The financial errors are almost as common as the long study sessions late into the night in the lives of many college students.
The university is a determining epoch about your future in many aspects, and that is why it is so important to make intelligent financial decisions. However, age can be both an advantage and a disadvantage, because while we are students we tend not to think much about the future, we have bad financial habits and are prone to make many mistakes. These five errors are the most common:
Motivation is the main thing
The most difficult thing to visit our website when trying to save is to resist the temptation to spend the money, and this will only grow as the money in your account increases. It’s hard to resist temptation when you have not set long-term goals for that money. Therefore, try to establish what you intend to do with the money and try to make the goals your priority.
Saving money for retirement may not be something that appeals to you, so it might be better to save money for a trip, to boost your own or for what you consider beneficial for you at that time.
The investment is simple and necessary
Even if you do not have a degree in finance, the current world requires you to handle the fundamental concepts of the market. Finance professionals often take advantage of the ignorance of their clients. However, investing wisely is simple and you can do it yourself. If you decide to hire someone to carry out your investments this does not exonerate you from having at least the basic knowledge, otherwise, you are likely to be cheated.
Be careful with textbooks.
The easiest thing to start each semester is to buy all your books in your university’s bookstore; however, this is not the cheapest option. It is recommended that you compare book prices, including used, in other stores or online, on; or students of more advanced semesters. At the end of the semester, you can sell your books if you are not going to need them anymore. Another option is to rent books in the library of your school or university. These options can help you reduce up to 50% of the total cost of your books.
Eye with the food
. Between the junk food you eat late at night while you study, the dinner outings, or the coffee or snacks between classes, you end up spending a lot more than you think. If there is a cafeteria at your university with a semester meal plan, skip it in advance and take advantage of it. If you still live with your parents, take advantage of their kitchen and bring some food from your home to the university. If you are foreign, you can meet with friends to cook. Remember not to waste food, since on average we do not take advantage of 40% of the food we buy.