TOTW Archive: Financial Awareness (for students)
Date: Wed, 10/05/2005 - 08:06
I definitely think that money management should be a mandatory course in schools and colleges. Kids spend most of their money on clothing, partying, food, recreation, etc in usually a lump sum, and then have nothing left for several more weeks, let alone money to pay their loan costs. A course that would teach them proper protocol for successful financial management would be highly beneficial, I think. They don't get the opportunity to learn these things before they realize the adverse affects of poor money decisions.
All gizmos and gadgets are targeted at students
All biggy products are aiming at student community, through student you can reach many.
The life style reflected in today's movies converts their needs to wants and creating new ones, making spending more than a habit. A sexy lady selling axe deo even when you are happy with revlon, another one selling a laptop, steve job selling a nano.
Also acquiring a better degree with limited earning makes the debts higher. Will awareness be able to control some life? Yes it can.
Habit of budgeting, plastic money usage awareness and few more things will help them more than anything.
More imp is "I am in debt what do I do now?", we need to figure an answer for this, if we can then let's do it.
Quote:I definitely think that money management should be a manda
Quote:
I definitely think that money management should be a mandatory course in schools and colleges. |
I agree.The most damaging financial years are the college years. The temptation is everywhere to use plastic money and over spend. I also think that some kids will take advantage of their parents kindness and won't learn the value of their credit. I can say this from personal experience. My father gave me a credit card when I was still in high school and said to only use in cases of emergencies. Well at 17 and 18 everything is an emergency.
I now realize the importance of paying your bills and preserving your credit. I think this should start as early as high school or even earlier. Proper management skills would have saved a lot of us from the debt that we are now in.
Financial awareness is very important right from the beginning b
Financial awareness is very important right from the beginning because lack of it causes some serious damages for the rest of our lives. There is a direct link between awareness of financial resource and college attendance. The lack of this awareness is specifically seen in the college attendance. If money is managed properly, the attendance in the college is also likely to increase among the various ethnic groups. The students feel that if they had better information on finance, they would have been more likely to attend the college.
Most of the students do not intend to begin college education prior to the end of the high school education. This is because they did not either receive any support from their families or they did not get any help while being in the school.
This whole system can be organized by spreading the financial awareness just at the right time. This can be done from face to face interactions by arranging workshops or meetings in the school campus or in the college premises. Sometimes, language also creates the difference. America has most of the Latino community so the communication should be both in Spanish as well as in English.
Two major sources of student debt are education loans and credit
Two major sources of student debt are education loans and credit cards. Here are some facts that I would like to share with you-
1. Rising cost of education is compelling students for borrowing. Federal government provides many repayment options. There are several mechanisms that help to stay current on student loans also. All these matters are discussed in the exit counseling, but students are not aware of the importance of this session particularly made for them. So lots of information remains unknown.
Hence ???Exit Counseling??? should be made mandatory for all students. Students can undergo this session online, we should take 100% advantage of e-conferencing.
2. credit card debt is another item that students suffer a lot. Credit card companies are so keen to push their products among students. They come up with lucrative offers and promote themselves in the college campus. It's really hard to resist the temptation!
Credit cards are good if the user knows how to use it properly. Otherwise the situation might be worst. So definitely a money management course should be introduced. It would help students to manage credit cards properly and they will get some budgeting tips as well.
yeah bryan, credit card companies were always setting up shop on
yeah bryan, credit card companies were always setting up shop on our campus when I lived at school. They would give you free t-shirts to sign up and free calling cards. It was nuts! got a lot of students in financial trouble because not only are they leaving college with student loans, but also a bunch of credit card debt.
