Managing finances is a very important instrument that should be demonstrated on a daily basis by all students, and also any individual that is working full-time and has a set of expenses that must be paid. Creating a budget helps college students resist physical, mental, and emotional stress. Knowing how to budget your expenses will teach students how to be responsible, how you view money, and the true value of a dollar. Credit cards are also a potential stressor for students. Nellie Mae, a student loan provider, finds that 83% of undergraduates have at least one credit card and the average balance is $2,400 (Bodnar, 2005). Students should budget their money in order to survive financially and resist additional stress.
Finance and Financial Management | Student Counseling and Personnel Services
Heidel, Laura and Parrigan, Caleb M., "Managing Finances in College [brochure and video]" (2011). Counseling Concepts and Applications for Student Affairs Professionals (CNS 577). Paper 19.