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Personal Finance for College Students – NBC Boston
Money is on the minds of college students! They feel they are not getting enough education on how to handle personal finances and there are many things that worry them in graduate school.
In a recent survey conducted by WalletHub, college students across the country were asked about their financial attitudes and concerns.
Almost half of students say they will try to make as much money as possible professionally rather than pursue their passion and that they are worried about debt.
The survey sampled more than 210 university students. Almost half say their school is not doing enough to educate them about personal finance.
Peer pressure is another significant factor that influences students’ financial decisions; 75% admitted feeling pressured by their peers to spend beyond their means.
And when it comes to life after graduation – the main fear among students is not only getting a job, but also dealing with the burden of student loan and credit card debt.
This can leave many feeling unprepared for the real world.
“If you’re scared, understand that there are many resources available for you to learn about these things every step of the way,” said Christie Matherne, editor at WalletHub. “Even if you leave college without knowing everything there is to know about personal finance, just Google it and find resources.”
It’s no secret that buying a home is expensive and complicated. For many, it may seem out of reach, but making smart decisions with your money can bring you one step closer to your dreams of owning a home. Follow NBC10 Boston on… Instagram: instagram.com/nbc10boston TikTok: tiktok.com/@nbc10boston Facebook: facebook.com/NBC10Boston
It’s also critical for college students to establish healthy financial habits, such as saving regularly and avoiding unnecessary expenses. If possible, start establishing an emergency fund now.
Unexpected expenses can arise at any time, and having a financial safety net can provide peace of mind and prevent accumulating debt in the future.
Learn more about the research here.