Financial Challenges for College Students

Financial Challenges for College Students

Introduction

In most cases, college students are faced with financial challenges. This mostly happens to learners from poor backgrounds. As a result, students should target to save money during their learning periods. In college, there is a lot of peer influence. People from different social backgrounds live together. As a result, those who are not financially stable can be tempted to spend more by wealthy students. In most cases, college students live far from their parents and relatives. As a result, they do not have anybody to guide them on their spending. They have the full responsibility to manage their funds and lives while studying. This implies that learners in college should look for ways of saving money so that they do not face financial challenges. In some cases, college students end up facing economic difficulties, not because they do not have money, but because they are not able to manage it. There are various ways in which college learners can save money while studying.

  1. Controlled suspending can help to save money in college.
  2. Reduce the number of textbook one purchases while in college because they will only be used for a short time.
  3. A student should consider using the learning materials provided by the library of the institution.
  4. Learners can consider renting books, which is cheaper, rather than buying them.
  5. Students should co-buy textbooks rather than purchasing them individually (Shim et al.,

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