What About A Money Buddy?

Most students are familiar with the term "study buddy. " It is common to have friends or other students who become friends to study with. This is a very effective strategy for getting through your courses. If you don't have any study buddies and are toughing it out alone think it over.

Now here is another Planet College suggestion. What about a money buddy? Finances are such a crucial part of higher eduction they are practically a required subject. In fact, if you think about it Higher Education Finance has been a required course for you since you started your college education. Probably since day one on Planet College what has been going out has consistenly exceeded what has been coming in. Although probably a clear solution would be more money that is rarely possible. A solid second choice is more effective management of what is actually there. Without much experience for this type of management help could be useful.
So, again, know anybody who is financially capable?

It doesn't have to be a close friend and we are not suggesting someone who you can consistently borrow money from. A money buddy can be anybody, as we have said, who is simply fairly proficient at handling their own personal finances. Know anyone who regularly balances their checkbook, isn't often flat broke, can consistently afford what they need? Ask them how they do it. Just that. How do you remain financially unstressed? See what you can learn from them.

If you don't know anyone like this try talking to someone who actually works in finance. Not necessarily a big shot, either. Maybe a teller at your credit union or a worker in the Burser's office. Even one of the counselor's in the Financial Aid office. Ask if they can help.

If you can find someone you can trust to look over your finances you will probably need at least copies of your bank or credit union and credit card statements. This are available on line and can be easily printed out. Bring copies to meet with your chosen money buddy. Remember, you are looking for a few simple things. Essentially doing more with what you have because what you have is very, very limited. Most financial distress results at least in part from a kind of fogginess. The kind of fogginess which is a combination of busyness and inexperience. Taking time to go over your finances can produce some clarity about your spending versus your income or available resources. This clarity can be useful as a stress reliever.

Remember Rule One on Planet College whenever you have a problem, issue or a concern, or just want to learn something: Ask for help.