Celebrating National Financial Literacy Month
April 9th, 2014 | Comment
Are you fiscally fit? Do you know how much money you spend each week or month? Are you aware of your budget? Do you have a budget? How are you going to repay student loans?
It is wise to start thinking about tracking spending, creating a budget, and preparing for student loan repayment now. You may be surprised by how you easily could save or pay off debt with the money you’re spending.
Be frugal. It doesn’t mean you have to be tight with your money. Be intentional with your spending. Do you really need that Venti Cinnamon Dolce Latte (my favorite) from Starbucks? Probably not.
Be creative. Can you recreate your favorite coffees or teas at home for a fraction of the cost? You will save approximately 80% of your money. Instead of spending >$5.00 for a beverage, save $4 and spend only $1. Small purchases add up to a lot saved.
Experiment for a week. Track everything you purchase. Yes, even write down the pack of gum bought at the convenience store. You will find that you may be spending money freely without giving it much thought. Once you start tracking, you’ll notice a shift in how you make decisions on purchases. You will start asking yourself, “Do I really need that pack of gum?”
Don’t know where to start? Luckily, WFU offers CashCourse, a free and unbiased real‐life money guide. Get started now, register for a free account. When you sign up, you will be registered to win a $50 VISA gift card.
Here’s what you get with CashCourse:
- A Budget Wizard to build your own monthly budget with your real income and expenses
- Videos offering quick lessons on financial basics
- Calculators to help you demystify your debt or set a savings goal
- Worksheets to help you organize your life, build a budget, and master your student aid
- Articles on real issues you’re dealing with now, as well as topics to prepare for your future
- A Financial Experts Wall, where you can submit questions to CashCourse experts
- Quizzes and courses to test what you know and show you where to go for more information
Want more? Follow the blog for tips on how to become more fiscally fit and build your financial muscle.
Category: Professional Development