During her presentation, Terry mentioned many useful tips that undergraduate students can start to apply to their own financial journey. She outlined that there are five main ways we can use money on a daily basis: by spending, saving, investing, lending and earning. In order to be able to participate in these five ways, she emphasized the importance of budgeting from a young age. Having a budget helps you manage your spending per month and ensures that your savings are on track for the future. It allows you to set long term goals and even prevents you from overspending. Terry also mentioned some important factors to keep in mind when making a budget, such as recognizing your needs and wants, accounting for irregular expenses, as well as allocating an emergency fund. As students, we can begin to apply these tips when making our own financial decisions so we can be better prepared for the future!
|