What Things Every College Student Should Know About Money?
You wondered if your old buddy made fun of you. He talked about Bread Pitt, a baking store not far from his neighborhood. Customers couldn't get enough of Bite Club, Inglorious Bagels, and Ocean's Unleavened. You don't recall him being a huge fan of Brad Pitt (after watching many of his films and not recommending it to you), yet it could be his imagination. It might be a stretch, which made your father worried (on a few occasions). You were lacking information on money, which would matter more. Does it?
It was a cloudless morning when you first set foot at your university of choice. You made a few acquaintances with older students, and they confessed that the hardest lesson they learned was how to handle money. If not for the pandemic, you could have joined them. Studying from home had its benefits, but your parents didn't seem interested in your conversations with one of your best friend. He adores France. He studied French by himself. And he tried to please the French youngsters that he chatted with. You hardly shared his enthusiasm(?) after your encounter with a French-Vietnamese volunteer two summers ago. (She asked you if you stole any photos from her photo album, memories of her one-year stint at a non-government organization that encourages volunteers to socialize with children from less-privileged backgrounds. You were a photography enthusiast, and you found her photos below your standard.) However, you became quite envious of your buddy after his parents allowed him to pursue a graduate degree in Paris (and them paying for his tuition.) You wondered if the coursework was his excuse to visit the smaller (French) cities (and probably look for a girlfriend). Money wasn't an issue to him, so you were surprised when he posted a long message for his family. and friends on Facebook, asking each one to donate a euro to an exhibit that he joined last spring. It had something to do with his thesis, he added. You didn't press him for details, as you became curious about budgeting. Is analyzing chemical reactions less of a challenge?
Your father was confused at your question while your coursemates asked about your well-being. You were trying to settle into your new existence during the pandemic while meeting the demands of your (undergraduate) degree. (Studying literature is not a walk in a park, which your cousin, who is studying medicine, said otherwise.) If you were asked to write an essay in German, you would manage. But to keep up with your expenses? You couldn't imagine it. You found that very confusing. You were glad that this lack of knowledge didn't translate into serious financial difficulty. Yet. And you're not paying tax.
Be Boring. Learn How to Budget
Most students wish they have a better financial education. Your brother, several years older than you, talked about "creating a spreadsheet" with his friends. He gave up after a few tries. He admitted overspending when it came to food shops, which was followed by another confession. (Procrastination was stressful.) Your brother had no idea how to organize, but you didn't point it out. Financial education was introduced to the national curriculum, but you wondered if there should be a different approach. Zoom meetings didn't come to mind, but rather financial literary lessons that could be useful after America come out of the pandemic. It might be too early, though. (The Omicron variant would make 2022 feel like 2020.)
Teenagers don't understand their financial agreement. And you don't understand Sony's vision of creating another Marvel Cinematic Universe (MCU) either. After watching "Venom: Let There Be Carnage", you weren't interested in another sequel. (Spider-Man and Venom would face each other, but you rather look ahead. Phase 5 of MCU will be launched a few years from now, and you have a shortlist of superheroes who haven't debuted on the big screen.) You didn't tell your old man that you saw TikTok videos explaining ways to manage finances and what all of the different terminologies are. It may sound silly to him, but it would be a generation thing. Your tutor told you that most universities have a dedicated team dealing with financial queries, yours included. She advised you to make an appointment, adding that financial education must be placed alongside history, chemistry, and other subjects. Ignoring it would mean every year a new group of young people face a struggle to learn the basics, she added. You were about to ask her if students should be taught more on the subject, but your friend's text message distracted you. Tom Holland will star in another Spider-man sequel.
Spending money on food is easier than you think. Never shop on an empty stomach, your mother told you (and your brother) many times. You were too lazy to cook big meals from scratch then freeze the leftovers, though. You're also too young for rent and gym membership. It could happen sooner, so you meander the Internet on how to money around. It would resume next week, if not next month. Your mother asked your father about your last holiday. It's about time to plan for the next one.
Create a Budget!
Once you've made your budget, it's just a matter of sticking to it. You would go back to the old school (on how to save money), your father added. He reminded me, one more time, that I was lucky not to learn how to shop smart with student discounts. And then your brother interrupted the conversation. People always love the promise of danger. They just don't like it when the promise is fulfilled. Hot-air balloon? Volcano? Tornado? He might be hinting at your travel plans, but your old man thought of something else. Winter is here. You must have a plan. You rather wake up late.
