Financial Difficulties And Its Effects On Students Essay

Financial Difficulties And Its Effects On Students Essay

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Financial difficulties are the situations in which a person is not able to meet their bills on time or afford essential basic needs. It has been reported that financial difficulties and situations are a major issue within society as well as a source of stress for many tertiary students. In fact, there are many kinds of financial difficulties that can strongly affect students. According to (Masuo, et al., 2004), money is a powerful tool, not only because it is an instrument of commerce and a medium of exchange for products and services, but also because it is one that can cause happiness or dependency. Thus, if one doesn’t want to be a student having financial difficulties, they should always have at least few ways of their own to create a better financial situation while being at university. This essay will elaborate on explaining the kinds of financial difficulties students can experience and discuss the way these difficulties can affect students. It will also suggest three ways that students can create a better financial situation for themselves while they are at university.
First of all, there are many kinds of financial difficulties that students can experience such as; parents don’t provide enough money for expenses in daily life, school fees are too much, earning money from a part time job doesn’t help enough, ingest or illogical spending, expenses incurred, etc. It might be spent impulsively like using money to impress or a tendency for excessive spending. Extravagant spending habits are becoming more and more common with students, for example purchasing expensive items such as name brand clothes, personal items and vehicles. Of course, expense is always in need and will never be enough if one doesn’t make any money in ext...

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...will be properly used which will reduce unnecessary waste or avoid wasting. For example, if one wants to go from A to B and they have 2 choices that are the bus or the train, but the train is more expensive than the bus because its faster, they can use the bus in order to save money if they aren’t in hurry.
In conclusion, this essay has successfully explained the types of financial difficulties that affect students, also suggesting techniques for alleviating financial stress and creating a better financial situation. First, it outlined the ways in which students can spend recklessly by alluding to their consumption habits. Next, it went on to highlight the adverse affects financial difficulties can have on student whilst showing the benefits of learning smart financial management. Finally, this essay indicated the ways students can improve their financial situation.

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