The Pros And Cons Of College Budgeting

College has gotten increasingly more expensive in the United States as time has passed. Today, many, if not most, college graduates come out with a degree and a complimentary heaping mound of debt. The estimated average debt is believed to be in the proximity of twenty-five thousand United States dollars per college graduate. Essentially, most people that pursue their goals and attain a higher education are being punished by starting life in the “real world” with a crippling tower of debt. So many college students that have to pay for their own college expenses have to learn how to budget their money through a trial by fire. There is another group in which I belong, the group that has their parents or other family members pay for their college

Currently, I do something similar because I currently do not live with my mother and step-dad,but rather my great grandmother. My mother and my step-dad send me the same amount of money every month to cover expenses such as lunch, gas and or any other expenses that arise. So budgeting is not a new idea or practice to me, meaning college shouldn’t put up too much of a challenge in terms of budgeting. There will be a few more expenses that I don’t have to manage currently added, however I believe they will be rather trivial in the grand scheme of it all. However, practicing with a budget with not only be useful for my college years, but also for the rest of my life unless I marry Emilia Clarke. Then, money wouldn’t be an issue, however I’d say the chance that such events occur are rather slim. Additionally, if I fail to adhere to my budget or find it too restrictive I plan on having a part-time job to help with such unfortunate

Within the class we use lessons from a man called Dave Ramsey who knows how to eliminate and stay out of debt. He has helped thousands of individuals and even started his own “university”, known as Financial Peace University, it’s a course to help ensure financial greatness in one’s future. If I apply lessons that I have learned and will learn from this, then perhaps I will be capable of having a stable financial future. One of the convictions he holds is that you should avoid credit cards entirely because they are a financial black hole. I find his view to be a tad extreme, yet it is founded upon solid principles and facts. Credit cards can very easily deceive one into debt. Some of the other ideas I’ve learned from consumer math include always having an emergency fund and putting money away for your future. While it is often tempting to spend the money left at the end of the month, it is very short sighted and provides little or no benefit for the