Advice for Scholars from the Board
Topic: Money Management Tips
Our Bright Foundation board members give advice to scholars on money management! We strive to support scholars as they navigate through college, acknowledging that education goes beyond what happens in the classroom. More advice from the board to come in future blog posts.
What tips for money management might you have to share with scholars?
Take a class in financial literacy. Make sure you have a basic understanding of accounting and finance at a personal and business level, regardless of your profession. Understand how budgets work and how to read a financial statement and balance sheet. — Tom Press
Live within your means, try not to create large debt, and save a little if you can. — Jeff Fleming
Learn the power of compound interest and start saving now, no matter how much. The discipline is more important than the amount. — Jerry Deegan
Take advantage of any “free meals” when offered – whether from friends, family, classes, clubs, school, dorm floor, etc. Always take extra fruit from the dining center to have as snacks in your backpack or dorm room. To earn extra money on your own schedule and have a change of scenery check into opportunities to dog sit (Rover app) or house sit. Petting a dog or cat is good emotional therapy – even if you visit a pet store or animal rescue. — Stacy Wanderscheid