If you are reading this, you are likely one of the following: a college student (or are thinking about attending college), know someone who is in college currently, or are about to have a student enter college. Two words – DON’T PANIC. There are a lot of resources available to you and we can guide you through this time in life.
You do not need to get an education through taking out a bunch of student loans (see my blog post about student loans). There are scholarships, grants and financial aid such as FAFSA. Anthony O’Neal (Dave Ramsey personality) wrote a book titled Debt Free Degree. The book is a quick read and it outlines a path for students to go to college debt free. It starts as early as students who are in 7th grade! There are individual chapters for each grade level (i.e. 7th-12th), and it has some detail about having a budget. It is critical to begin learning how to balance a checkbook, create a written budget, and tell your money where to go. Upon graduation, you will want to be ahead of the curve when it comes to your peers.
Do not fall into the lifestyle trap! Make sure you stick to your plan and stop trying to impress people with money you don’t have. If you would like to learn more about how you can get ahead with your finances, contact us.
Madsen Financial Coaching 