There are financial benefits to living like college students, and we could learn a few things from them. How in the world, you might ask, are college students to be looked at as financial role models? When most people think of college students, they think of starving, desperate young people who can usually be found slurping down some ramen noodles off of a folding table (which is usually one of the only pieces of furniture you’ll find in their living space).
According to the article on Lifehacker, “The Practical Benefits of Living Like a College Student,” we should take a closer look at college students’ habits and traits.
College students are always out there being “busy learning, growing, and transitioning,” and they have some “highly effective habits” when it comes to money, even though these habits usually stem from just pure necessity.
A few habits that college students have that we could learn from are their eating habits, their constant openness to learning and growing, and that they tend to embrace experiences over possessions.
Think about it.
Although college students are forced out of necessity to eat and cook at home a lot, this is one easy way to save money. Just because you start making more money doesn’t mean that you can’t still cook in order to save that money. I mean, come on. How much do you spend on eating out each week? And if you cut that habit out for a while, how much would you be able to save for your next vacation?
Another point talked about is that college is a time of continual growth and many changes. After college, people get more settled, more set in their ways, and are far less open to opportunity and change – which can make it very, very hard to change financial habits once they are established, especially bad ones. Going back to that state of mind where you are open to change and growth would have countless benefits when trying to readjust your finances.
Lastly, let’s face it, college students, most of the time, are just plain broke. However, for most students, their focus isn’t on attaining an abundance of material possessions at the moment, but rather an abundance of experiences. What an awesome state of mind to have! What if we we’re more focused on new experiences and meeting new people rather than always needing the newest versions of everything!?
Anyways, those are a few things to think about especially this month, Financial Literacy Month! The next time you see a college student maybe you’ll see one of these traits and think about how you can apply it to your own life, rather than just seeing a broke student slurping down some ramen noodles!
To read more about this, go to http://lifehacker.com/the-practical-benefits-of-living-like-a-college-student-1553814909