The Student Support Services (SSS) held a workshop on March 10 to teach students about budgeting. The hour long informational helped students in the program to understand how to evaluate their budgeting and how to improve from it.
The first half of the workshop was discussing 10 steps that many students face when dealing with budgeting and how to have a clear understanding of spending on necessities and luxuries. The other half was dedicated to students writing down and looking at their own monthly budgets. This allowed students to visualize where most of their money went and how they could change these habits.
One tip SSS mentioned in their workshop is that budgeting is a tool of measurement. It allows us to see a pattern of what are spending consists of. Also, that students should beware of spending creeps. This can be caused by our sense of security within our occupation that we feel we have worked hard enough to earn the freedom to spend more than we make.
Three easy steps that can help keep students spending to a minimum are to 1) identify our spending 2) evaluate your spending by recognizing patterns and 3) keep track of future spending. Bank statements are a good way to start budgeting.
Shaun Gephart (senior, Sociology) who is a peer advisor for SSS presented this as part of the TRIO program. SSS is a branch of the TRIO that is funded by the United States Department of Education. This service provides an opportunity for those students that are underserved and are in danger of not obtaining an education, helping those with low income, disabilities and first generation.
“Every month we have to do some sort of financial literacy it is a requirement for the program so that we can give students advice on financial aid, scholarships, and budgeting was an idea I came up with. We have not done it in awhile and now that the economy has changed it is always a good reminder where everyone is at with their finances,” Gephart said.
For more information on SSS and how to be part of the program you can email them at [email protected] or call at 667-3220.