Taken by: Fabian Blank
With many tools and websites, budgeting is made simple. All you have to do is take the time to use these tools. Financial struggles cause up to 38% of students to drop out (according to FIU). So how can we lower the financial stress of being a college student?
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How to Budget Your Spending
One of the biggest things that influence your budget is creating a spreadsheet. It doesn’t have to be done online in excel; I prefer a notebook or planner. Anything that will keep you organized. Start with the basics/set payments: bills, subscriptions, and retirement funds. Bills can also include groceries for the week. What is left is divided into savings and “fun money.” Pick a percentage of your check to go into your savings. I recommend 30% of your paycheck. However, you can do however much you want. Then find a percentage for “fun money” (I recommend 5%). Then anything left over is your emergency fund/unexpected payments. Doing this, you will realize how much money you can save and how fast your account will grow. Everyone’s budget will look different, but the overall goal is to learn financial habits that will benefit the rest of your life.
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Financial Aid
Paying for classes is a tremendous financial stress to most college students. Thankfully Gulf Coast State College can help with this with plenty of scholarships available, along with grants. Applications can be found on the GCSC homepage. Most scholarships pay for almost half of your tuition as a full-time student. This aid can also be used to purchase bookstore books and supplies. Gulf Coast State College, in Panama City Beach, is ranked #1 for residents’ lowest tuition rates and fees out of Florida’s 40 public colleges and universities! For more information about scholarships and financial aid visit Gulf Coast State College/Financial aid
