Once you graduate and leave your College Station apartment for a big city apartment, you’ll realize that, throughout high school and college, no one ever taught you about personal finances. Everyone comes to this realization at one point or another, and everyone deals with it differently.
Some people dedicate themselves to learning about personal finances and budgeting. If you’re one of those people, you’ll pick up books, read threads online and possibly even seek out professional advice.
Others decide to pay more attention to their personal finances, but don’t go so far as to research popular financial practices. Paying attention to where your money goes is a great first step, but it’s meaningless if you don’t change any of your habits to save a little money.
Finally, we come to the people who go through life without paying attention to their personal finances. Don’t be one of these people. If you don’t pay attention to where your money is going, you’ll always think you have more money than you do, and you’ll never get out from under your student loans debt.
This message goes out to everyone at 2500 Central Park: We are the apartments College Station students turn to for luxury living, and our mission is to help you live luxuriously even after college. They way to do that is not by spending your money on things you can’t afford. The best way to live luxuriously after college is to be patient. You might not feel like you’re living the lavish life right away, but spend some time figuring your finances out and we promise you will be able to afford to live the good life.
The way we see it, you might as well learn about personal finance now, while rent is affordable and expenses are low. Most people don’t make very much money while they’re in college, but most people don’t have costly expenses either. That makes for a perfect opportunity to learn about personal finance.
Step one on your personal finance journey is making a budget. You don’t do this by deciding how much you’re going to spend on things, you do it by looking at how you currently spend your money, and trying to improve in certain areas. Take a look at last month’s bank statement and write down every expenditure that you had. Categorize them into columns labeled “Restaurants, Groceries, Gas, Rent, Entertainment, etc.”
Once you know what you’re spending, you can figure out where you’re spending too much. Maybe you’re spending too much on restaurants and too little on groceries. Maybe you’re spending too much money on entertainment and need to decide whether you want to continue that trend. Set yourself an attainable goal, like cutting restaurant expenses by 20%, and see if you can hit that goal next month.
Now that you have your budget set up, you can add to it every time you spend money. Make it a habit to keep a record of every purchase you make. Once you’ve been doing this for a month or two, you’ll notice that you’re much less likely to waste money on meaningless purchases. In today’s age of credit cards and Venmo, it never really feels like we’re spending money because we’re not giving away cash. By writing down your purchases, you can make them feel more real.
We’d like to thank our awesome residents for taking some time out of their busy summer schedules to read the latest edition of the 2500 Central Blogs. There’s nothing we love more than being able to help our residents get financially savvy. If you’re into these types of blogs, be sure to check this page again in a couple weeks when we post another blog. Until then, you can follow us on social media to stay up to date with everything happening at 2500 Central Park College Station apartments.