Initially, when reading the article “13 Ways to Improve Your Financial Literacy in College “ I gained further knowledge and insight on how to improve my financial literacy as I continue my education. One thing that I was already aware of is to “Automate your Bills and Never Miss a Payment “. Life does get busy as a college student when you’re juggling schoolwork, a job, and other things, the last thing you want to forget about is paying your bills. Having bills on Automate gives you the comfort in knowing that payments are made on time. However, you should still check your bank account to know your balance when you have bills on Auto Pay. Thus, automating bills makes life a little less stressful.
Also, I was aware that you need to “Pay Yourself First to Grow Your Savings “. I realized that there are different ways to save money while reading “Better Money Habits”. When buying groceries I do normally make a list so that I do not go over my budget. Meal prepping helps me to save money by not eating out as often.
In terms of transportation, I save more money using public transportation compared to using ride-share services such as Lyft or Uber.
I learned that I have to be creative with how I choose to save money in order to trim the costs of daily expenses. I know a few helpful ways to save money like cash budgeting or giving yourself a spending limit.
Also, I was not aware that there were prior learning assessments that could help you turn your real-life experience into college credit. It’s the best of both worlds. And I was also unaware of the various apps there was out there to help track your budget. And I think that it is important that as college students heading into the real world we should know where our income is going.
Ultimately, understanding financial literacy can help current students like myself and future students make useful decisions in the present that will positively impact their future financial decisions.