Financial problem is a situation where money worries are causing stress.

According to Halliday Wynes, (2014), a student financial position will affect their commitment in learning which will affect their academic performance.

The most common symptoms you will notice when facing financial problem is you are spending more than you’re earning. The cost of living as a college student are high whereby, they usually spend more than how much they earn, especially for those who living away from family and being independent for the first time. They do not know how to manage their budget and they will use their money without any awareness and facing problem such as not enough money to buy what they need.

Here are some money management tips for students:

  1. Create a budget
  2. Prioritize needs over wants
  3. Save money
  4. Minimize debt
  5. Explore student discounts and deals
  6. Cook at home
  7. Find cost-effective transportation options
  8. Be mindful of textbook costs
  9. Seek part-time job opportunities
  10. Learn about personal finance

Remember, establishing good money management habits as a student sets a strong foundation for your financial future.

By practicing these tips, you can develop responsible financial habits and make informed decisions with your money.