Money Talks: Staying on Budget During the Holidays

Posted by Joe Crosby

11/17/14 1:50 PM

Money Talks are quick hitting posts on a topic that will help your students manage their loans and finances. With links, tools, and visuals, you can easily digest and regurgitate the info so your students can one day fly from your nest financially healthy and strong. 

48Black Friday is coming. Cyber Monday soon follows and 98% of malls across the country started decorating for the holidays as soon as the candle was blown out on the Jack-o-lantern.

Your students will be encouraged to spend.

In our previous Money Talks we talked about the importance of credit scores. 

The partnership between building a strong credit score and creating and keeping a strong budget cannot be denied. 

But in this season of spending it's easy for students to slip.  

Here are 4 ways to attempt to keep your students on budget (while still enjoying the joy of the season).  

1. Experts agree that budgeting is a great first step in money management for college students who might be new to personal finances. Bankrate.com offers a free, entry level budget tool to get students started | LINK 

2. When gifts for my parents were made of crayola and love, they'd always remind me that it's the thought that counts. This Vine nails that sentiment. Post it on your social media sites to remind students that the most simple things can be the most treasured. 

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3. Go to Pinterest and check out some homemade gift ideas. Budget 30 minutes to marvel at the creativity of people. Jot down some ideas and then send them to your students. There's no need to break the bank when you could just be original and make your loved ones a Cocoa Santa.

cocoasanta 

4. News flash: College students attend and host parties. Most are informal, but every now and then they'll class it up a bit. Here's an infographic all the way from the UK that offers advice on keeping the bill down. 

 

How to Plan a Thrifty Holiday Party
 

Now, more stats . . . 

Students all over the country are anxious about money. That's why we work so hard for financial literacy that touts the importance of creating financing plans that keep students in school. 

$tats that Matter is a handout that helps students calm their fears and become more cognizant of their academic and financial plans.  

Stats that Matter