While in college, young people might not be looking ahead when it comes to their finances.
This week in Cardinal Points, staff writer Patrick Willisch reported on the more frivolous spending conducted by college students.
As outlined in the article, credit cards and budgets are significant issues for young people to manage.
Perhaps the largest issue is a less-than-conservative approach to spending, even impulsively spending money on relatively insignificant endeavors.
One of the notable aspects outlined by Plattsburgh State student Blake Protzman is students accepting unnecessary amounts of student loans, using some or all of that money on things unrelated to college.
Sure, having money is a nice feeling. Less thoughts devoted to one’s own financial situation would, theoretically, lead to less stress — and college students know all too well that alleviating any stress factors is a definite plus.
But that’s only one way of looking at it. Could it be that pushing off financial responsibility until a later date is simply pushing off stress as well?
We at Cardinal Points definitely think so.
Here in Plattsburgh, there’s a good amount of ways to spend money. Partying can obviously eat up a significant chunk of that, depending on what you purchase. Outdoor sports, especially in the colder months, can cost some money. And what about just hanging out? Food or movies, for example, aren’t free.
These things add up, and this is all with relatively minor expenses. Let’s face it: once we’re out of here, our financial obligations only increase.
While some might look at it as these years being “the best years of your life,” maybe it’s fair to consider what makes the years after less great.
Thinking of your financial future is important. College isn’t cheap, even if SUNY offers a less expensive option than other routes, and most of us will likely have no navigate through paying off loans following graduation.
For a good portion of students, that sea of debt will hang over you, and you’ll be starting behind the eight ball. If you play it right, maybe you can turn that sea into just a lake, or maybe even a mere pond.
What you don’t want, however, is an ocean.