Money is on the minds of college students! They don’t think they’re getting enough education on how to handle personal finances and there is a lot they’re worried about post-graduation.
In a recent survey conducted by WalletHub, college students across the country were asked about their financial attitudes and concerns.
Almost half of the students say they will try to make as much money as possible professionally, rather than follow their passion and they are worried about debt.
The survey sampled over 210 college students. Nearly half say their school is not doing enough to educate them about personal finance.
Peer pressure is another significant factor influencing students’ financial decisions; 75% admitted to feeling pressured by their peers to overspend beyond their means.
And when it comes to life after graduation – the top fear among students isn’t just about landing a job, but also grappling with the burden of student loan debt and credit card debt.
This can leave many feeling unprepared for the real world.
“If you are afraid, then understand that there are plenty of resources out there for you to learn about this stuff every step of the way,” said Christie Matherne is an editor at WalletHub. “Even if you leave college without knowing everything there is to know about personal finance, all you have to do is google it and find resources.”
It’s no secret buying a home is expensive and complicated. For many, it may feel out of reach, but making smart decisions with your money can bring you one step closer to those home ownership dreams.
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It’s also crucial for college students to establish healthy financial habits, such as saving regularly and avoiding unnecessary expenses. If possible, start establishing an emergency fund now.
Unexpected expenses can arise at any time, and having a financial safety net can provide peace of mind and prevent debt accumulation in the future.
Learn more about the survey here.
