Eric Arnold Planswell — 8 Ingredients of a Good Student Budgeting
Budgeting as a student is never an easy job. The financial pressure you stay in and the desire to be more responsible only stresses students more. While already dealing with draining school hours and tasks, financial planning can sometimes be an overwhelming responsibility.
Eric Arnold, Planswell’ s CEO, who had his interesting financial struggles, now resides as the boss of a financial organization. As he shares his struggles openly, he resonates with the struggles the modern generation faces. The guilt of constantly getting financial support from parents to getting intimidated by all the challenges. Financial planning is not easy as many assume it to be.
However, the struggles also depend on one’s financial situation. If some students earn a place in college with scholarships, others are wealthy enough to care less. Regardless, If you are someone who cares about your spending habits, below are some solid budgeting components.
1. Keeping a Monthly Track of All Your Spendings
This is one of the fundamental steps that you must follow. The simple way is to jot all your expenses in a notebook. However, using a monthly budget calculator is the smart way to keep good track.
2. Stick to Your Budget
Many students in the initial days find it difficult to stick to their budget. However, once you set a financial goal, you get the right motivation to stick with the list. It is an important initiation to not go broke in the mid-month.
3. Live Below Your Means
When you consider the structure of your budget, ensure that it does not over exceed. This means you should keep spending less than the total amount of money you have monthly. It is one of the most important lessons every student should learn in the early days of money management.
Don’t Hesitate to Get Guidance
Getting professional guidance can be a great boost to any student’s financial knowledge. Therefore, Eric Arnold Plaswell’s CEO provides a good platform for such students. The organization commits intending to avail financial planning to all sections of society.
