What financial decisions will I encounter?
This is the exact content found in the What financial decisions will I encounter? activity within the Pre-Arrival Program.
When university students are asked what they wish they’d learned in high school, financial literacy is a common answer. While students may feel well versed in Shakespeare, trigonometry and world history, many have never been taught how to make a budget, how interest rates work or the basic principles of economics. Even more, society has largely taught us that talking about our financial situation is a social faux pas.
We know being a university student can be expensive. The cost of tuition, textbooks, rent, food, transportation, medical expenses, entertainment and miscellaneous costs can add up quickly. While we’re not able to reduce your expenses for you, we do know that planning, preparing and having strategies to manage your expenses can help you ensure you get to the end of a term with money left in your bank account. And we know that the easiest way to plan, prepare and manage your money is to start having a conversation about finances.
To kick off this conversation, four current students have opened up about their budget strategies and their reasoning behind various financial decisions while playing our budget game (video, 3:05).