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Table of contents
  1. Preface
  2. 1 Getting into College
    1. Introduction
    2. 1.1 What Are the Benefits of College?
    3. 1.2 Your Academic Journey and Personal Story
    4. 1.3 Finding the Right "Fit"
    5. 1.4 Applying for College and Making Your Decision
    6. Family & Friends Matter
    7. Summary
  3. 2 Transitioning to College
    1. Introduction
    2. 2.1 Why College?
    3. 2.2 The First Year of College Will Be an Experience
    4. 2.3 College Culture and Expectations
    5. 2.4 It’s All in the Mindset
    6. Family & Friends Matter
    7. Summary
    8. Checking In: Your College Readiness Checklist
  4. 3 Managing Your Time and Priorities
    1. Introduction
    2. 3.1 Time Management in College
    3. 3.2 Procrastination: The Enemy Within
    4. 3.3 How to Manage Time
    5. 3.4 Prioritization
    6. 3.5 Enhanced Strategies for Time and Task Management
    7. Family & Friends Matter
    8. Summary
  5. 4 Reading and Note-Taking
    1. Introduction
    2. 4.1 The Learning Process
    3. 4.2 The Nature and Types of Reading
    4. 4.3 Effective Reading Strategies
    5. 4.4 Helpful Note-Taking Strategies
    6. Family & Friends Matter
    7. Summary
    8. Checking In: Your College Readiness Checklist
  6. 5 Studying, Memory, and Test Taking
    1. Introduction
    2. 5.1 Deepening Your Learning
    3. 5.2 Memory
    4. 5.3 Studying
    5. 5.4 Test Taking
    6. 5.5 Developing Metacognition
    7. Family & Friends Matter
    8. Summary
  7. 6 Building Relationships
    1. Introduction
    2. 6.1 The Benefits of Healthy Relationships
    3. 6.2 Building Relationships in College
    4. 6.3 Working in Groups
    5. Family & Friends Matter
    6. Summary
    7. Checking In: Your College Readiness Checklist
  8. 7 Maintaining Your Mental Health and Managing Stress
    1. Introduction
    2. 7.1 Creating Your Best Self
    3. 7.2 Your Overall Well-Being
    4. 7.3 The Mind-Body Connection
    5. 7.4 Mental Health Basics
    6. 7.5 The Role of Social Media on Mental Health
    7. 7.6 Physical Health Basics
    8. Family & Friends Matter
    9. Summary
  9. 8 Understanding Financial Literacy
    1. Introduction
    2. 8.1 Personal Financial Planning
    3. 8.2 Savings, Expenses, and Budgeting
    4. 8.3 Credit Cards
    5. 8.4 Paying for College
    6. Family & Friends Matter
    7. Summary
    8. Checking In: Your College Readiness Checklist
  10. 9 Planning Your Future
    1. Introduction
    2. 9.1 Setting Goals and Staying Motivated
    3. 9.2 Planning Your Degree Path
    4. 9.3 Making a Plan
    5. 9.4 Using the Career Planning Cycle
    6. Family & Friends Matter
    7. Summary
  11. Index

There are a lot of benefits to good financial management. Primarily, it generally allows you to do more of what you want with your life. When you have poor financial habits, too much of your money goes into other people’s pockets. But when you have good financial management habits, you can afford to do more because you have worked hard, separated needs from wants, saved and invested, and avoided credit card and debt pitfalls.

However, financial literacy is a topic that many college students struggle with, but good financial planning habits will benefit you long after your college days are behind you. To make the most of what you have learned about financial literacy, specifically student debt and strategies for managing your finances in college, consider what else you would like to work on. Choose one of the following to explore further this term:

  • Create a budget with your expenses and income. Look for ways to eliminate unnecessary spending and increase your ability to pay for your college expenses.
  • Research college grants, scholarships, and loans and create a list of potential opportunities that you can take now and in the future to help you cover your costs while in college. Rank your options.
  • Develop an emergency fund and guidelines for when to use it.
  • Research the best credit card options for you at this time.
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© Jun 27, 2023 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.