{"id":2106,"date":"2016-09-21T21:30:13","date_gmt":"2016-09-21T21:30:13","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/?post_type=chapter&#038;p=2106"},"modified":"2024-05-01T18:46:32","modified_gmt":"2024-05-01T18:46:32","slug":"why-it-matters-financial-management","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/chapter\/why-it-matters-financial-management\/","title":{"raw":"Why It Matters: Financial Management","rendered":"Why It Matters: Financial Management"},"content":{"raw":"<h2>Why learn about financial management?<\/h2>\r\nCollege life comes with a lot of expenses. Students must balance the cost of courses, supplies, and books\u2014as well as the costs of living like rent, food, clothing, transportation, and medical care. And we haven't even brought up leisure activities yet, which can\u00a0soak up money\u00a0really quickly. Watch\u00a0this interview with two college students and a financial adviser. Do\u00a0their situations\u00a0seem familiar? Are you facing any of the same issues?\r\n\r\n<iframe src=\"\/\/plugin.3playmedia.com\/show?mf=1291327&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=JOt3Apl7qBA&amp;video_target=tpm-plugin-80x8vv4d-JOt3Apl7qBA\" width=\"800px\" height=\"450px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe>\r\n\r\nYou can view the <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/College+Success\/Transcripts\/CollegeStudentsStruggleWithMoneyManagement_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \"College Students struggle with Money Management\" here (opens in new window)<\/a>.\r\n\r\nThe students in the video above struggled to keep track of their money and to keep their spending in check. One of the first\u2014and easiest\u2014steps in financial management is to simply pay attention to your money: record (or look back to see)\u00a0where and how you're spending it. Once you know where your money is currently going, you can figure out what steps to take next.\r\n\r\nIn this section, we'll learn how to balance these costs and spend your money well. We'll also learn about financial aid options, like scholarships and student loans, and where these aid options are most effective.","rendered":"<h2>Why learn about financial management?<\/h2>\n<p>College life comes with a lot of expenses. Students must balance the cost of courses, supplies, and books\u2014as well as the costs of living like rent, food, clothing, transportation, and medical care. And we haven&#8217;t even brought up leisure activities yet, which can\u00a0soak up money\u00a0really quickly. Watch\u00a0this interview with two college students and a financial adviser. Do\u00a0their situations\u00a0seem familiar? Are you facing any of the same issues?<\/p>\n<p><iframe loading=\"lazy\" src=\"\/\/plugin.3playmedia.com\/show?mf=1291327&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=JOt3Apl7qBA&amp;video_target=tpm-plugin-80x8vv4d-JOt3Apl7qBA\" width=\"800px\" height=\"450px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe><\/p>\n<p>You can view the <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/College+Success\/Transcripts\/CollegeStudentsStruggleWithMoneyManagement_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for &#8220;College Students struggle with Money Management&#8221; here (opens in new window)<\/a>.<\/p>\n<p>The students in the video above struggled to keep track of their money and to keep their spending in check. One of the first\u2014and easiest\u2014steps in financial management is to simply pay attention to your money: record (or look back to see)\u00a0where and how you&#8217;re spending it. Once you know where your money is currently going, you can figure out what steps to take next.<\/p>\n<p>In this section, we&#8217;ll learn how to balance these costs and spend your money well. We&#8217;ll also learn about financial aid options, like scholarships and student loans, and where these aid options are most effective.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-2106\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Why It Matters: Financial Management. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">All rights reserved content<\/div><ul class=\"citation-list\"><li>College Students struggle with Money Management. <strong>Authored by<\/strong>: Nikki Muller. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/youtu.be\/JOt3Apl7qBA\">https:\/\/youtu.be\/JOt3Apl7qBA<\/a>. <strong>License<\/strong>: <em>All Rights Reserved<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":19,"menu_order":1,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Why It Matters: Financial Management\",\"author\":\"\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"copyrighted_video\",\"description\":\"College Students struggle with Money Management\",\"author\":\"Nikki Muller\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/JOt3Apl7qBA\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"}]","CANDELA_OUTCOMES_GUID":"4704e05a-c317-448b-9ef2-7c9943e20571","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-2106","chapter","type-chapter","status-publish","hentry"],"part":135,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/pressbooks\/v2\/chapters\/2106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/wp\/v2\/users\/19"}],"version-history":[{"count":17,"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/pressbooks\/v2\/chapters\/2106\/revisions"}],"predecessor-version":[{"id":7674,"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/pressbooks\/v2\/chapters\/2106\/revisions\/7674"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/pressbooks\/v2\/parts\/135"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/pressbooks\/v2\/chapters\/2106\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/wp\/v2\/media?parent=2106"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/pressbooks\/v2\/chapter-type?post=2106"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/wp\/v2\/contributor?post=2106"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-collegesuccess-2\/wp-json\/wp\/v2\/license?post=2106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}