FORP for Short

Free Online Research Papers has over 20 years experience publishing and promoting high quality student research papers, essays, journals, and other writing examples.

Students Managing Finances

A student that can say that he or she will be able to manage their finances on their own, and actually manage them is very rare to come by. Having the knowledge to budget and maintain your finances, does not just happen. Teaching children how to save and invest are great starting points to start them off to a successful lifestyle. Young adults getting out of high school and starting college have to know how credit can affect them in their futures. Knowing how to start a budget and sticking to it, and excluding expenditures that are not necessary on a student’s budget can outline the difference to staying on top of your finances or being in debt.

Students Managing Their Finances
Financially smart and confident students seem to be a rare exception to most of the student population. Being financially stable is hard for students. With so many obstacles and temptations that entice young adults starting school, there are credit companies that market for the unwise high school and college freshman, to the upperclassmen that like to live outside their means. Starting a Financially smart students starts at a young age, and begins with their parents. After these lessons are planted, how can students continue with their financial stability?
Starting on the Right Path of Financial Success Begins at a Young Age?

Some common misconceptions that people make are that males are more responsible with their money, when females are frivolous and don’t worry about saving their money. Does gender play a part in the way people become financially stable? Starting students on the right path begins with their parents. Children learn from their parents and how the parents play each role. Andrea Rock, (2005) found that children pick up most of what they know by observing their parents, particularly their mothers. Showing children from a young age that saving and investing their money is a productive thing to do. Showing children “young students” how to start and maintain a financial plan, are the foundations of making a smart and efficient student with his or her finances, making the students life just that much easier when the financial smarts are needed later.

Staying Ahead With Credit History
When it comes to maintaining your credit, which is a major factor in an adults life. Aspects in a student’s life can majorly affect his or her credit history. Nellie Mae, (2002) found that 83% of all undergraduate students had one or more credit cards. For students to manage their credit history, the student has to be responsible with his or her loans and credit cards. As stated by Dan Beucke, (2005), 80% of upperclassmen think they are knowledgeable enough to manage their finances after school. Only to find that 32% missed or have been late on a payment, 24% have written a check that bounced, and 17% had to face a bill collector. Knowing how to stay away from the high interest rate credit cards, the minimum monthly payment traps, and many other mistakes can help an under or upperclassmen maintain their credit history throughout their post college life.

Building a Solid Financial Plan
Building a financial plan may be difficult and frightening, but once it is established it is like a weight that has been lifted. Creating a budget and sticking to it is one of the foremost important skills to get started. Students who are used to living outside of their means, this can be that much more difficult. Living like a student is crucial to sticking to a budget. Overcoming the obstacle that keeping a budget brings, then disqualify and stop expenses that are not used monthly but paid monthly. When cutting small expenses not needed in a month and redirecting those expenses to a savings account, those small amounts add up over time. Sticking to the simple efforts that only students put into effect for themselves can result to a solid and stable financial lifestyle.

With everything that is stacked up for students, either it being schoolwork to home life. Being financially stable it essential to staying afloat in today’s economy. Being able to handle credit and maintaining it correctly is a good source to solidifying that financial plan. Finances follow students throughout life, and continue throughout the life of their children. When the right lessons are learned early in a student’s life, it can grow and prosper to a life of stability.


Rock, A. (2005) Take The Gender Out Of Money Smarts. Money, 34(4), 71 Retrieved from MasterFILE Premier database.

Nellie Mae, (2002). Undergraduate students and credit cards: An analysis of usage rates and trends. Retrieved from

Beucke, D. (2005). CREDIT 101. BusinessWeek, (3939), 13. Retrieved from MasterFILE Premier database.