Financial skills important for students

” The University of Akron is hosting a financial skills session for students whose bills cause more stress than final exams. The session, Financial Survival Skills, will be held today from 4 p.m.- 5 p.m. in room 308 of the Student Union. It is hosted by the Center for Career Management.”

The University of Akron is hosting a financial skills session for students whose bills cause more stress than final exams.

The session, Financial Survival Skills, will be held today from 4 p.m.- 5 p.m. in room 308 of the Student Union. It is hosted by the Center for Career Management.

Students will learn how to make and balance a budget, how to pay off student loans and invest in retirement plans.

LuAnne Coldwell, assistant director of Career Development, recognizes the financial problems that many college students encounter.

You have things you want to do for fun and it’s hard to say ‘I don’t have the money to do that,’ she said.

The session will be informative and discussion between students will be encouraged.

We’ll be covering whatever questions people bring, Coldwell said.

Coldwell, the speaker for the session, said one of the points she will bring up is getting an apartment for the first time.

When you live out on your own for the first time, there are a lot of hidden expenses that you never thought about, she explained.

She said she wants students to be financially prepared when they are ready to live on their own.

Most people are aware that credit scores can impact one’s financial life in many ways. However, it is now becoming more common for it to affect one’s professional life as well.

We’ll also be talking about how your credit score can impact your ability to get a job, she said.

Coldwell explained that a poor credit score can actually keep people from getting a job in certain career fields.

Everyone who attends the session will receive a handbook on financial responsibility.

Coldwell believes one of the biggest financial mistakes college students make is spending money before they have it.

That’s a real easy trap to fall into for all of us, she added.

She said that college students face a variety of obstacles when it comes to saving money.

If you’re paying your way through college, you’re probably taking out student loans. If you’re paying for your own apartment or to live in the residence halls, there’s that expense, she said.

Coldwell explained that many things people consider to be necessities are actually luxuries, such as having the newest cell phone or cable television, and they take more money out of students’ pockets.

It’s hard to say ‘no,’ she said.

You’ve got expenditures and you aren’t making a lot of money, she said, describing the average college student’s situation.

It’s pretty hard to make ends meet.

The session is the last part of a series held by the Center for Career Management and is free for students.