FYInance

Posts Tagged ‘students’

in grades five through eight to “think outside the bubble” for their chance to win a 000 US savings bond in the second annual Bubble Wrap® Competition for Young Inventors. With the back-to-school season underway, students have until November 1 to enter their invention for a chance to win. “Last year’s competition, which generated nearly 800 entries from 38 States, featured an array of really creative inventions that ranged from the fun and wacky to the scientific and serious,” said …

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When the economy is slow, it is tough being a student. Not only tuition are expensive, books are expensive, lab equipments and other accessories are expensive, housing is expensive (and the list goes on) but there are other factors that makes being a student when the economy is recessionary very difficult.

A story from a student in the slow economy

Here is a story from a student whose life has changed because of the economy:

“Well, basically, I am going to school full time (online) so money was tight before, but now my family and I eat everything at home. We don’t go anywhere unless absolutely necessary and it is one big trip to many stores near each other. My husband and I are also now working online to make more money to just make ends meet. This takes away from my studies so I am having to stay up long nights just to do my courses. So basically it is school and work, no play at all.”

Thank you for sharing your story. There are so many other students in the same boat or in even worse situations. Money is hard to make when the economy is slow and anyone who is supporting themselves while going to school will have to work extra shifts to earn more money.

Financial planning helps students in slow economy

Some students are fortunate enough when their parents set up a college plan or a 529 plan for them. We will discuss collage planning and the 529 plans another day. But if you want to read about 529 plans, there are websites such as these ones http://www.sec.gov, http://www.morningstar.com, or http://529-plan.info for a more basic explanation of what a 529 plan is. A 529 plan, if a student has one, will usually help him or her throughout his or her college life so that he or she does not have to work extra hard, in the evenings and weekends to make ends meet and still have free time to study.