2008 Woodie Awards
Whst's in Tour Pocket?
Released by University Relations
Issue date: 11/5/08 Section: Life
So, what's in your pocket? Reaching into my white ISU sweatshirt I pull out a $5 bill, All Natural Chapstick (my favorite brand) and a receipt for 22 pounds of dog food from Wal-mart. How important is it to know what's in your pocket? As students, the amount of cash in our pockets and how we spend it may have a direct affect on where we end up after this semester.
Heading to college was my first experience in having a checking account. My mother and I walked into a small branch bank in Grace, Idaho a week before I left for school. After I embellished my signature that would mark me for the rest of my life, the teller gave me a quick lesson on how to write a check, balance the statement and handed me several blank checks. A brown box of checks arrived in the mail a few days later and I was off to college. Not much was said about how to spend my money. I just knew how to get it from the bank to where I needed it to go.
According to a poll conducted by Key Bank and Harris Interactive, Rochester, N. Y. in Oct. 23, 2006, "Nearly one-third (32 percent) of college students, when thinking about their freshman year, admit that they were 'not at all' or 'not very well' prepared for managing their money on campus." How are you doing?
Today debit and credit cards are issued right along with opening a bank account and accessing money is immediate. almost as immediate as the debt that begins to incur as students make their way through the maze of college expenses. In the same study by Key Bank, they found that, "Only one in five (20 percent) students claims to have been 'very well prepared' for managing their money on campus.
Money Expert, Dollar Camp put it this way in his Document number 7, "Students whose shopping experience have been limited to choosing the designer jeans with the yellow stitching or the ones with the red stitching may not realize the difference good comparison shopping skills can make to their bottom line. Spending an extra dollar on a box of cereal might not have much of an impact on [the student's] lifestyle, but constantly failing to look for the best deal on everything from textbooks to auto insurance to phone service could. The savings that comes from careful shopping could mean borrowing less, working fewer hours, or having more money to put toward something really worthwhile" (Financial Literacy Statistics-Dollar Camp & JumpStart).
In this new series, "In Your Pocket" you'll find stories, statistics and advice that will help you make it through the coming semesters financially confident so you can see your way clear to graduating on solid financial ground. Find out what's in your pocket (and your bank account)!
Heading to college was my first experience in having a checking account. My mother and I walked into a small branch bank in Grace, Idaho a week before I left for school. After I embellished my signature that would mark me for the rest of my life, the teller gave me a quick lesson on how to write a check, balance the statement and handed me several blank checks. A brown box of checks arrived in the mail a few days later and I was off to college. Not much was said about how to spend my money. I just knew how to get it from the bank to where I needed it to go.
According to a poll conducted by Key Bank and Harris Interactive, Rochester, N. Y. in Oct. 23, 2006, "Nearly one-third (32 percent) of college students, when thinking about their freshman year, admit that they were 'not at all' or 'not very well' prepared for managing their money on campus." How are you doing?
Today debit and credit cards are issued right along with opening a bank account and accessing money is immediate. almost as immediate as the debt that begins to incur as students make their way through the maze of college expenses. In the same study by Key Bank, they found that, "Only one in five (20 percent) students claims to have been 'very well prepared' for managing their money on campus.
Money Expert, Dollar Camp put it this way in his Document number 7, "Students whose shopping experience have been limited to choosing the designer jeans with the yellow stitching or the ones with the red stitching may not realize the difference good comparison shopping skills can make to their bottom line. Spending an extra dollar on a box of cereal might not have much of an impact on [the student's] lifestyle, but constantly failing to look for the best deal on everything from textbooks to auto insurance to phone service could. The savings that comes from careful shopping could mean borrowing less, working fewer hours, or having more money to put toward something really worthwhile" (Financial Literacy Statistics-Dollar Camp & JumpStart).
In this new series, "In Your Pocket" you'll find stories, statistics and advice that will help you make it through the coming semesters financially confident so you can see your way clear to graduating on solid financial ground. Find out what's in your pocket (and your bank account)!
Be the first to comment on this story