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Budgeting and financial planning are important skills from "summary" of The Freshman Survival Guide by Nora Bradbury-Haehl,Bill McGarvey
Understanding how to budget and plan financially is crucial for success in college and beyond. It allows you to manage your money effectively, avoid unnecessary debt, and achieve your financial goals. Without these skills, you may find yourself struggling to make ends meet, constantly stressed about money, and unable to afford important expenses like textbooks or meals. Budgeting involves creating a plan for how you will spend your money, taking into account your income and expenses. It helps you track where your money is going and identify areas where you can cut back or save. Financial planning, on the other hand, involves setting long-term goals, such as saving for tuition or a study abroad trip, and creating a strategy to achieve them. By budgeting and planning ahead, you can avoid financial crises and make informed decisions about how to use your money wisely. One important aspect of budgeting and financial planning is understanding your income sources and expenses. This incl...
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