Financial Responsibility for Beginners: Intro

Imagine getting out of college with decent credit and minimal debt. Does that sound more like fantasy than a reality? Well it could be a lot closer than you think if you're financially responsible. Now I know you're probably thinking, 'what could she possibly mean? I'm in college I have no money. I'll worry about that when I graduate.' Well being financially responsible is more than just saving and budgeting. You may be on a ramen noodle diet but there are others ways to set your self up for success. This topic covers paying for college, minimizing debt, and building credit, as well as, budgeting and saving. You want to prepare for life after graduation now to make your transition into real life a bit smoother.

It is very important that you look at all of your options when it comes to paying for college. There are loans (private and federal), grants, scholarships, internships, work study, and even some jobs that offer tuition reimbursement depending on your course of study. In this series, I will go in depth about all of these options and provide resources that will help you decide which option(s) fit your situation the best. I will also go into great detail about the pros and cons of students loans and the repayment process. The biggest thing about student loans is to not ignore them. They play a major role in building your credit and there are so many programs available to help you repay them. We'll also talk about wise ways to use that refund check and supplying your wardrobe is not one of them!

It is also just as important to establish and build credit early. Companies are always offering credit cards to college students. Yet, no one is offering to educate students on the importance of credit. People either shy away from credit cards and have a tough time establishing credit or go to the extreme and get multiple credit cards and charge them up frivolously then end up with a ton of debt and bad credit. There are others ways to establish and build credit as well and we will talk about that too.

Working, budgeting, and saving money are building blocks to being financially sound. Balancing your responsibilities outside of school work is tough, especially when you have to work your way through college. But no need to worry, these posts will definitely make it a little easier.

My Journey: Freshman Year

To tie into my previous post, here is what staying in your comfort zone can lead to. I graduated from high school in 2007 (yes I am old). At the time I was convinced I was going to school to become an ER Physician. I chose to go to school at IUPUI for several reasons; they offered a pre-med biology program and IU has a very competitive medical school, I could stay at home, I was close to friends and family, I didn't feel like escaping my comfort zone, and compared to other schools it was quite inexpensive. I had received academic scholarships and grants plus some federal aid that covered my tuition and books. At that time I didn't know about federal student loans because I didn't need them. With my mom's help I had even bought my 1st car. I was excited but extremely nervous about my 1st semester.

I remember when I went to orientation I was a nervous wreck! I'm so glad my mom was with me. When I was younger I was extremely shy and I never spoke unless I was spoken to. During my first semester I sat in the back of all my classes and went straight home afterwards. I just wasn't comfortable meeting new people. I actually had a hard time engaging in my classes because I was bored and I was more concerned with life outside of school (big mistake). Long story short, school became less of a priority because it wasn't enjoyable which was totally my fault because I had made the choice to not be engaged. As a result, by the end of my 2nd semester I had lost my scholarships and was placed on academic probation.

Moral of the story, you get in what you put out. Sometimes you have to treat life like a swimming pool and just jump in because if you just test the water and see how cold it is you'll stay out. To get the most out of college you have to jump in, make friends, engage, build long lasting connections (networking, we will definitely be discussing that later), and make your learning experience a priority.

Picking the Right School: Traveling Outside of Your Comfort Zone

One of our biggest obstacles in life is ourselves. We all long to feel safe so we end up placing ourselves in a tiny box we call our 'comfort zone.' Everyone is guilty of it at one point or another, but the key to success is to break out of it. 

As teenagers, looking at life outside of high school can be exciting but also terrifying. Some of us will retreat to our comfort zones and deny ourselves the opportunity of experiencing the world outside of what's familiar. We want to hold onto our family, friends, relationships, whatever helps us feel safe. This need for safety becomes apart of the decision process when we are choosing the schools we apply to. When I applied to my alma mater, my decision was based on the fact that I could still enroll in my program of choice while still living at home. I wanted to stay close to home with my friends and family. I was afraid of stepping out of my comfort zone. Looking back I realized that I denied myself the opportunity to grow. I enabled myself to go to campus just to attend my classes and come straight home. I did not participate in any campus activities. I was more focused on being comfortable. I already had friends. I had a job. I had a computer so there wasn't even a need to use the library. I already had my life and with no one telling me the importance of resume building (experience other than work experience) so I thought I had it all figured out. 

Now you may be saying to yourself; well what does the choice of school have to do with this, I'll just participate in extracurricular activities blah blah blah. My point is you can say that but when the time comes what will you really do? Maybe going away to school will give you the extra push you need to step out of you comfort zone. Living on campus may force you to make new friends which could lead to active participation in extracurricular activities. Being more comfortable with meeting new people can lead to so many opportunities that go beyond college. You don't have to be afraid to take risks at such a young age. If you do decide to stay home, just make sure that you find activities to peak your interest because you never know what doors may open.

Let us begin with an introduction!

My name is Eliza or simply Liza for short. The point of this blog is to prevent future graduates from wasting their lives like I did. I am going to share the countless number of life lessons I have learned during my undergrad journey, and believe me it's better to read about them then actually encounter them. Now these stories are not for those who already "have life all figured out", but rather for those who don't have the proper guidance or resources to make the most out of their undergrad years. I'll cover everything from choosing the right school to financial responsibility to internships, networking, and more. My goal is to keep at least one student from dropping out or graduating only to work in a lousy call center being belittled every minute of everyday (story of my life here). So sit back and learn from me. 😊