Relationships

1
Relationships

• And Managing Your Money

2
Relationships

• Quality of relationships built in college can
  have a positive or negative influence on
• ability to concentrate,
• feelings of self-confidence
• ability to do well academically
• Many forms of college relationships
• Room mates
• Instructors
• Boyfriend/girlfriend
• Relationships with family, friends, etc. that
  you had when you started college

3
College Friends

• One of the best things about going to college is
  meeting new people!
• Most students learn as much from college friends
  as from college professors!
• Try to diversify your friends ? make friends
  with people who are not just like you

4
Developing Romantic Relationships in College

• Many opportunities to meet new people if you take
  advantage of them
• Fewer or no controls on sexual expression
• Many people have first intimate sexual
  relationship in college (but remember 25 of
  college students never have sex while in
  college).
• If thinking about marriage ? realize that the
  younger the couple is, the more likely the
  marriage will fail
• may be best to wait until college is over and
  both partners know who they are and what they
  want out of life
• Whatever your sexual orientation ? there will be
  others at college who are the same as you
• healthy to develop an attitude of tolerance to
  all sexual orientations

5
Breaking Up

• Happens to about 1/3 of freshmen
• Hard to do but if have to
• Do it cleanly and calmly
• Try not to be impulsive and angry
• Explain feelings ? talk them out
• If partner gets angry ? try to avoid getting
  angry too
• Time really does heal all wounds
• So does hanging out with true friends

6
Off-limit Relationships

• Your teachers (including graduate assistants)
• Anyone who works over or for you
• Best to stay away from co-workers (sometimes hard
  to do)
• Married persons
• Rock/Pop stars

7
Relationships with parents during college

• Some parents let go better than others but all
  of them are trying to do what they think is best
  for you.
• Remember your parents have never had you in
  college before and are learning as they go, just
  like you.
• Be aware of their concerns/worries
• Doing things that may harm you (wild parties,
  drugs, risk-taking such as unprotected sex (or
  any sex), etc)
• Try to see your actions from your parents point
  of view and keep them informed about most things.
• Parental clock always seems to lag behind reality
  (know you are older but still picture you as a
  child)
• Impossible to know what they are going through
  until you become a parent yourself.

8
Roommates

• Can be heaven or can be hell
• Does not have to be your best friend, just
  someone with which you can comfortably share your
  living space
• Best to put mutual rights and responsibilities in
  writings
• If problems come up ? talk it out and/or ask
  residence hall counselor.
• Roommates will often provide you with a chance to
  look at yourself in a way no other person can do.

9
Managing Your Money

• The American economy is very complex.
• Dealing with it, both in school and out, takes
  care, thought, and foresight.
• Dealing with money is not something to be taken
  lightly.

Manage your money, don't let it manage you!
10
Recognize the Incredible Value of School

• The majority of students who drop out of college
  have a GPA of 2.5 or above!
• Good money management frees you up to focus on
  your education.
• Money is often a necessary sacrifice during your
  college experience.
• Earning a degree will pay off tremendously ? it
  will entirely be worth it (see Table 1.1, p. 12
  in text).

11
Sources of IncomeGet a Part-time Job

• Try to find work you like to do
• Look for jobs with light work loads
• where you can be your own boss
• Ask about sudden schedule changes
• Be aggressive in seeking your ideal job to have
  while in college

12
Work With Caution

• It takes a lot of money to go to college, but it
  also takes a lot of studying and hard work.
• The same effort to earn the required fees may
  hinder ones progress towards actually earning
  the degree itself.
• Students who work long hours are more at risk for
  failing and dropping courses.
• Failing and dropping courses costs money money
  you cannot get back.

13
Investigate Work Study and College Internships

• Work study programs are funded by the federal
  government
• They enable you to work on campus or in the
  community
• Awarded based on financial need
• Check for paid internships in your chosen field
  of study
• Can get good experience and interest of future
  employers

Earn while you learn...
14
Sources of Financial Aid

• Grants
• Scholarships
• Loans
• Win the Lottery (right!)

There is money out there, but you must look for
it!
15
Grants

• Federal Pell Grant
• Based on financial need
• No academic requirements or GPA minimums
• Requires filling out the Free Application for
  Federal Student Aid (FAFSA)
• Forms and information are available in your
  schools financial aid office.
• Search the Internet

16
Scholarships

• Gift Aid monetary award that is not paid back.
• Rewarded on the basis of
• -Academic merit - A talent or skill
• -Group membership -Religious affiliation
• Putting together scholarship applications can pay
  off substantially
• Be wary of scholarship scams
• Check with your financial aid office
• Check the Internet

17
Student Loans

• Loans must be paid back.
• The Stafford Loan Perkins Loan
• federal loans for students.
• Based on financial need.
• Most government loans offer low interest rates
  and deferred payment options.
• Requires filling out the FAFSA.
• Loans are available through other financial
  institutions.

Remember that loans require repayment, often with
interest!
18
Recognize Income and Acknowledge Expenses

• Count it all current and summer job income,
  money from parents, gifts, and financial aid.
• Know where it goes regular expenses and variable
  expenses
• Be honest with yourself
• Keep careful track of themoney

19
Learn Ways to Save

• Large scale cutbacks.
• Cheaper housing.
• Get a roommate or additional roommates
• No carmake use of public transportation (now
  available in Jonesboro).
• Cook/prepare most meals yourself
• Small scale saving methods.
• Clip coupons (can be time-consuming)
• Shop at discount stores
• If you dont have it, dont spend it.

Saving money is all about making smart choices.
20
Where to put your hard-earned money

• Checking accounts enable you to draw money
  regularly from your account funds through the use
  of checks.
• Savings accounts exist for the primary purpose of
  putting money in and rarely, if ever, taking it
  out.
• Handout on compound interest
• Money market accounts are a more sophisticated
  type of savings account.
• Check for bank fees associated with each type.

?
21
Credit Know the Basics

• Work to establish good credit.
• Handle your accounts successfully.
• Remain stable in your residence and job if
  possible.
• Make timely payments for rent, utilities, loans,
  insurance, and credit cards.
• Co-signing a loan with anyone means you are
  responsible should they default.
• Pay credit card bills in full.
• Consider what your credit report will communicate
  to those who view itsuch as future employers,
  mortgage lenders, etc.

22
Credit Cards and College Students

• If used effectively, credit cards can be
  beneficial, but they can also be deadly
• With a credit card, you are likely to spend one
  third more.
• If making minimum payment of 50 month on a
  2,000 credit card balance at 18 interest will
  take 61 months to pay off (costing 3,050).
• A 3,000 balance will take 149 months to pay off!
  (costing 7450)

Before you lay down the plastic, THINK IT
THROUGH!!!
23
Getting and Staying Out of Financial Trouble
Where does the money go?

• Protect your financial information.
• Understand the power of interest rates on credit
  cards.
• Deal with debt collectors sooner rather than
  later.
• Dont work too many hours to pay off debt.
• Buy what you know you need, not what advertisers
  say you have to have.