Financial Responsibility by Suzanne

Financial Responsibility by Suzanne - January 2016 Scholarship Essay

Being in school in the new year is hard enough. Being in school with horrible finances is a recipe for disaster. Money issues and woes will take over the focus of the student, leaving very little, if any, for school work.
My resolution is not only to finish getting my finances in order, but to also move away from student loans, and pay for school through grants, scholarships and through my earnings. This is scaring me to no end, but being saddled with tens of thousands of dollars in student loan debt, especially at my age, scares me even more.
A budget is and will be key to my success. Figuring out how much money I will have and how I can pay my bills on time and in full is the easiest place to start, on paper. Will it be easy to keep? That remains to be seen, but through dedication and constant reinforcing of the goal, I think I will be fine.
Another way to be successful is to keep track of all spending. It is easy to just whip out a credit card for purchases. The interest rate, alone, takes more money than it is worth to spend, so answering some basic questions such as “Is this a necessary purchase?” or “Is this a purchase I can pay off at once?” will go towards curbing impulse buying, and keep me focused on the goals at hand.
Refraining from eating out will also keep more money in my pocket for daily expenses as well as school expenses. Since I don’t live on campus, I have to be sure to maintain housing and all of the expenses that come with it, as well as food, clothing, electricity, etc. Plus, it is healthier to take lunch to work, and eat breakfast at home. So improve the finances and improve the way I treat my body. Sounds like a win-win to me.
You might ask what all of this has to do with being a better student. The fact that I don’t have to worry about making the rent payment, or paying the light bill, or where my next meal is coming from will make a huge impact on my ability to concentrate, focus and keep up with my studies. Worry is a huge distractor, and it causes anything from lack of focus to depression, and none of these are good for anyone, let alone a college student.
It is my hope that I will be able to maintain and keep this budget and this lifestyle. After all, they say that resolutions tend to fade into the new year pretty quickly. Perhaps the fact that some of the ownness will fall on me to pay for the education will make it that much more important to me, because it is up to me to own my destiny, not let it own me.