Oklahoma Money Matters

First, take a deep breath. Your feelings are valid, and you are not alone. We all can encounter financial challenges from time to time, and stress can affect every part of our lives. According to data from the National College Health Assessmentt, 75% of U.S. students have experienced moderate to high financial distress in the past year. While there is no cure-all method to eliminate all financial hardships or the negative feelings that come with them, please consider these tips to reduce stress, and to help take control of your budget.

• Prioritize what’s within your control:  If you’ve completed your FAFSA (Free Application for Federal Student Aid), received your financial aid and paid for the credit hours you’re taking, you are doing a lot better than you think you are. You can’t control how expensive living is, but it’s important to keep proper perspective, as to not overlook your progress. 
• Save money (if you can):  After you assess what’s not in your control, consider what is. I know campus fashion is life, but you don’t have to follow every link to those influencer LTK’s (Like To Know It) to make a purchase. College campuses are crawling with cosmetic talent. Make friends and you could save greatly on haircuts and nail services. Reduce those streaming subscriptions and join some campus organizations instead. If you pay for a meal plan, use it instead of DoorDash. You can also inquire about campus food pantries if money for food is tight. Watch your college teams for fun, skip the gambling. Consistently visit the financial aid office to see if there are any new funding sources for which you may qualify.  
• Find ways to earn more:The unfortunate reality is you can only cut back on so many expenses — so if your budget is already stretched to the max, you might consider increasing your income. Devoting adequate time to your coursework is paramount in your academic success, but there may be surplus time to earn some extra money. We talked about getting familiar with the financial aid office, but there are several ways to get a couple of extra coins in your pocket. If you’re good with kids, try babysitting or apply for openings at your campus childcare center. One person’s trash is another person’s treasure, so selling items you no longer use is always a good idea. Not every student qualifies for the federal work-study program, but there may still be campus jobs that would allow you to work part-time. 
• Track your progress:  When you sit down to do your homework, open a spreadsheet to record your spending. When you’re tapping that Apple Pay or sending Cash Apps, it’s not always easy to see where your money is going. Documenting your purchases allows you to see where you have improved and where you can still make changes.
• Talk to a professional:  If you’re completely overwhelmed, consider talking to an academic advisor; they can help point you in the right direction. There are also counseling services on campus to help you sort through your stressors. Speaking with someone who can objectively assess your financial situation and help you create a plan is a key step toward regaining control. YOU GOT THIS!