My Stress management
Financial Stress On College Student

Most of the college students face the financial stress due to overspending, lack of proper guidance, peer pressure, inexperience and many other factors. As a result almost everybody is bogged down with heavy debts increasing day by day. As a student you may have tried several methods to cut down your expenses but to no avail. Here are a few effective stress relief techniques that can help you deal with the financial stress.
Education is not cheap and everyday you need to spend money for some educational purpose. However, if you keep a check on your expenditure you will succeed in paying off most of the debts and even manage to save a few pennies.

Take federal or private loans

The federal loans have been initiated for the benefit of the students. So you can choose the best one that is suitable for your need. If you want to go in for the private one then do enough research so that you are not at a loss and end up paying more rather than benefiting more.

Grants and Scholarships

There cannot be a better solution to your existing financial problem than using grants and scholarships to relieve you of your burden. These grants and scholarships are money that is offered free by the federal organizations for the benefit of the students. Take full advantage of the situation but you have to prove worthy of these aids.

Work during your summer vacations

Summer vacations are ideal for earning some extra bucks to ease the financial stress that you are facing because of your education. This works as a great relief from studies for a brief period and earning money while having fun. These summer jobs are not at all taxing.

Say no to credit cards

Credit cards are a status symbol and people use them lavishly without thinking of the repercussions especially the students. If you have to take your date to an expensive restaurant or buy the latest shoes or clothes, these are your biggest foes as they make you spend mindlessly.
Do not get tempted by the easy use of the credit cards. Use them sparingly and only during emergencies. Most of the credit card companies slyly entice you with low interest rates but do not get fooled. This is just an initial interest rate which is low and a tactic to lure you. Once you sign in for the card your APR rates will shoot through the roof leaving you spinning in mid-air.

Pay off the highest interest rate

If you have already been trapped in the credit card mess then search for some good management sites online that will help you choose a plan to reduce your debt. Most of the credit card consolidation plans are scams that have hidden costs. You might want to pay off the low interest debts but it is advisable to first pay off the highest debts.

Follow a budget

It is a good practice to keep a budget for students. This helps you to keep a track of your expenses and earnings and also helps you to make necessary adjustments that will be a big boon in reducing your financial stress.

Don’t waste resourceful means

Seek financial advice from your school and college counselors who can guide you to manage your finances and overcome the financial stress that you cannot lift off your shoulders. Check out for sale announcements in stores and groceries so that you can buy your provisions in bulk and give you an opportunity to save.

Control your drinks

The students are quite a social lot where drinking is second nature and every celebration and occasion is toasted with drinks which becomes an expensive habit. Drinks not only make a large dent in your pocket and add to your financial stress, but it also affects your health and well being in a negative manner.