{"id":7789,"date":"2018-05-18T13:58:34","date_gmt":"2018-05-18T21:58:34","guid":{"rendered":"http:\/\/www.wou.edu\/westernjournal\/?p=7789"},"modified":"2018-05-17T14:00:29","modified_gmt":"2018-05-17T22:00:29","slug":"money-management-made-simple","status":"publish","type":"post","link":"https:\/\/wou.edu\/westernhowl\/money-management-made-simple\/","title":{"rendered":"Money management made simple"},"content":{"rendered":"

\"\"<\/p>\n

Lake Larsen | Digital Media Manager<\/span><\/p>\n

There are a lot of lessons to be learned in college, but one of the most important is how to navigate the world of finances. I\u2019ve laid out five simple things everyone should do to point themselves in the right direction financially.<\/span><\/p>\n

 <\/p>\n

1.Start a checking account<\/span><\/p>\n

Starting a checking account is as simple as going to the local bank and speaking with a teller about how to start one and what fees are involved. Having an account is practically mandatory in today\u2019s world.<\/span><\/p>\n

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  1. Develop a budget<\/span><\/li>\n<\/ol>\n

    Every person needs to know how much they should be spending on different bills and other random expenses. There\u2019s no need to be exact on every cost estimate but, a general rule to follow is to always assume the expenses will spend a little more than they normally are. It allows some wiggle room in case something has gone up in price.<\/span><\/p>\n

      \n
    1. Get a credit card<\/span><\/li>\n<\/ol>\n

      While most people think they don\u2019t need one because they can just use their debit card, it is immensely more difficult to build credit without one. Owning and using a credit card is much easier to grow credit with as opposed to any other options. It’s not so much the card that matters as the credit score that someone develops with the card. An easy way to start and grow a credit score is to get a credit card (there are a lot of cards that have great benefits for students) and use that card to pay a small subscription fee then immediately pay off the balance.<\/span><\/p>\n

        \n
      1. Get a checkbook<\/span><\/li>\n<\/ol>\n

        This is a simple thing that most young people overlook. While it\u2019s not as common to see people pay for things with checks, everyone still needs a checkbook whether it be for paying rent, setting up direct deposits, a vast array of other reasons. They usually cost around $30 from a bank \u2014 and there are fun designs available for them.<\/span><\/p>\n

          \n
        1. Balance your checkbook<\/span><\/li>\n<\/ol>\n

          This goes hand and hand with developing a budget. When ordering a checkbook, they usually come free with a Check Register, or they can be ordered online. Balancing a checkbook is easy; when something is bought, write down where they money was spent and for how much. Then, at the end of the week or month, add it all up and make sure it matches what your account says. This is an easy way to make sure there are no overcharges on a bill or account overdraws.<\/span><\/p>\n

          Contact the author at llarsen13@wou.edu<\/span><\/p>\n

          Photo by: Paul F. Davis<\/p>\n","protected":false},"excerpt":{"rendered":"

          Lake Larsen | Digital Media Manager There are a lot of lessons to be learned in college, but one of the most important is how to navigate the world of finances. I\u2019ve laid out five simple things everyone should do to point themselves in the right direction financially.   1.Start a checking account Starting a […]<\/p>\n","protected":false},"author":1030,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[43],"tags":[],"class_list":["post-7789","post","type-post","status-publish","format-standard","hentry","category-lifestyle"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/posts\/7789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/users\/1030"}],"replies":[{"embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/comments?post=7789"}],"version-history":[{"count":0,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/posts\/7789\/revisions"}],"wp:attachment":[{"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/media?parent=7789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/categories?post=7789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wou.edu\/westernhowl\/wp-json\/wp\/v2\/tags?post=7789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}