Procrastination is a common word that is used amongst college students, and it is often a result of being too busy or just not wanting to finish an assignment by putting it off to the last minute. Even if this method does work for some, it does not mean that it is the best, even if you are submitting quality work by the submission deadline. You may be wondering what this has to do with personal finance, but it really has a lot to do with it.
By being financially responsible, you learn skills that are not only useful in your financial life but also in your academics. Why? You may ask. Well, this is due to the concept of the skills being transferable. If you are someone who is always making sure to pay your rent early, making sure to purchase anything that is needed in advance, and making sure to plan out finances, it means that you are financially responsible. But, it also means that you are productive, which tends to be the opposite of procrastination and can help you be more careful and make fewer mistakes. So, the more financially productive, you could be more likely to get more of your work correct.
Budgeting is a large part of personal finance, as it helps you know how exactly you will organize your money and know what you will spend it on. You may wonder what this could be comparable to in the academic world, but it truly can help with your time management. Using a calendar to block out when you have class, work, and other activities is what can make sure you complete your work at a good pace and with high-quality work. Budgeting is nothing but having money and having to figure out how you want to divide it. Similarly, time in this case is “money,” and you need to know how to split it up to have the best results. Now just like how a budget looks different for everyone, a calendar would differ between people depending on the classes they take, how long they study, and other factors.
It is figuring out how much money you need to save based on your financial goals. Whether your goal is to save up a certain amount of money, or it’s to make sure you are not overspending, it is important to know what you want to achieve. In academics, it is important to make sure that you know what kind of grades and career that you want. If you are a goal setter and constantly making sure to stick with them, it can apply to other fields of your life as well, overall helping you in multiple different ways. These goals do not need to be very big, in either finances or academics, but they can be small goals that are built up to.
Although only finance and academics were mentioned, these techniques can be used in many different aspects such as towards a hobby or sport. If you grow your skills in one area, it can help you improve in another. Growing your financial skills not only helps you gain responsibility and knowledge in the money world, but can help you overall.
