1. Relationships And Managing Your Money

2. Relationships Quality of relationships built in college can have a positive or negative influence onQuality of relationships built in college can have a positive or negative influence on – ability to concentrate, –feelings of self-confidence – ability to do well academically Many forms of college relationshipsMany forms of college relationships –Room mates –Instructors –Boyfriend/girlfriend –Relationships with family, friends, etc. that you had when you started college

3. College Friends One of the best things about going to college is meeting new people!One of the best things about going to college is meeting new people! Most students learn as much from college friends as from college professors!Most students learn as much from college friends as from college professors! Try to “diversify your friends”  make friends with people who are not just like youTry to “diversify your friends”  make friends with people who are not just like you

4. Developing Romantic Relationships in College Many opportunities to meet new people if you take advantage of themMany opportunities to meet new people if you take advantage of them Fewer or no controls on sexual expressionFewer or no controls on sexual expression Many people have first intimate sexual relationship in college (but remember 25% of college students never have sex while in college).Many people have first intimate sexual relationship in college (but remember 25% of college students never have sex while in college). If thinking about marriage  realize that the younger the couple is, the more likely the marriage will failIf thinking about marriage  realize that the younger the couple is, the more likely the marriage will fail –may be best to wait until college is over and both partners know who they are and what they want out of life Whatever your sexual orientation  there will be others at college who are the same as youWhatever your sexual orientation  there will be others at college who are the same as you –healthy to develop an attitude of tolerance to all sexual orientations

5. Breaking Up Happens to about 1/3 of freshmenHappens to about 1/3 of freshmen Hard to do but if have toHard to do but if have to –Do it cleanly and calmly –Try not to be impulsive and angry –Explain feelings  talk them out –If partner gets angry  try to avoid getting angry too –Time really does heal all wounds –So does hanging out with true friends

6. Off-limit Relationships Your teachers (including graduate assistants)Your teachers (including graduate assistants) Anyone who works over or for youAnyone who works over or for you Best to stay away from co-workers (sometimes hard to do)Best to stay away from co-workers (sometimes hard to do) Married personsMarried persons Rock/Pop starsRock/Pop stars

7. Relationships with parents during college Some parents “let go” better than others but all of them are trying to do what they think is best for you.Some parents “let go” better than others but all of them are trying to do what they think is best for you. Remember: your parents have never had you in college before and are learning as they go, just like you.Remember: your parents have never had you in college before and are learning as they go, just like you. Be aware of their concerns/worriesBe aware of their concerns/worries –Doing things that may harm you (wild parties, drugs, risk-taking such as unprotected sex (or any sex), etc) Try to see your actions from your parents point of view and keep them informed about most things.Try to see your actions from your parents point of view and keep them informed about most things. Parental clock always seems to lag behind reality (know you are older but still picture you as a child)Parental clock always seems to lag behind reality (know you are older but still picture you as a child) Impossible to know what they are going through until you become a parent yourself.Impossible to know what they are going through until you become a parent yourself.

8. Roommates Can be heaven or can be hellCan be heaven or can be hell Does not have to be your best friend, just someone with which you can comfortably share your living spaceDoes not have to be your best friend, just someone with which you can comfortably share your living space Best to put mutual rights and responsibilities in writingsBest to put mutual rights and responsibilities in writings If problems come up  talk it out and/or ask residence hall counselor.If problems come up  talk it out and/or ask residence hall counselor. Roommates will often provide you with a chance to look at yourself in a way no other person can do.Roommates will often provide you with a chance to look at yourself in a way no other person can do.

9. Managing Your Money The American economy is very complex. Dealing with it, both in school and out, takes care, thought, and foresight. Dealing with money is not something to be taken lightly.

10. Recognize the Incredible Value of School The majority of students who drop out of college have a GPA of 2.5 or above! Good money management frees you up to focus on your education. Money is often a necessary sacrifice during your college experience. Earning a degree will pay off tremendously  it will entirely be worth it (see Table 1.1, p. 12 in text).

11. Sources of Income: Get a Part-time Job Try to find work you like to do Look for jobs with light work loads “ “ “ where you can be your own boss Ask about sudden schedule changes Be aggressive in seeking your ideal job to have while in college

12. Work With Caution It takes a lot of money to go to college, but it also takes a lot of studying and hard work. The same effort to earn the required fees may hinder one’s progress towards actually earning the degree itself. Students who work long hours are more at risk for failing and dropping courses. Failing and dropping courses costs money– money you cannot get back.

13. Investigate Work Study and College Internships Work study programs are funded by the federal government They enable you to work on campus or in the community Awarded based on financial need Check for paid internships in your chosen field of study Can get good experience and interest of future employers

14. Sources of Financial Aid Grants Scholarships Loans Win the Lottery (right!)

15. Grants Federal Pell Grant –Based on financial need –No academic requirements or GPA minimums –Requires filling out the Free Application for Federal Student Aid (FAFSA) –Forms and information are available in your school’s financial aid office. Search the Internet

16. Scholarships Gift Aid: monetary award that is not paid back. Rewarded on the basis of -Academic merit - A talent or skill -Group membership -Religious affiliation Putting together scholarship applications can pay off substantially Be wary of scholarship scams Check with your financial aid office Check the Internet

17. Student Loans Loans must be paid back. The Stafford Loan & Perkins Loan: federal loans for students. Based on financial need. Most government loans offer low interest rates and deferred payment options. Requires filling out the FAFSA. Loans are available through other financial institutions.

18. Recognize Income and Acknowledge Expenses Count it all: current and summer job income, money from parents, gifts, and financial aid. Know where it goes: regular expenses and variable expenses Be honest with yourself Keep careful track of the money

19. Learn Ways to Save Large scale cutbacks. –Cheaper housing. –Get a roommate or additional roommates –No car–make use of public transportation (now available in Jonesboro). –Cook/prepare most meals yourself Small scale saving methods. –Clip coupons (can be time-consuming) –Shop at discount stores If you don’t have it, don’t spend it.

20. Where to put your hard- earned money… Checking accounts enable you to draw money regularly from your account funds through the use of checks. Savings accounts exist for the primary purpose of putting money in and rarely, if ever, taking it out. –Handout on compound interest Money market accounts are a more sophisticated type of savings account. Check for bank fees associated with each type.

21. Credit: Know the Basics Work to establish good credit. –Handle your accounts successfully. –Remain stable in your residence and job if possible. –Make timely payments for rent, utilities, loans, insurance, and credit cards. –Co-signing a loan with anyone means you are responsible should they default. –Pay credit card bills in full. –Consider what your credit report will communicate to those who view it–such as future employers, mortgage lenders, etc.

22. Credit Cards and College Students If used effectively, credit cards can be beneficial, but they can also be deadly: –With a credit card, you are likely to spend one third more. –If making minimum payment of $50 month on a $2,000 credit card balance at 18% interest will take 61 months to pay off (costing $3,050). –A $3,000 balance will take 149 months to pay off! (costing $7450)

23. Getting and Staying Out of Financial Trouble Protect your financial information. Understand the power of interest rates on credit cards. Deal with debt collectors sooner rather than later. Don’t work too many hours to pay off debt. Buy what you know you need, not what advertisers say you have to have. Where does the money go?