Financial Literacy 

Figuring out when to spend and when to save is important to control your financial life. Saving up for important life events and spending money on the demands of life are both necessary.

There are many things worth saving for - college, car, vacation, new house and especially retirement, so it is smart to start early.  Set a goal and be consistent. The first step is budgeting - allocating how much you can afford to spend and how much you should save. Setting a budget for anything and everything is a good idea, from dorm accessories to groceries. By setting budgets, you will be able to save money for the things that matter and not go overboard on unnecessary expenses. 

Savings, however, does not just mean putting money aside; it also means cutting costs. Try to stick to cash for everyday expenses, as it gives you more of an awareness of how much you are spending and helps you stick to your budget. Use coupons and eat at home more. Be conservative with your gas and electricity, and get rid of nonessentials to save money on your bills.

It is necessary to spend money on the demands of life, and it is also necessary to treat yourself once in a while, but spending your money wisely, luxuries are sometimes dressed up as needs. Make sure to always identify whether the purchas you are going to make is a want or a need. This will help you buget you income and allocate money for the things that matter more.