Several GED Scholar students are able to share how they managed financially while attending the university. One student, a single mother, created the GED Scholars Initiative Bridges Program Budgeting Worksheet as an example of how she successfully managed her money each semester. Conversations with students focus on determining their wants versus needs and how to actually create a budget as many students have never kept track of their spending habits and struggle with money management. We ask that students document their spending for the week by providing them with a Daily Spending Diary on the first day. Using what they have learned about their spending patterns, they begin to build a budget based on their own monthly expenses. We also provide the financial planning workbook from the National College Transitions Network Mapping Your Financial Journey: Helping Adults Plan for College. Planning for college is often an area where students will need more support and is an excellent topic for mentors to guide new students through the process of setting financial goals.
If students want to continue their investigation of money management, they can complete the Financial Planning Moodle online. This online course includes modules on financial aid and money management techniques.
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