Some tips on financial management and stretching the dollar.
College is an investment that sets the foundation for a successful career.  
Students look forward to the day when they can walk across the stage and obtain the diploma that grants them access to live the American dream.  That pursuit of happiness however, is a long-term commitment that requires an infinite amount of time, discipline work ethic, and, most importantly, money.
A substantial percentage of college students in Louisiana have to source means of financial support when starting a new academic year. They may find relief from financial burdens in forms of scholarships, stipends, student loans, or family aide.  Though they may not be aware of successful ways to manage their funds so that it will last.
LSU Cale P. & Katherine Smith Student Financial Management Center executive assistant Emily Hester advises students to plan their budget and keep track of spendings when entering the school year.
“The first step in that process is to know what is coming in, what is that income?” Hester said.
Sources of income may be an influx from working part-time jobs, leftover scholarship money, or perhaps monetary support from family.  Students should then continue to track their spendings.  A good habit may be to check their checking account at least once a day.  This will ensure students that they are aware of what they are spending, and what is left over in their account. This routine helps individuals make better financial decisions.
“For example, if you budgeted $50 to go out to eat in a given month, well if it’s halfway through the month and you’ve already spent $40 of the $50, then you can’t just keep eating out for the rest of the month,” Hester said.
It is common in college for students to work either on or off campus jobs to support themselves.  Some students may have the responsibility of paying for their rent and other household bills, or simply to provide extra change in their pockets.  It is recommended that full-time students should work no more than 20 hours per week.  Doing so may affect an individual’s performance in school.  
“Often times working on campus has more flexibility because it is faculty and staff on campus who understands that changing life of a college student a little better, but certainly there are great off campus jobs that students are successful and working,” she continued.
LSU graduate assistant Raylea Barrow suggested to start the new school year with a plan in mind.
“For incoming and first year students, it is really important to come in with a plan to know how you are going to pay semester by semester for college,” Barrow said. “ What we’ve seen in our appointments is that a lot of students don’t really have a good mindset or have a talk with their parents about how they want to pay for college.”
On campus resources are provided to students to take advantage of, such as meal plans, that cut the costs of spending on food.  The Baptist Collegiate Ministry at LSU also offers free meals to students on particular days of the week.  LSU Campus Life hosts free events to students including Movie on the Parade Grounds that feature new releases, Silent Disco, and more.  The LSU Health Center is another resource that saves students the trouble of paying for a doctor’s visit elsewhere, because it is already included in the fee bill.
Students can determine personal methods of how to balance the urge of spending based on want versus need.  First-year students may be susceptible to spend over their budget, because it can also be their first time handling this responsibility.
“I think often times for that first year, it’s sort of sink or swim, because either you have that experience of managing money on your own and you do really well, or you did the opposite and you are struggling to be able to pay for everything,” Hester said.
Family could also play a role in an individual’s behavior and actions towards finances.  For example, if a student grew up in an environment where their parents or guardians saved more money than spent, it is also likely that the student too will save more.
“Families are actually the biggest indicator of how a student will manage their money because they see how their parents or guardians have spent money, and then they often emulate that without even realizing it,” Hester explained.
The center is devoted to helping students manage their funds responsibly and successfully by providing several resources for all circumstances and situations.
“I encourage students to come visit us,” Barrow said.  “I think there are a lot of great resources on campus that students may not know about and are utilizing that are free, and I think we are one of those options.”