Ask an Alum: Budgeting financially... and the fear of drowning in your own debt
This piece is the eighth in a series of “Ask an Alum” columns that will be periodically published online through a partnership between Elon University’s Young Alumni Council and The Pendulum. I am not here to beat a dead horse and tell you that you need to save money and budget your finances. Not only should you budget your finances on a monthly basis, but it would probably be a good idea to write out a weekly (and maybe even an annual) budget as well. But again, I am not here to tell you that. I am here to provide a little insight to the real world and what it could cost you. Just a few years ago, with the American economy booming, banks loved seeing private school students walk through the door to open bank accounts. As students at a great university, and one not necessarily considered to be inexpensive, we were just who the banks were looking for. What does that mean for me, anyway? Well, I can tell you from personal experience, it means they gave me the world as far as a credit limit is concerned and unfortunately, I enjoyed travel. Traveling abroad with Elon and for pleasure became my favorite university pastime.