In this conversation, Tommy and Jordan Acer explore financial preparedness for college students. They debunk common misconceptions, such as the idea that all college students are broke, and highlight the risks of credit card debt and the value of maintaining a budget. Jordan stresses the importance of financial conversations between parents and high school seniors before college, along with tracking expenses and differentiating between needs and wants. They also touch on the significance of financial planning and share tips on saving and investing for the future.
Questions to consider while listening:
- How can tracking your spending over a few months help you create a more effective budget for college life?
- What conversations do you need to have with your parents or mentors about financial responsibilities and expectations before heading to college?
- How can you start distinguishing between needs and wants in your spending habits, and what lifestyle changes can you make now to live within your means?
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