Stephanie Bent, complex director for Brown, Hopper, and Lowndes Residence Halls, directed the Money Matters seminar on Tuesday in the Student Union, Meeting Room 2.

“When I was in Grad school, I would plan my budget for the whole semester,” Bent said.

Have you ever wondered where your money goes in a single semester? You may have received a $4000 refund check, but by the middle of the semester, you are all out of cash.

 Bent offered great tips at the seminar for avoiding this dilemma. Bent shared her budget strategy which allowed her to manage her funds for the entire semester by planning accordingly and creating a cash limit for each month.

Next, the seminar focused on distinguishing needs from wants.

Bent asked, “What would you consider a need and what would you say is a want?”

Responses from the audience members were skewed. Clothes ranked highest amongst necessities. Although clothes are a necessity, fashionable apparel is not required for survival.

Chloe Brown, freshman, said, “Sometimes people are so strict with their budget that they forget it’s okay to spend money on themselves.”

Although you are working with a budget, you should not feel bad about treating yourself sometimes. Remember, balance your “needs” and “wants” and know that SOMETIMES it is okay to splurge on a “want.”

Student loans are also an important factor to consider. Whether you choose to bury your student loan letters in the back of the closet or keep them filed neatly in your cabinet, they will stick around until you pay them off.

 Interest rates on loans are increasing, so take note of these rates and decide if they are worth accepting. Also, do not accept loans just because they are offered. Make sure the loans are necessary and plan ahead on how to use them.

A great site to help you calculate the interest on your student loans is finaid.org

For more information on budgeting and financial matters, check out the websites listed below.

SuzeOrman.com

Suze Orman, one of America’s top motivational speakers, is an expert in personal finance.

daveramsey.com

Dave Ramsey, author of the book, Financial Peace is an expert in finance and does seminars across the world.

southernsavers.com

This site contains grocery lists and coupons based on sales at different stores.