Financial Literacy talks budgeting during the holidays


Shoppers making their way thru black Friday. Credit: MCT Campus.

Adriana Orozco, Opinions Editor

How can I be better at budgeting? How exactly do I start building my credit? These are some of the questions students had for the Financial Literacy Speaker Series that is held at San Diego Mesa College where experts from the California Credit Coast Union and the San Diego Financial Literacy Center hold a panel to answer some of the questions might have regarding credit or budget or how to be more financial responsibility.

   As the holidays are approaching one of the questions asked was how do I spend during the holiday without going completely broke?

“Always make a budget at the beginning of the year and save up to spend during the holidays that way you don’t feel the pressure of overspending.” Paul Lim, one of the guest speakers suggested.

Rae Russell explained her tradition for the holidays: “Another thing to do is handmade gifts, it’s a way to not be stressed during the holidays and my children love it and their friends want to come over because they know it’s the cool house were we make crafts and it’s contagious and it starts a tradition”

Guests speakers also give insight on how to be a better saver which is something most college students need when working and going to school. It is one of the most important skills to have and will be helpful as time progresses.

“Lifestyle and numbers are all relevant to people. If you are saving less than 10% of your income you’re going to want to aim a little higher. If you are saving between 15 and 20 percent then you’re doing the right thing. If you can save more than 20% percent of your income there’s virtually nothing that can stop you from succeeding in the future.”

Lim also explains that to start saving there should be a 3 month period where you test yourself and see how much you are able to save during that time. One of the important things to know when saving money is knowing that the money is there and if you ever need it for some time of emergency the money is accessible.

   Many students had questions as the holidays approach and everyone wants to know how to save money and be more responsible. The guest speakers had great advice and even some ideas on how to think out of the box when it comes to gift giving. There are some helpful tips that will help everyone and will help students survive the holidays.