First year pitfalls

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Tomorrow marks a big day in the lives of many students It’s move in day at McMaster University. And while most are likely focused on the fun they are having, there is a lot that they have to watch out for.

When students live away from home for the first time, there is a tendancy to show a lack of foresight, like when students at Western University decided to turn their dorm room into a pool.

A recent study shows that the number one stressor for students at university is the fear of falling behind academically, but the second stressor is one that can sneak up on you. Money.”

Jane Blaufus is an author and business coach who says that parents need to have a talk with their kids.

“I call it the money talk.”

She says that students are likely sitting on the largest amount of money that they have every handled when they go away to school.

“A student needs to know first of all how to budget.”

A good budget can make the money last, but don’t give them all of the answers.

“If you do it all for them you never teach them anything.”

At McMaster there are resources like the success centre that works with students to go over what they want, and what they actually need.

“And how much money they have and help students figure out how they’re going to ensure that they have enough money for the month as well as for the year.” said Assistant Dean Gina Robinson.

And remember that it’s okay to have fun, just not too much.