How to ATM (Avoid the Mistakes) with budgeting and saving

At the first in a series of eight webinars hosted by Student Financial Support, financial educator Shahar Ziv tackled the pitfalls of getting started on your budgeting and saving journey. Some top insights from the session include:

1. What you earn is less important than how you spend and save your money. A high income doesn’t guarantee financial security if your expenses are high and your savings are low. Spend less than you make, and do that on an ongoing basis.
2. You need to define your financial goals. Your goals might be really different than other people’s. Ask yourself:
   • What are you looking to do?
   • What timeframe does each goal have?
   • What will it take to get there?
   • How do you prioritize your goals?
3. Try not to equate budgeting with deprivation. It’s more about having an awareness of where your money is going. If your behavior is not moving you towards your goals, then those are empty goals. Budgeting is bringing your goals and your behavior into alignment.
4. It’s possible to save on a student income. Saving just $10 per week, avoiding lifestyle creep, and using student discounts, autopay, and “rounding up” apps can add up over time.

The full webinar is available below. Don’t forget to register for the next installment in the series, Let’s Get Fiscal: Investing for Beginners on at 5:00pm on Monday October 27.