What Strategies Helped Nick As He Worked Toward These Goals?

What strategies helped Nick as he worked toward these goals?

With the help of Michelle, Nick was able to develop strategies to work toward his goals. The main things he did was begin to save and formulate a budget for spending. Nick also started to control his spending. Before working with Michelle it is evident that he was an impulse spender with a multitude of credit cards. Another strategy that helped Nick budget for his rent every month was to save a quarter of his rent every week. This was a very effective way to ensure that he saved enough money to cover the cost.

As a student entering or currently attending college, what can you learn from Nick so you don't face the same financial challenges while in college and beyond?

Nicks story was not only inspiring but really did show me just how quickly one can lose control of their finances.

I know that it is inevitable that one day I will need to get a credit card however I am going to put that day off for now.

A great tip that I learned from Nick’s story is the idea of saving a quarter of ones monthly rent every week. I myself have an apartment at college and will likely be renting beyond my college career. Nicks tip guarantees that no matter how much one spends as long as the weekly rent it put aside one will be able to pay. This variation to the concept of the “paying yourself first” principal is not something I thought of doing. Before the watching Nick I always looked at the rent as one large sum payment but breaking it down to weekly makes it less daunting and more manageable.

The overall idea and concept that I learned from Nick is be a wise spender and don’t let your emotions control your wallet. It is very easy to get caught in the trap of just spending money and with high APR rates you can really hurt