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James W. Pennebaker, Chair The University of Texas at Austin, SEA 4.212, Austin, TX 78712 • (512) 475-7596

Prof. Markman: "The 10 Habits You Develop In College That Will Save You Money In The Real World"

Posted: June 15, 2014
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Professor Art Markman was interviewed in an article in Forbes Magazine online on "The 10 Habits You Develop In College That Will Save You Money In The Real World."

 
The financial jolt of transitioning out of the college bubble can be a big one. If you lived on campus for all four years of school, you might not be used to paying for rent and internet and electricity on top of food, clothing and other living expenses. If you have student loans, you have to account for anything from $100 to upwards of $500 going straight to the student loan servicers each month. And if you lived solely on a meal plan for four years, you have to budget for meals in dollar amounts, not number of dining hall visits left.

 

The good news is that because you’re a recent college grad, you have a set of skills and habits that you picked up in school that can actually help you manage a budget and even save money – you just might not realize you have them.
 
“We tend to compartmentalize our lives, particularly academically. While people may be extraordinarily practiced at looking things up, we’re not well practiced in [asking ourselves] ‘how might this skill help me buy a flat screen TV?’” says Art Markman, a psychology and marketing professor at the University of Texas at Austin and author of “Smart Change: Five Tools to Create New and Sustainable Habits in Yourself and Others.” Markman says that students – or people who were recently students – need to take a step back and realize that they’ve learned to do a lot of things that can make their financial life better.

See the full article HERE.

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