Tigernomics: Master Financial Literacy

Take Control of Your Finances with Tigernomics

What is Tigernomics?

Tigernomics is designed to empower students with essential financial literacy skills, helping them make informed decisions about budgeting, saving, investing, and managing debt. Understanding personal finance is key to long-term success, and Tigernomics provides the tools and insights needed to build strong financial habits for a stable future.

Helping New TSU Tiger Families Prepare for Smart Money Management

As you get ready to send your student off to Texas Southern University, discussing money management is essential for their success. Studies show that many college freshmen struggle with spending habits, leading to financial stress. In fact, poor financial decisions are a top reason students drop out of college. Ensuring they understand budgeting, saving, and responsible spending can help them thrive academically and financially.

A recent report from the Bill and Melinda Gates Foundation found that money management problems were the #1 reason for college dropout (learn more at: https://www.naspa.org/about/blog/money-smart-students-are-more-likely-to-graduate). 

Check out key financial topics below to support your student’s transition to college life:

Essential Financial Tips for College Students: A Parent’s Guide  

Step 1: Understand College Expenses

• Discussing college costs is crucial. Review tuition, fees, and living expenses with your student, clarifying the financial contributions you will provide each year. If they receive financial aid, ensure they understand how funds should be used and who is responsible for repaying student loans post-graduation.

Step 2: Budgeting 101

• Help your student establish a budget to track expenses and manage spending wisely. Teaching financial independence early reduces unnecessary purchases and builds long-term money management skills for a stable future.

Step 3: Opening a Bank Account

• Encourage your student to open a student-friendly checking account without minimum balance requirements or hidden fees. Show them how to monitor their account electronically, balance expenses, and avoid costly overdraft fees.

Step 4: Using Credit Wisely

• If your student plans to use a credit card, set clear expectations on responsible spending and repayment. Credit cards can help build a credit history, but unchecked spending can lead to financial stress. Teach them to distinguish wants vs. needs for a healthy financial future.

Step 5: Preventing Identity Theft

• College students are prime targets for identity theft. Educate your student on protecting personal information, avoiding oversharing on social media, securing documents, and creating strong passwords to safeguard their financial security.

Talking about money early fosters smart financial habits that can prevent excessive debt and set your student up for success. These conversations may feel challenging, but they’re essential for building a strong financial foundation. See more resources available to you below: