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Shantal Haboud Savings: A way of life October 15, 2013 Savings: A way of life

A degree is not the only thing that college students should be working towards during their collegiate experience. A savings account with funds for the future is something that is important, yet neglected by many people. So, if students choose to save their money, why is it that they choose to save their money? Do they have reasoning behind their savings? Many students aren’t aware of the answer to these questions; a savings account may not even be in mind. A savings account, budgeting plans and tips are a great way for students to start their way towards financial stability. Ivette J. Haboud, Mechanical Engineer at Renovis, has had a savings account since she was a student in college. “As soon as I started to receive financial aid, grants and scholarships, and I started my first job at the university, I opened an account up,” said Haboud. Haboud started saving her money early on in order to prevent being stretched too thin in the future. “At the time I was in college I was saving up for any emergencies,” said Haboud. Jacquelyn M. Summers, senior marketing major, starting saving her money right -more-


2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2-2 Haboud Savings: A way of life off the bat. “My parents set up a savings account for me when I was a baby,” Summers said. “A savings account is something we encourage parents to start doing while children are young. We also offer web tools that educate school aged children, teens, college students, and business owners how to be financially responsible with saving, loans, and financial future planning,” said Nydia Ortega, former Business banking specialist for Wells Fargo Bank. College students tend to have a hard time saving their money. With expenses left and right from textbooks, entertainment, tuition, car payments, insurance, and coffee, it is rough for students to have a balance even within their checking accounts. “In general people like to reward themselves for working by spending the money they earn,” Haboud said. Instead of planning towards the future, too many students plan for the weekend. Haboud agrees that many students focus on spending their money on things that are unnecessary. “Nowadays students spend their money for entertainment, where just a few decades ago, many people did not even have the technology we have now and they were still able to entertain themselves,” Haboud said. So that one does not graduate college with a negative balance in both checking -more-


3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3-3Haboud Savings: A way of life and saving accounts, it is important to see the necessity in saving money. Saving during one’s time in school will help pay off school and car loans, credit cards, life’s responsibilities (rent, insurance, necessities) and potentially, a future family. Summers believes that saving at an early time will reduce the amount of stress that comes with adulthood, “I always knew that if I wanted to live comfortably later in life, I needed to save as much as I could now.” After one graduates college, there is a potential amount of time that could be left open, not filled with an immediate job. At this time, students should have enough savings to keep them secure for at least one year. “Saving is important, especially if one graduates and has a hard time finding a job. Those loans (if you took out any) will catch up to you soon,” said Haboud. Now, you may be thinking to yourself, “I need to start saving.” Fear no more! There are some budgeting tips that one can take into account in order to add a little something to your savings account. The first thing that one should do is open up a savings account. It doesn’t take that much time to do so, and there are plenty of neat options that come with an account. “The alerts for minimum balance requirements are very helpful, as students can know when they are almost running out of funds, thus avoiding overdrafts.” Then, start cutting out the unnecessary purchases that you make on a daily and/or -more-


4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4-4Haboud Savings: A way of life weekly basis (yes, this includes the Starbucks Coffee). “Stop spending money in unnecessary things. Nowadays students spend their money on entertainment, where just a few decades ago, many people did not even have the technology we have now and they were still able to entertain themselves,” Haboud said. After giving those unnecessary purchases the boot, take a percentage of your paycheck and send it towards your saving account. Do this diligently and you will see your savings account increase little by little. “Save half of every paycheck & once it is in savings-think of it as permanent,” Summers said. Once that money is in your saving account, don’t spend it. Building discipline with the money that you have now and choosing to save some of it will help people in the long run. Take into consideration opening a savings account, cutting back on unnecessary expenses, and saving part of your paycheck. It is important to have something in the bank when the hard times hit.

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Shantal Haboud 7485 Red Clover Way Highland, CA 92346 October 12, 2013 8432 Magnolia Ave Riverside, CA 92504 (951)343-7777 To the Banner Newspaper, There are many students on the California Baptist University campus that don’t have saving accounts. They don’t have one either because they never thought of having one, or because they are not motivated to have one. In this article, saving throughout one’s time in college is pressed. This article discusses why students (those that are) are currently saving, the importance of savings, and gives readers tips on saving money. For this feature I interviewed a Jackie Summers, a current student at CBU with great saving strategies, Ivette. J Haboud, a former college student who started saving during college and graduated with $6,000 in her saving account, and Nydia Ortega, a former specialist at Wells Fargo bank. This feature will really motivate students to start a saving account and begin saving for their future. Thank you for your time. Yours in writing, Shantal Haboud


Newspaper feature #2