By ADIA REYNOLDS
Tiger Media Network
Tiger Money Mentor, Sarah Abernathy, gave a presentation on the basics of budgeting on Tuesday as part of Hays Public Libray’s scheduled life-skill series known as the “How-To” Series, a set of programs aimed towards young adults in Hays. Discussions such as the “How-To” series particularly benefit young adults who might not have participated in similar discourses during their everyday lives.
“Your budget is for you. If you want to spend $300 on XYZ and you can still meet your needs then that works,” Abernathy said. “Your budget does not need to look like anyone else’s.”
Abernathy stood at the front of the library’s main social space, armed with her knowledge of personal finance and a golden, well-designed PowerPoint.
“It was exciting because I knew people in attendance wanted to be there. It wasn’t like walking into a classroom where perhaps the teacher wants this more than the students,” she said.
For those not in attendance, Abernathy’s presentation systematically explained key topics such as the importance of budgeting.
“Your budget is your basic building block,” she said. “If you don’t have one, you’re just not going to have a lot of financial success because you may not know where your money is going.”
She discussed different types of budgets (Percentage Based Budgeting, Envelope Budgeting, Zero-Based Budgeting); and finally, how to stick to a budget.
Abernathy recommends a variety of free mobile apps that operate on one of these three principles mentioned above. Apps like YNAB, Goodbudget, Pocket Guard, and Real Budget are all designed to help with money management, an essential skill for all adults. However, Abernathy emphasizes in her presentation that if you don’t remain realistic about your financial goals, then you are more likely to abandon them.
“An important part of the money mentors is accountability where there isn’t judgment. We’ve all been there, we’ve made good financial decisions and we’ve made dumb ones,” she said. “We offer someone your age who isn’t looking down on you but is still there to help.”
For anyone interested in hands-on financial help, the Tiger Money Mentors are a free resource run by and for FHSU students. There are currently three mentors on staff who would be more than happy to answer any finance-related question a student might have. Another alternative Abernathy discussed is becoming accountability partners with one of your friends.
Furthermore, reading books on budgeting from the Hays Public Library and attending events similar to Tuesday are all steps that can lead to a more financially secure future. The “How-To” Series takes place at the Hays Public Library on the second Tuesday of each month, covering a wide spread of topics and necessary adulthood skills.
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