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Money Mondays
By Imagine Scholarships
Sherri Ross
November 11, 2024
🌟 Welcome to this week's Money Monday!
Money Monday: Small Changes, Big Impact – Building a Savings Mindset for Education
Saving for education doesn’t have to mean making drastic sacrifices. By adopting a savings mindset and making small changes in daily spending, you can create powerful results over time. Let’s explore how small adjustments can lead to significant savings for your educational goals.
Meaningful Story: The Power of Small Changes
Imagine this: You’re on a camping trip, settling in for the night. As you lie down, you hear the faint buzz of a single mosquito inside the tent. At first, it’s easy to ignore. But as you try to fall asleep, the mosquito buzzes closer and closer, making it impossible to relax. Just one small mosquito, but its impact on your comfort is huge!
This story of the mosquito and the tent isn’t just a camping lesson; it’s a reminder that small things, when repeated or left unchecked, can make a big impact over time—especially when it comes to saving money.
Meet Emma: a college student who wanted to save for educational expenses but felt her budget was already stretched thin. Instead of making a big change, Emma decided to start with small, consistent choices. Each day, she found one tiny expense she could do without: a daily snack from the vending machine, a drink on campus, or a small online purchase.
At first, these small cuts didn’t seem like much, but Emma stuck with it. After a month, she had saved $50. Over a semester, that grew to $300—enough to help cover her transportation costs to and from school. Just like that tiny mosquito in the tent, Emma’s small daily choices had a big impact on her financial situation.
The lesson? Small actions, like the choices Emma made, add up over time. Whether it’s avoiding a vending machine snack or cutting out a coffee purchase, each little saving contributes to a bigger goal. Remember: every little bit you save today brings you closer to the financial freedom to pursue your education without added stress.
Why is it even when we know what to do to save money, we still make bad choices and overspend? Here is a great video: Why we make bad financial choices -- even when we know better.
Words of Wisdom
“Little by little, a little becomes a lot.” – Tanzanian Proverb
Small steps forward, taken consistently, add up to remarkable achievements. Start building your future today with the power of small, intentional choices.
For College Students
Tip: Challenge yourself to find one daily expense you can reduce. For example, make your coffee instead of buying it or cook a meal rather than ordering takeout. These small changes can make a big difference over time.
Action: Calculate how much you’d save over a semester by swapping just one weekly expense (e.g., a $5 coffee once a week). Redirect those savings toward textbooks or a future tuition payment.
For High School Students
Tip: Start a small savings account, even if it’s just with spare change or a few dollars a week from a part-time job. Having a “college fund” now builds your mindset for long-term savings.
Action: Look at areas where you might be spending without thinking—like fast food or small purchases. Redirect that money into your savings instead, and watch how quickly it grows.
For Parents
Tip: Model a savings mindset at home by making a “college savings jar” visible for the family. Even small contributions can help children understand the importance of planning for education costs.
Action: Identify one family expense to cut back on this month and redirect it to an education fund. It could be as simple as cooking a meal together instead of ordering out.
For Educators
Tip: Encourage students to think about the long-term impact of small financial choices. Share stories of how saving a little at a time can help with education costs, opening doors to opportunities.
Action: Create a classroom discussion on budgeting and saving for future goals, helping students understand the value of each dollar saved.
đź’¬Quote of the Week
“A penny saved is a penny earned.” – Benjamin Franklin
đź’¸Resource of the Week
Imagine Scholarships can help students find scholarships tailored to their needs, reducing educational expenses. Visit Imagine Scholarships to see how a little time spent searching can have a big impact on savings.
For a limited time, we’ve brought back our $19.99 monthly subscription rate, so if you’ve been on the fence about joining Imagine Scholarships, now is the time. Click here to subscribe with this amazing offer!
📚️Fun Fact of the Week
Did you know that by saving just $10 a week, you could accumulate over $500 in a year? That’s enough to cover college application fees or purchase textbooks!
✔️ Challenge of the Week
Identify one small area where you can save $1–$5 each day. Whether it’s bringing your lunch, cutting back on snacks, or carpooling, find one habit to change this week. At the end of the week, calculate how much you saved and add it to your education fund!
đź’˛Scholarship of the Week
Looking for more scholarships? If you or your students aren’t already using Imagine Scholarships, signing up is your next step. Reply to this message or email [email protected] if you have questions about signing up your group. As the leading platform for scholarships, college, career, and life readiness, we connect you to scholarships you can actually get with expert guidance to make your educational journey simple and easy.
Have a wonderful week, Imagine family. This week, when you’re making a list of areas where you can save money, set aside a little time to brainstorm keywords you can use to search for scholarships. Think of words that describe you and your interests, your major and career goals. Using keywords like this to search will make it easier to apply for scholarships — the money is out there just waiting for you! Did you know our most successful students apply to 3-5 scholarships each week?
We want to know you!
We look forward to hearing from you soon!
Sherri and Team Imagine
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