What is Financial stress and how it impacts students? | goWave by RHB
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What is Financial stress and how it impacts students?

Going to university is a stage where students are becoming adults, learning new things and experiencing new pressures from having to be independent. Among the pressures that affect studies, money is one of the problems that many students may face. Tuition and fees are heavy burdens for students from low income families, and these can lead to financial stress.

So the question is, what exactly is financial stress?

Financial stress is the worry, fear and anxiety of financial problems. Sometimes it can even impact our physical health through problems such as insomnia, headaches, fatigue and many others. Financial stress can have negative effects on students, such as:

Poor mental health

Financial stress makes students feel unstable and can make them stay away from people around them. They feel scared, stressed and depressed. They find it hard to focus on their studies and are full of sorrow. Therefore, the results of their studies will decline.

Poor physical health

Most students with financial stress could not sleep well, and it causes many physical problems such as headaches, muscle tension, stomach problems, palpitations, trembling hands and fatigue.

Malnutrition and physical deterioration

Students who have financial stress try to save money and decide to have extra work to pay off their debt, tuition, and monthly expenses. But it also has negative consequences. They try to cut down on food expenses and choose foods that are cheap but less nutritious. In addition, they do not have enough time to go for health check-ups and exercise.

For some, the end result of financial stress is to drop out of school. This, however, is only a short-run solution, but it will worsen students’ financial situation in the long run. Students who dropout of school will miss out on opportunities to earn more money and they have to handle much more expenses in future. Financial pressure is inevitable because students need to pay every month, but it can be reduced if students develop their financial literacy.




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