Tanzania, April 30 -- Financial management skills are crucial for everyone, including college students, as they navigate the transition to greater independence and responsibility.

Many often struggle with managing their finances effectively, and they are not to blame. For many, if not all, college is their first money management experience. Many are usually not adequately prepared to handle their own finances.

This lack of money management skills can have significant implications for students and their overall university experience. Some even drop out of college due to poor personal money management.

Without proper budgeting skills, some students find themselves overspending on non-essential items, leading to financial strain later in ...