Useful Study Tips for Finance Students
Many students find a finance degree challenging because it involves a combination of both theoretical and practical subjects.
If you are interested in a career in finance, you need to develop the right skills and interest in finance subjects.
It is normal to struggle with certain concepts and problem-based questions because finance subjects tend to deal with a lot of these.
Let us take a look at some useful study tips for finance!
Remove All Distractions
- Studying finance subjects requires a good level of concentration and focus.
- If you are surrounded by distractions like constant phone notifications or people talking loudly, you will have a hard time getting anything done.
- Study in a quiet environment like your room or the library. You don’t want to be interrupted while you are in the middle of a complicated problem or calculation.
- Make sure you only have relevant pages open on your laptop or device. Don’t look at shopping websites or any other sites while studying.
Take Notes and Keep Them Organized
While taking down finance notes, consider the following tips.
- Note down the main topic name and the date the subject was taken in class.
- Decide which style of note-taking works best for you. Some people study best with detailed notes which include every point. Others, especially visual learners, work well with flow notes which make use of flow charts and diagrams.
- Keep your notes organized. You don’t want to find theoretical statements on one page and related problems on the page of some other book.
- Since finance involves a lot of practical subjects, it is wise to maintain a separate notebook for the practical part.
- Highlight important formulas and equations.
- Being organized during studying will also prepare you to be organized in internships and freelance jobs as well.
Use the 3-Step Elements Model
Applying the 3-step elements model can help students solve complicated questions much faster.
In this model,
- The first step is to describe the problem which is in front of you. You can write a short description or note down the main points.
- The second step is to analyze the problem in detail and write down the analysis.
- After completing the two, the third step involves coming up with a solution or evidence based on the first two steps.
Read Business Reports and Papers
- Apart from learning about the theoretical parts of finance, you have to know how it works in real life.
- Business papers will give you an overview of the different financial markets, the latest financial trends, and other important events happening in the world of finance.
- As a finance student, you should be aware of the latest developments because it will give you an insight into the industry.
- While attending job interviews, this practice will help you answer questions the interviewer throws at you.
- If you want more practice studying business reports or plans, you can get one written by professional writers at Writers Per Hour.
Refer to Previous Exam Papers
- Solving past exam papers will help you understand the question paper pattern and the kind of questions you will get for the exam.
- Have a notebook with you and note down important questions in the paper. You should also take note of the questions you are unable to solve so you can ask someone to help you.
- The question paper pattern is most probably going to be the same so this will give you some good practice.
- Taking breaks between study sessions will help you clear your head and be refreshed.
- Studying continuously for more than five hours without a break is going to drain you out.
- You are also less likely to remember all those formulas and equations you learned during that session.
- Take 5-15 minute breaks every 1 or 2 hours to help you study more effectively.
- Take as much help as you can from online resources, professors, and friends.
- There are plenty of videos on YouTube which are helpful for understanding difficult concepts in finance.
- The most important thing is to be consistent in your study routine.