The DSC Sun article comes out today with my butchered piece on struggling college students. In light of what is to be released, I decided I wanted to give the reading public a chance to see what they are missing out on. So below, I've posted my article in its original form, and I urge you to compare it to the article in the following post. Please make note of the many, MANY changes.
Also note that the tips in the second article are far less simplistic than the tips I came up with on my own. Since I had to use a source, I couldn't just track down one-line financial tips that could be easily remembered. The only suggestion that I found that I actually liked, was the 12 cent Ramen Noodle reference in the second article. I prefer the rest of my original tips in article one to the lengthy, and sometimes vague suggestions in article two.
Please let me know what you think.!
Money is a priority on everyone’s list, whether it be to save or to spend. A college student’s financial goal should be to use any and all resources available to save their money, but there are a fraction of them who can’t seem to get their spending under control.
According to StateUniversity.com, the average college student spends about $13,000 per year, but makes only about $757 per month. This article is at http://www.stateuniversity.com/blog/permalink/The-Spending-Habits-of-College-Students.html.
The debt incurred while attending school can add up very quickly. Today’s student should spend with discretion, and budget wisely. Unfortunately, the number of college-goers who squander their earnings on luxuries is steadily rising. Where there was once a frugal freshman who ditched a daily commute in his car for a bus ride, and gagged down a diet of Ramen in lieu of fast food, there is now an A-list socialite driving a new Prius, talking on their I-phone, and having steak with friends 3 times a week.
This kind of lifestyle is a recipe for disaster in the years to come, especially if student loans are involved. Sometimes pride must be swallowed and a budget must be implemented. It can be easier that some people think.
Nursing student Jamie Avery from Kaysville finds that having fun doesn’t have to break the bank. “I love hiking and fishing,” she says, “you pay $2.50 for a cup of worms, and have a fun a day at the lake with your friends. You get to eat what you catch, so you don’t have to pay for dinner!”
Avery had another tip on frugality: “There are lots of deals on things, you just have to be willing to find them. I bought a great microwave at D.I.,” she added with a smile, “but don’t tell anyone!”
Communications major Hayli Hunt from New Harmony’s advice is to sell down. “I had two cars, and realized I didn’t need them, so I sold them both.” She is a champion of carpooling and walking, and says that it’s not a big deal with a campus of Dixie State College’s size.
DSC Financial Aid Director J.D. Robertson has some very good advice for students who are using grants and loans to pay for their education. He says that a “student’s focus should be on getting through school with as little debt as possible, and that takes sacrifice.”
One of the best things a student can do, according to Robertson, is to make a monthly budget. A student should write down their total income each month, and then prioritize their monthly needs. Set aside the money needed for tuition, books, housing and food first. He adds that small things like not upgrading your cell phone every six months and packing your own lunch each day can easily save you lots of money.
Robertson also notes that a student should never spend their loan or grant money on luxuries. “Financial aid is not made to fund a lifestyle,” he says, “it’s to fund your college education. It’s there to cover your tuition and fees, to cover your books, to help you with modest housing, and a little bit of transportation.” He says a lot of students get themselves in trouble by spending their loans on things like car payments, clothes, fast food, insurance, and other items that aren’t related to their education.
Here are a few small tips to cut your spending and escalate your savings:
-Shop Wal-Mart instead of the Mall
-Use Internet connections at school instead of on your cell phone
-Save the environment: Carpool or walk
-Skip McDonalds, and make your own meals
-Ditch the trip to Mesquite or Vegas and hike the beautiful red rocks
-Get a $1 movie at RedBox instead of a $7.50 flick at the theater
-Buy used books, and don’t forget to sell them back!
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