College students can’t catch a break. From bills, to weekly quizzes and papers and exams, to jobs, to internships, to health, to fitness, to friends, parties, families … it feels like it never ends. Trying to decide between making money, having a social life, and getting good grades is tough. There are so many different pressures on us, and the last thing we should have to worry about is if we’ll have enough money for groceries. I know when I worry about money, it ruins my whole day. So I’ve developed a new way of thinking. Here are some new thoughts on money for all of us.
1. When we’re worried about our bank accounts, we’re not taking account for our lives. When I used to get all worked up about money, I told myself I couldn’t go out to eat, go to the movies, get coffee with friends, or anything that I considered “unnecessary.” But when I saw all my friends going out and having a good time, I would get really sad. When you’re doing this you aren’t living. You’re not making a statement. You are only going to be this age once, so if you have to spend some extra money once in a while to go out and have fun with friends, do it.
2. Your college years are not your time to save. Let’s be honest, the $50 you squeezed out of your last three paychecks isn’t going to make a difference in that $20,000 in debt you’re going to have. Don’t get me wrong, having money in your savings is amazing, but, if you are trying to save so much that you aren’t letting yourself live, don’t worry about it. The goal of getting a degree is so that you’ll have a good paying job to pay off those future debts.
3. Take out the loans you need. I used to think that taking out loans was a death-sentence. But, this is the time to take out loans, if any. If you have to work every single night just to buy groceries or gas, then you’re not going to be living the life you love. Only take out the loans that you need to get you along. And don’t go spending your loan money on silly items you don’t need, like a pet chameleon or a back scratcher.
4. Be frugal, but don’t be stingy. Don’t be the cheap-o roommate who never buys toilet paper or eats everybody’s eggs. But, also, don’t be the one who goes out to eat every night. You also don’t need the expensive brand-name groceries or cleaning supplies. Save money on small stuff that isn’t as important. Be smart. You don’t need the Kleenex brand tissues when you could go to Walmart or target and get the off-brand and save $2.
5. Money comes and goes. One year you could have $10,000 in your account, and the next year you could have 10. Don’t let money control your life. If you want to do something, work for it and do it.
6. Travel. And travel as much as you possibly can. Spring break?? Go!! It’s a once in a lifetime chance. You’ll only be in college for a few years, and going on a vacation with your best friends is definitely something you should experience at least once in your life.
7. Pay your bills on time. Late fees suck. Paying a late fee is like getting a punch to your irresponsible face.
8. If you want to be happy, you have to let the stress of money go. You have to. It’s so important … It’s actually a very simple concept. If you need money, work. If you need more money, work more. I know there are a ton of layers that fall beneath these words, but if you’re looking at the bigger picture, it makes sense. Think about it: how often do you say to yourself, “I’m so broke,” “I have no money” ... Probably all the time, because, well, you’re in college. But, what if you just let that thought go? What if you stopped telling yourself that you aren’t broke. Manifest positive thoughts about your money, and those positive thoughts and vibes will come to you.
9. Those $5 on coffees every day do. Add. Up. No matter how much it pains me to say this (because I love getting coffee every day), you have to limit it. If you looked at your bank account and put together an estimate of how much money you spend on coffee, would it be a realistic approach to how much you actually want to be spending on coffee? Be realistic on if you actually need it or not. Yes, treat yourself to a coffee once or twice a week, but it is so much cheaper to make it at home.
10. Buy groceries! I cannot stress this enough. And ONLY buy small amounts at a time. If you go and spend $60 on groceries to last you 2-4 weeks, chances are that your fruits/veggies/dairy are going to go bad. I recommend sticking to about $20-25 every week and a half. This way, you can buy small amounts at a time so you won’t end up buying too much and have fruits and vegetables that you can’t eat in the time they go bad.
