2008 Woodie Awards
Budget Brains:
Your Money, and How to Conserve It
Kate Christmann
Issue date: 8/29/08 Section: Features
There's a reason the words "dirt-poor" and "college student" often belong in the same sentence. According to CollegeBoard.com, last year's seniors at a private institution like SAU paid an average of $23,712 to complete their four-year degree. Despite the rising amount of financial aid available, many students stress about spending money.
Short of writing Matthew 6:25 on your forehead in permanent marker, careful spending is the best way to ease those money worries. Here are some easy ideas you can put into practice to crunch the numbers:
Make a simple budget: Budgeting may seem like a huge hassle, but knowing how much money you have available to spend will help you spend wisely. Before you start the semester, figure out how much money you currently have. Make a list of all the necessities you will need to pay for in the next few months, like food and gas, and designate part of your total for the things you really need.
Next, make a list of the things you enjoy doing-visiting Sacred Grounds, ordering pizza, etc.-and set a reasonable amount of allowance for each month. Once you've set it, stick to your budget!
Use your HigherOne card: Not only do you need it for school refunds and working on campus, but your HigherOne card also provides you with a better alternative to the "bottomless" credit cards you've been getting ads for in the mail. Besides, HigherOne also makes it easier to track your spending, have your grandma send you money, and withdraw cash (there's a HigherOne ATM outside the DC).
Cook out of your room and cut down on your meal plan: If you find yourself eating pizza and Ramen more than DC food, consider switching meal plans at semester. Meals do not roll over into next semester, and every meal you don't use is wasted money. There are plenty of healthy, tasty, and inexpensive meals that can be made right in your dorm room or dorm kitchen.
In the same vein, cutting down on eating out will shrink your food expenses. If you've already ordered pizza during the week, skip the midnight Denny's run.
Short of writing Matthew 6:25 on your forehead in permanent marker, careful spending is the best way to ease those money worries. Here are some easy ideas you can put into practice to crunch the numbers:
Make a simple budget: Budgeting may seem like a huge hassle, but knowing how much money you have available to spend will help you spend wisely. Before you start the semester, figure out how much money you currently have. Make a list of all the necessities you will need to pay for in the next few months, like food and gas, and designate part of your total for the things you really need.
Next, make a list of the things you enjoy doing-visiting Sacred Grounds, ordering pizza, etc.-and set a reasonable amount of allowance for each month. Once you've set it, stick to your budget!
Use your HigherOne card: Not only do you need it for school refunds and working on campus, but your HigherOne card also provides you with a better alternative to the "bottomless" credit cards you've been getting ads for in the mail. Besides, HigherOne also makes it easier to track your spending, have your grandma send you money, and withdraw cash (there's a HigherOne ATM outside the DC).
Cook out of your room and cut down on your meal plan: If you find yourself eating pizza and Ramen more than DC food, consider switching meal plans at semester. Meals do not roll over into next semester, and every meal you don't use is wasted money. There are plenty of healthy, tasty, and inexpensive meals that can be made right in your dorm room or dorm kitchen.
In the same vein, cutting down on eating out will shrink your food expenses. If you've already ordered pizza during the week, skip the midnight Denny's run.
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