Livin' Large
Christina CaldwellIssue date: 7/2/09 Section: News
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Free of parents, free of rules, free of a lot of responsibility you encountered living at home. But many college students these days are learning that a lot of things in life don't come free, like those necessities that have always managed to take care of themselves in the past - food, shelter and free public education.
Maybe paying thousands of dollars in tuition, just to sit in a dorm and eat ramen noodles wasn't your vision of college. Then, it probably comes as no surprise that a lot of students are getting a tough lesson in economics in a less-than-ideal economy - not in a lecture hall at a university, but at the school of hard knocks. Even affording those lackluster noodles and freeze-dried vegetables might stretch your budget beyond its capacity.
The term "tightwad" has never been so en vogue as it is now. Those people who have chosen to live frugally have been culturally embraced as of late, feeling free to dole out some practical advice, and surprisingly, very few "I told you so's."
So if you're wondering where the little money you make is going, here are few bad habits you might have developed that prevent you from living your life on the cheap.
1. You've been hitting the bottle - and we don't mean alcohol
Not everything you buy needs to come in a shiny package, say Jennifer and Peter Sander, co-authors of "The Pocket Idiot's Guide to Living on a Budget" and "573 Ways to Save Money." Bottled water and soda are two of the most commonly purchased items at the grocery store and their impact on your wallet hits hard in the long run.
Instead, buy a water pitcher with a filter. Brita filters come in boxes of three for about $15 and last about two months each. You'll pay that same amount for two cases of bottled water and you'll probably have to haul it up a couple flights of stairs.
As an alternative to soda, make sun tea. We live in a place called "the Valley of the Sun," so why not embrace it? It's healthier (it doesn't double as a rust cleaner for your car like soda does) and it won't break the bank.
2. What's yours is yours
At some point in a young adult's life, Barney the Dinosaur is forgotten. But his old theme of "sharing is caring" might be one of the best mantras that will get you through college without compiling massive amounts of credit card debt.
Before you spend hundreds on a new printer or mini-fridge, ask if you can borrow someone else's, Jennifer Sander advises. The "you scratch my back, I'll scratch yours" could prove to be wise financial advice. Put your leftover pizza in the guy down the hall's refrigerator and offer him free printing services for a semester. Everyone wins!
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