Serving the campus of the University of Alabama since 1894

The Crimson White


Serving the campus of the University of Alabama since 1894

The Crimson White

Serving the campus of the University of Alabama since 1894

The Crimson White

Students can be fiscally responsible if they try

Students can be fiscally responsible if they try
Austin Bigoney

ShawBeing on a college budget is hard. Between the necessities – books, food, gas, etc. – and the not-so-necessary, it can be hard to keep control of yourself and your money. I recently discovered that my bank now offers an online budget, where you can categorize each of your expenditures and actually see where your money is going. Every. Single. Charge. Scary, right?

You can even set goals for yourself, and if you exceed your budget for the month, you get a text telling you. It sounds pretty nifty, but it’s got me a little worried now, because, let’s be honest, most of us don’t know anything about managing our money. For those of us that have jobs, it can be tempting to splurge after each paycheck on a late night or going to the movies instead of saving up. And for those of us without jobs, we have to rely on our parents or other funds to get by.

Now don’t get me wrong, I’m sure there are college students that are frugal in spending and already have budgets laid out for themselves. But somehow, I get the impression that these students are few and far between. And we can be told over and over again the importance of fiscal responsibility – but surely that’s for the government, not 21-year-olds.

Let’s be clear: I’m not here to tell you about the best way to spend your money or to shake my finger at your extra spending. I like to go out to eat just as much as the next kid. But I have picked up a few tricks along the way that have helped me squeeze by the past few years.

1. Order online. You’ve heard about getting textbooks online for cheaper prices, but you can order everything else too. And never settle for the price you see on the screen. Google the websites you come across and look for promotional codes – you can usually find discounts or free shipping. Also, Amazon Prime has a great student account where you can get free shipping for a year with their free trial.

2. Get a to-go box. We all know we spend way too much money eating out, so why not make it last twice as long? Studies show that restaurants almost always give you close to twice as much food as you actually need. So cut your burger in half at the beginning of the meal, save some of your fries and eat slowly. You’ll end up more full than you realize, and you have another meal or late night snack for later.

3. Turn off the lights. For those of you living on campus, this doesn’t apply as much. But turning off the lights when you leave a room can save a few bucks a month – and to top it off, it’s environmentally friendly too. You’re making Mother Nature smile already.

4. Reuse old school supplies. You’re never going to make it through an entire spiral notebook in a semester, so rip out your old notes and start fresh. The same goes with binders (just avoid writing the subject in Sharpie on the outside, that way your classmates aren’t confused when you’re studying Spanish out of your math binder.)

5. Use cash anywhere you can – especially at the bar. No one wants to come home with empty pockets, and bringing cash with you puts an automatic limit on your spending capabilities. Buying too much alcohol on your credit card also can hurt your credit score, so bringing cash with you is smart in more ways than one.

Jokes and tips aside, we do have a real problem on our hands. College students are not being prepared for life after graduation, where we have to pay bills and do our taxes and hold steady jobs to make an income. Make part of your education learning how to be responsible with your money and budget according to your needs.

See if your bank has a way to help you sort out your expenses, or move extra money into savings at the end of each semester. We are still in difficult economic times, and with job availability still not at its peak, we need to be prepared.

Mary Sellers Shaw is a junior majoring in communication studies and civic engagement. Her column runs biweekly on Tuesdays.

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