Category: Misc.

How To Live Like a College Student

By cshortt
updated 4 months ago

How the average college student is able to live on hardly any funds. A charming tale of daring and prestige!

1. Budget

I’m not talking about “Oh I want to buy a nice T.V; I’ll just save a little every month”. I’m talking about planning-EVERY-penny-for-the-next-8-months budgeting.

This is hard.

Many people live outside their means. Actually writing down how much you have, and how much you owe, brings a lot of things into perspective. Not only will you gain a general perspective, but you will start to realize how much money gets spent on things like coffee, eating out, etc. Just a little tid-bit, the richest people in the world are most often the best budgeters … AND the stingiest with their pennies.

2. Alternate Transportation

Dust off that old bike and hit the streets. For some of you, this may mean learning how to use a bicycle (or whatever) again.

Not only will you save a KILLING on gas (and, maybe, insurance), but you’ll get into better shape too! This ain’t Mc Donalds, but it sounds like a 2 for 1 deal if I ever heard one!

NOTE: For some of you, this may not be the best advice. Biking 20km in a $600 suit then giving a presentation on your athleticism with sweat stains does not bode well in the long run. ... Sorry, some people frown on that sort of thing.

3. Cook At Home (Carefully)

This goes back the the whole budget thing.

You don’t have to be the next Emeril to get the job done. Learn a few good, cheap, healthy recipies and stick with them. Have enough so that you don’t get bored of the same old thing (I once ate Mac and cheese for two and a half months straight … although mac and cheese doesn’t fall under the “healthy” category … a feat I’m not so proud of).

You’ll save huge amounts of cash from eating out and you’ll be eating healthier too! There’s that whole 2 for 1 thing again.

Plus, for those guys out there, chicks dig guys who can cook a good meal from scratch. Make it a date thing if need be.

4. Room It Up!

Swallow your pride and get a roommate!

Sure, your entire collection of 80s rock records needs room, but it’s time to make more! (limitations are required however – Don’t try to squish 4 guys into a 2 bedroom apartment … people will start asking questions).

Sure, there are bad roommates, but there are also amazing and fulfilling roommates that leave a lasting impression on you. Those are the type you want … The good rommates that is.

With a split living expense, you’ll be raking in the dough while still rocking out to those SuperTramp tribute albums. Give it a try!

Even if it doesn’t work out, you’ll have an amazing party story to tell about how your roommate was basically Satan incarnate and you had to throw your entire “home-brewery kit” at him, piece-by-glorious-piece, just to keep him at bay waiting for the priest.

Just to prove it, show them the scars. No-one asks questions once you show them scars.

5. Need vs. Want?

In a world full of instant decisions and credit card transactions, it’s pretty hard to cool down from that presentation about how the 72” flat-screen will blow your mind.

But what about that little fact that you have no 72” space in your entire house. You COULD roof it; but your necks will thank you for buying the 36” equivalent that was one tenth the price.

The point being, if you really want to buy something, think about what you are doing. Think about what this purchase will take away from you.

NOTE: I have found that if I take a girl friend with me she can usually give me a good opinion to level me out when buying guy-stuff like a T.V. And ladies, try taking your guy friends with you. We may not say much when you’re in the lingerie store, but when the large purchases start rolling in, we might have something to say. What you’re looking for is someone who will, (a) not personally benefit from your purchase, and (b) who does not share your taste; no matter how glorious your taste may be.

6. Save vs. Credit?

This one’s hard. Similar to number 4;

You see something you MUST have and you WILL have it. Now you must decide to buy now (on credit) or save up to buy later (the save option … for those who didn’t catch that).

Depending on the type of credit card, this could be a costly decision. Interest rates on cards can be brutal and that credit rating thing stays with you for a long time. This is grey ground for most (even the humble college student – I know many who struggle with this).

For me, I treat my credit card like a debit card. I do not make any purchases that I can’t pay off immediately. This ensures that I never miss a payment and, that I still have that security for emergencies.

Let’s face it, emergencies DO happen, and that is why you have a credit card. If you are using your credit card to pay for things that you can’t afford, you’ll suffer at the end of the month when the bills start coming in. (NOTE: see budgeting)

7. Treat Yourself!

After all this scrimping and saving, what have you got to show for yourself? A full bank account? Maybe a healthier lifestyle? You will also, most likely, be grumbling a bit because you are sitting on the “have-not” side of the spectrum. Or at least that’s how it looks.

Now it’s time to treat yourself.

I, myself, make one or two major purchases per year (depending on my cash and purchase amounts). Other than those two purchases, I spend as little as possible on “want items”.

Buy something nice.
Buy that new surfboard you were ogling a few weeks ago.
Buy that new suit you loved but stuck so hard to your budgeting practices.

It’s time to collect. Just remember, don’t break the bank. Don’t go into debt for something stupid or that you can’t afford. Make it reasonable, because – much like eating – the power of this lifestyle is in breaking things down into bite-size portions that are more easy to handle.

Getter Done!

These 7 points will get you started on your way to becoming what every college student already is.

They may help you with some money problems, or, if you’re filthy rich, they’ll help you live the coveted life of the average college student … but I could help you with that by relieving you of that troublesome burden known as cash. I must be a saint!

Most of these points fall under the “general financial advice” label, but that’s how college students do what they do! ... What? Parties? Drinking? ... I don’t know anything about that … :D