Smart
Spending & Saving for Smart Students
By Scott McDonough, ENGL 490
Money can be hard to come by as a college student. After
the cost(s) of tuition and book fees to living expenses and lunch money, it seems
that the source of a few dollars is limited to either an allowance from the
parents or the earnings from a part time job. Unfortunately, you’ve exhausted
your last two cash resources on last weekend’s outing. So what’s a poor Frostburg freshman
left to do? Fortunately, a few simple suggestions on smart spending and saving
can help you manage your money more effectively in your first year at Frostburg State University and beyond.By Scott McDonough, ENGL 490
Quality
Over Quantity
The saying goes,
“you get what you pay for.” Although more expensive items are not always better
than more affordable alternatives, it is certainly true that you have to spend
a few extra dollars for more quality items.
However, quality wins over quantity for the Frostburg freshman looking to save and
spend smarter because quality items last longer. Of course, this suggestion
only applies to items you need, so if you can go without it, don’t buy it.
Limit
Your Spending Money
It is important
to enjoy yourself in college, especially during your first year at FSU, so set aside a little spending money to have some
fun with. However, try to keep the amount of money you earn greater than the
amount of money you burn. Set aside a budget, don’t use credit, and stick to it
throughout the semester. This way, you won’t spend as much and you’ll save a
lot more.
Take
Advantage of Student Discount Resources
As a new Frostburg student, you’ll have access to many student discounts from discounted prices to
coupons to special giveaways—take advantage of them. Use available discounts offered to FSU students like discount computer purchases or book buyback. Don't forget to take advantage of discounts offered on the internet like Studentrate or
from coupons from magazines and newspapers either.
Practice
Long Term Strategies
Starting the
practice of smarter saving and spending while you’re just starting your academic career at FSU will develop
long term saving strategies and smarter spending habits in the future. It is important to
think ahead to your possible financial situation after graduation, especially
if you have taken out loans or will be in debt from other forms of financial aid. In college, it can be hard to think far into the future when you’re whole
world looms on deadlines due within days, but a little goes a long way. Saving
even a few dollars every week can add up to a whole lot over the course of your
college career at FSU, and those few saved dollars can turn out to be a big help when
you need it most. At worst, you’ll have an emergency fund when money gets
really tight, and that isn’t such a bad thing.
Things are tough all over for poor FSU students from freshman to senior alike, but
there are several easy strategies of smart spending and saving while in college.
Sticking to a budget, buying only quality (and necessary items), taking
advantage of student discount resources, and practicing long term saving
strategies can help to lighten the burden on your wallet during college. Of
course, you can always hit up your parents or get a job for money, but as a
smart FSU freshman, you would do best in using as many spending and saving
strategies as possible to get the most of out your money.
Want more information on Frostburg State University's Class of 2016?
Visit my Twitter and Facebook for regular updates on all things concerning Frostburg's freshmen.
Want more information on Frostburg State University's Class of 2016?
Visit my Twitter and Facebook for regular updates on all things concerning Frostburg's freshmen.
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