By: Kelanie Cuadrado , Staff Writer
For many students, college is the first time they are in control of the majority of their finances. You might now suddenly be responsible for paying your own bills, working a job that you need to make ends meet, or making the scholarship money you get in August last through December. Unfortunately, these new financial responsibilities come within a context where money is often unusually tight.
Not having enough money for things can be complicated. You feel like it’s such a project to choose what to spend your money on and what to save it on. You may become upset if you get money and then you have to spend it on bills instead of going out or buying nice things. After all, you worked hard for that money and want to enjoy it.
Stressing from money can be from not being able to afford something. Making the choice to go to college is a great decision but it can also be very expensive. “We have to put so much money into our education in hope of in return making money in order to have a good life of our own,” said Rae-Kwōn Andrews. Or if you don’t have a job, you may stress over not being able to buy the things you need. Also most college students want to be independent and not always ask their parents for money. “I don’t have a job and I need to depend on my parents (so sad) to put gas in my car, to pay for the payment and insurance. I want to be independent for the most part (gas, payment, pocket money) but not a lot of places are hiring or the times are just the times I am available”, said Freshman Hanna Kataria. You may save money from not living on campus, but you still have other things that you will need to spend money on. Such as food, gas, car, and college expenses.
Money can seem difficult to manage if it’s your first time managing since you are not used to it. Don’t worry. There are people who can help you or even steps that you can take to manage your money better or even reduce someone of your financial stress.
Talk to the financial aid office if you’re really stressed. If your financial situation in college is causing you significant stress, it may be because you’re in a situation that is financial unsustainable. While most students experience tight budgets, they shouldn’t be so tight that the stress they cause is overwhelming. Make an appointment at Trane Stop to talk to a financial aid officer to discuss your financial aid package. Even if your school can’t make any changes to your package, they might be able to suggest some external resources that can help you with your finances — and, consequently, with your stress levels.
Keep track of what you spend your money on. If you keep track on what you spend your money on, you will be able to view your spending habits. Set a budget, make sure that you stick to it. It’s important to know the difference between wanting something and needing something. Do you need coffee? Yes. Do you need a five dollar cup of coffee? No. Consider making coffee in your room to cut back on spending money. Or do you need new sneakers? Yes. Do you need the most expensive pair of sneakers? No right. Make sure you make smart decisions when spending your money.
Apply for scholarships. Applying for scholarships is always a good idea to help you pay for things. You may have to put some time in it and write essays and fill out paper work. However, if you win. That’s a chunk of money that you don’t have to stress about. So make sure you check around online to see what scholarships are out there and what scholarships your school offer. You never know you might be that lucky winner.
Don’t stress over things you can’t control. It’s important to remember that you cannot control everything. There will be times in your life that you have to let things run its course. You can’t control having to pay for food, clothes or important school supplies that you need. You will have to spend money during your time in college. However, that doesn’t mean that you can’t come up with ways to spend money wiser and save.
