Home > Resources > Campus Life > Money Management > Resist The Urge To Splurge

Resist The Urge To Splurge

For as much as college students cry poverty…they certainly have a lot of very nice clothing. Just because you don't have a salary doesn't mean that you are making an insignificant amount of money—tips and weekly pay checks add up. It may not seem like it, but in college you have fewer bills than you ever will in your life—guaranteed. I didn't believe it either, but it's true. You might have a car payment, but most likely you don't have a mortgage, and your student loan payments won't become due until 9 months or so after you graduate.

ADVERTISEMENT

This article provides information that I wish I had stumbled across before beginning college and serves as a reminder to students that someday you will actually be out of college. And if you haven't heard, graduating is typically synonymous with losing your parents financial support. College life is a temporary state: if you have extra cash consider that in just a couple of years you will be out of school and money doesn't stretch as far with more responsibilities. If you aren't going to save, at least spend your money on things that you can take with you throughout the next 10 years.

Some things you might want to purchase before graduating:

Kitchen Utensils

These tools aren't cheap but when you have a kitchen of your own they are very necessary. Good utensils don't wear out; they'll take you through your college apartment and into your first house. Before throwing down 20 bucks for a lunch, consider that when you graduate you will need to make thousands of lunches and you will need some supplies to work with.

A Decent Suit

You can buy 10 cheap suits that will last two weeks a piece, or one good one that will last you a lifetime. Another piece of fabulous advice from a professor. After you graduate, you will go to dozens of interviews,attend sloshes of conferences, and enjoy many business lunches. You will need a good suit for such events, but the funds for one may not be available then. Invest in one before you graduate if you have the opportunity.

Small Appliances

This includes microwaves, televisions, stereos,and toasters. I'm not suggesting you start a collection of each but if you're bent on spending your money anyway, why not get something that will continue to give to you throughout the years? Forty bucks could get you a nice blender…milkshakes anyone?

Furniture

Typically, you move into a big empty apartment after you graduate. The key word here being "empty." It costs a great deal to furnish an apartment and it usually has to be done very slowly. If you can anticipate some of your future needs and have access to easy storage, I would suggest purchasing a few staple pieces of furniture because you will eventually need them.

Outerwear

You can't wear blazers and puffy parkas forever. In college, as far as dress is concerned "everything goes" is the rule of thumb. Not so in the work world. One day you will need to walk, talk, and dress like a professional. For men and women, a knee length wool coat is appropriate for almost every occasion. Again, this is a high ticket item, but a good coat could keep you toasty for a decade and maintain your professional appearance.

ADVERTISEMENT

Latest College & Financial Aid News

Avoid Student Debt at Colleges with No Student Loans

February 25, 2021

by Izzy Hall

Here at Scholarships.com, we connect students with scholarships that can help alleviate the amount of student loans they need to take out to pay for college. But there are colleges out there that offer students such generous financial aid packages that they need to take out very little in loans if at all. These “no student loans” colleges replace student loans in financial aid packages with additional scholarships and grants to help fund a student’s tuition. Students accepted into these schools will pay much less than the cost of tuition and thus will not be as burdened with student debt. [...]

Test-Optional Policies Drive Increase in College Applications

February 23, 2021

by Izzy Hall

Well-known and selective colleges such as the University of Virginia, Harvard and the University of California at Berkeley are seeing a spike in college applications due to their adoption of test-optional admissions for the 2021 admissions cycle. These record increases have led some schools to announce an extension of test-optional admissions into future years. [...]

Big STEM Scholarship Opportunity for HBCU Students

February 18, 2021

by Izzy Hall

A great scholarship opportunity for students enrolling at Historically Black Colleges and Universities (HBCUs) has extended through the end of Black History Month. The Future of Stem Scholars Initiative (FOSSI) will award 150 scholarships worth $40,000 over four years as well as provide mentoring and internship opportunities to select winners. The extended deadline for this scholarship is March 1st. [...]