Welcome to the bimonthly Q & A Edgewood College Student Experience Blogs: Twice a month we post a question, and current Edgewood College students answer the question based on their own experience as an EC student. Feel free to add your own two cents by posting response comments. Enjoy. (don’t forget to check out the EC MySpace page as well)
A: Coming from a girl, I’d say try not to spend too much of it on clothes and accessories, as tempting as it may be. Though it provides temporary happiness to buy those three pairs of pants and two new pairs of shoes, five years down the line you’re going to wish you saved the money for books or something. Sometimes it seems like my part-time job is just paying for my spending habits with clothes…
A: Keep a watchful eye on your money. If you don’t, it disappears fast because you go and buy stuff without thinking.
A: If you are working, put that money into a savings account and save it. If you live on campus and have meal plans or money try to use those as much as you can, save your money for special occasions (but not a lot of special occasions). Try to set up a budget for yourself of about how much you think you will spend and always save more than you spend. Also attend activities that the school puts on for free rather than having to spend your own money.
A: I guess the best money tips I have is to budget. And evaluate every purchase—do I really need this shirt, will I, in all reality, actually wear it? I tend not to spend a lot of money because I don’t have a good sense of how much I actually have. I may order pizza once a month, and that is all I spend. Another way to limit spending is to only bring a certain amount with you. If you are going to the mall only bring 20 dollars and then it is not possible to spend more than that amount.
A: Managing money has been difficult for me this year because I do drive in and I have to pay for gas unlike students who live on campus. But the best way to manage money is to get a decent paying job and get an amount of hours that you can live on. I also recommend saving money instead of spending it on shopping or other things that really aren’t needed.
A: I usually try to limit myself to spending $20-30 a week on entertainment and outings, and I save the rest of my money for necessities (food and clothing) and when I save enough I can make a large purchase. For example, my boyfriend and I went to Peru last year over winter break. I definitely recommend a loose budget.
Wisconsin Dells, WI
Major: Deciding (Possibly Communications)
A: Keep track! Know what you have coming up that you’re going to need some cash for. And always keep a little extra on the side if you can for something that might come up sporadically. What got me the most, was going out to eat in the beginning of school. Try to limit yourself to only eating out once a week. Use the money that is already being put towards food for you on campus and treat yourself with something special every once in awhile. If eating out isn’t a problem for you, something similar could be yours. The main thing, is to just keep track of how much you’re spending.