I'm Broke

Submitted by Becca McGilloway on Tue, 2011-07-05 23:19

In college one of the hardest things things is the lack of money. Many students have to resort to finding ways to pay for things. Your tuition and house and board will cover the basics like food and classes; but you will need money for other things especially if you have a bathroom in your dorm. You'll need to provide your own cleaning products. Even if you don't, you will have to stock up on shampoo and conditioner every so often. The cafeteria food wont always be what you want either, so you'll need money for going out to dinner and things that you do on weekends. Basically, it's always good to have some extra cash around because you will always find a need for it. This article will talk about the different ways you can make money while at college without messing up on your classes. First, you need to make sure your time management is perfect. If you spend too much time working, you could end up missing classes because you're tired or falling behind because you're too busy to study. Make some time in your schedule for a few hours a week, and weekends and find when you can work. The first thing students usually do is accept a work study from their school. When you receive your fasfa, it will list on it if you were accepted to do a work study. Some schools though, pay off your tuition instead of giving you extra cash so make sure you find out before you accept it. The great thing about work study if that you can usually study while on the job and then you don't have to worry as much about falling behind. Usually, you will work in the schools library or school store. You can bring your books with you and catch up in all of your classes since you'll be bored and it can work out to your benefit along with getting some new money. If you weren't accepted for a work study, you will need to find something else to do with your time to make some money for school. You might want to find a part time job. A lot of places around campuses will understand that you have a busy schedule and will usually give you a job with hours that are workable with your college classes. If you can only find a job where it interferes with your classes, don't accept it. It's not worth the extra money because you could end up failing out of school because you could fall behind in your classes. Another option is finding a job online. It's hard to find one but a good google search will help you with that. Another thing you could do is take surveys online. Look up ones that are certified that way you wont have to take surveys for nothing. In the end, you'll want to find something to help you out in college and take the pressure off of being broke.

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Fri, 2011-09-30 03:49

navyatha

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Joined: 2011-08-12

Yeah I used to envy those

Yeah, I used to envy those people who used to work at my university's library. It is good job compared to work else where on the campus. I worked in the administrative department. It was all that bad. The pay was meager, but the hours were flexible. Still, I couldn't study while working. I was an international student, so I don't think I was considered a priority when allotting on-campus jobs. College can be hard for students, who have to manage everything like money, studies and work. Lack of money can be a big problem for sure. Finding extra ways to make money is always a good is idea.

Mon, 2011-12-05 18:31

Michelle

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Joined: 2011-06-24

Being broke is not always

Being broke is not always about having a job or not but also applies to how your money is being spent that can lead you to become broke. Spending full price for food at the grocery store can make anyone broke fast, instead use coupons. When eating out find online coupons for the restaurant. Want to go to the movies; go to the movie that it's less expensive than the nighttime movies. Driving your own car to school; try to walk, take the bus, or a bike this will save you a lot of money. It's not always about how much you make but more on how wisely you spend.

Mon, 2012-07-30 12:44

Mercer Smith

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Joined: 2012-05-05

I think that going through

I think that going through those broke times in college really teaches you about how to survive and take care of yourself. A lot of the skills that I now utilize if in a desperate situation were ones that I first cultivated when I was a struggling, super poor student in college. I learned that I was capable of putting food on my table by using an "any means necessary" kind of living style. I would sell books, personal belongings, and a number of other things just so that I had the money to take care of myself, pay my tuition and buy books. The person above had a good point when she talked about driving your own car to school: I picked up biking, quit smoking, and also kind of stopped eating out as much. If I did eat out it was somewhere that I would get a great deal of food for not a lot of money, that way I could eat it for days, instead of just one sit down. Finding inexpensive food at the grocery store is also a good option: ramen, tuna fish, and other staples make for great meals if you can be creative. Overall my advice would be: don't worry about how broke you are, the more you stress the worse it will be.

Tue, 2012-08-07 00:20

Tomochka

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Joined: 2011-12-19

Money management is an

Money management is an amazing skill that most people acquire during their college years. I’m not a big fan of loans, but it helps to have the opportunity to take one from school when it is needed. Therefore, it may be a good idea to sign a master promissory note even if you do not exactly plan on taking out a loan. It would be a good emergency reserve.

I think, working while in school is possible and a very good way to stay afloat financially. Having a part-time job with a flexible schedule (it is double awesome if it is on-campus, triple awesome if you enjoy what you do) teaches to avoid careless spending and work on a budget. I know many students who get most of their money for everyday activities from their families, and they are not very respectful towards that money. They go out more than necessary and buy useless things in the end begging their folks for more food money. However, those who work, usually know how hard it is to earn, but easy to spend, and are more careful with their finances. Things like beer and cigarettes are not only useless, they are harmful too, so it would be a good idea to kick the bad habits. Getting rid of cable will also save you some money. Other possible ways to save the bucks may include getting rid of the off-campus gym membership (most of the time, on-campus gym use is included in tuition) and for girls – less make-up products and designer clothes. Investing yourself into cooking at home not only saves money but also makes you healthier (if you do not rely on Paula Dean’s cookbooks of course) and leaves you with more food in the end. One other thing that helps me keep control is to be writing down how much money did I spend every day and what for. That way, it is easy to track your spending and make necessary adjustments to your budget.

Wed, 2012-08-22 16:06

Kassandra1408

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Joined: 2012-07-18

Budgeting

We all know how expensive our college tuition is. Most of us prefer not to get a job in the first semester so we can settle in first. But college life is very expensive, debts keep piling up, and sometimes we forget that money doesn’t grow on trees. Between different fees and rent we also have to save something up for our social life. It won’t be easy, but we’ll make it. At least that’s what we tell ourselves. Truth of the matter is that we tend to be irresponsible, especially when it comes to money. So we need to create a realistic and working budget before we even head out to college. I think that the first thing we need to do in order to achieve this is to create an income and expenses sheet and write down all expected sources of income and how they will be spent. You need to add up absolutely everything, from books to laundry charges. You need to be aware where all your money goes so that maybe you can be able to save more. For example, by making your own coffee or bringing your sandwich to lunch breaks you can actually save up and enjoy a more active social life.

Wed, 2012-08-22 16:06

Kassandra1408

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Joined: 2012-07-18

Budgeting Tips

It’s a smart idea to use a separate account for your dorm/rent fees so that temptation doesn’t get to you. By cutting this sum out, you will know exactly how much you have to spend on other necessities/activities by the end of the year. It’s probably a good idea to divide the entire amount and see how much you have on a weekly/monthly basis. If you do want a part-time job, make sure it’s less than 15 hours per week so that it doesn’t interfere with your studies. Working too hard leads to exhaustion, lack of focus and thus a poor GPA.

Take advantage of the student advisor at your university. They can help you manage your money better. Get information on free student banking and make an informed decision. Be on the lookout for discounts – there are plenty of sites out there that offer vouchers, contests and have the latest items on sale. There are also many student deals in restaurants, cinemas and bars. All you have to do is look for them. You can also trade your skills online doing freelance work. Designers, writers, translators, virtual assistants, marketing and business students can find plenty of projects on specialized sites.

Wed, 2012-08-22 16:07

Kassandra1408

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Joined: 2012-07-18

Other tips

Learning how to cook is another good idea. The college canteen might seem like a good idea, but it’s less cost-effective. You can easily fix yourself something to eat in 15 minutes or less. You just have to be willing to learn it. Making your own sandwiches, refilling your bottle of water or juice and even bringing your own coffee can be a long-term investment. You can also find cheap veggies and fruits at the market, and I’d advise you to buy own-brand labels in stores. That and a good cookbook will get you started in no time, and with a low budget.

Use Amazon to sell your old textbooks. It’s a good idea given how expensive books get with each semester. If you have old unwanted Christmas presents or misplaced purchases, you can find a buyer on EBay or Craigslist. If you prefer the local environment, the campus notice boards and local book stores are a good place to start. I, for instance, cleaned up my closet and after deciding what to donate and what to sell, I managed to save up around $400. It may not seem as much, but it’s enough to keep me going until I receive my financial aid.

Wed, 2012-08-22 16:14

Kassandra1408

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Joined: 2012-07-18

Other tips 2

Now let’s move on to debt managing. Before you accept any offer to receive overdrafts, student credit cards or storecards think twice. You need to be careful about the fees and interest rates. Use online banking. It’s a useful took to keep track of your money. Carefully look over the statements, save the receipts, and use an actual piggy bank to save spare change. You never know when you might need them. I usually compare supermarket prices online to get the best deals and diversify my diet. One week I’ll have Italian food, the next it’s Chinese.

Do your best to avoid unnecessary expenses. And remember to use the ATM to get exactly the amount you need. Or else you’ll be tempted to spend more than you can afford. I don’t think I need to state the obvious, but avoid smoking too. It’s not only bad for your health, but also for your budget.

That’s about all that crosses my mind when it comes to saving up money in college. I share my expenses with my roommate –from the rent and the internet bill to cooking and laundry. It’s a lot cheaper, but it does get me in trouble when I’m not willing to do the laundry or wash the dishes.

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