It’s time that we had a serious talk Winthrop: a talk that many have had with your parents a time or two. No, I’m not here to preach to you about safe sex, alcohol or drugs. Today’s topic of interest is money and how it is spent.
Some students have jobs, some don’t. Others get money from their parents and still others are always broke. Nothing is wrong with any of those options; however, anyone who has income needs to remember one thing. Situations don’t change by constantly doing the same thing over and over again. For those of you who work, if you happen to be dropping the vast majority of your paycheck every week it might be time to look at what you’re buying.
Saving money is the way to prepare for the future. It’s how you really get ahead in life and a good practice in general. College students are at an age where they have enough independence to do as they please with their time and money, but still maintain a safety net should they slip up– at least most do. A lot of students will abuse that, making sure their money is gone as quickly as it hits the hand and spend it on impulse buys.
Come on, we’re not children anymore and living that way is a quick way to end up in terrible situations. Many people in the United States today are forced to live paycheck to paycheck simply because of low paying jobs and the cost of living today. College students, on the other hand, are here to learn, develop skills and, if possible, start funding the rest of their lives.
Winthrop, don’t fall into this notion that money will burn if you let it sit. Trust a bank with your hard-earned dollars, store at least 50 percent of your paycheck and watch it rise on interest as well. There’s no shame in eating at Thomson instead of Digs, just like there is no shame in enjoying a night in with friends instead of going to a club.
Save now and thrive later, don’t end up leaving college penniless. Don’t be another statistic in the red.