I wouldn't use the word "big spender" to describe myself. In fact, when it comes to important purchases, I will hesitate and do research almost to a fault. So when my debit card didn't work to buy groceries last week, I was more than surprised. I thought I had been keeping my spending under control, and knowing I hadn't meant waiting until the next paycheck for any new treats. Money is a big talking point in college--student loans, book prices, meal plans, and more. It's not hard to see fairly quickly that it's more than book prices getting students down, though. Too many kids spend too much money eating out, running for ice cream, coffee, or any trip downtown, and I am certainly one of them. I wanted to describe some of my spending pitfalls, and how I try to keep myself out of them.
$1. Fast food restaurants
I'm off the unlimited meal plan this year, but also very busy--sometimes this means a quick trip to the Wendy's drive thru sounds easier and faster than cooking dinner. With so many chains so close by, it's hard not to skip the stove and hop in the car for some grub.
Beyond not being faster, it's also WAY less healthy than most other choices.
Instead, I do my best to buy quick-cooking or even no-cooking dinners. Cooking on Monday and having leftovers for a few days is a serious time and money saver--just make sure you're making a meal you really like! Vegetables, fruit, mac and cheese, rice, and eggs are your friend. Veggies and fruits can sometimes be more expensive- but not in the long run, and your body will thank you anyways!
$2. Clothes Shopping
I've always had this problem, and I've always known I needed to stop. There's a certain craving for a new thing, and I know I'm not alone. Some people want for other types of things, both big and little, and we are all likely of this kind of desire.
Wanting to buy things I have no real need for, especially another pair of pants or sleeveless top, will likely never fully go away. If you're like me, and can't stop yourself from considering what's new and hot right now, instead, start to scrounge around in thrift shops. There's a lot of great things in there, at lower prices, but also, there's a good chance you'll leave empty handed--not every time a man has trash, can another man find it to be treasure!
If, like me, you still find too many gems on the mazes of racks inside a goodwill, instead, try to work out a clothing swap with some friends in the same size range as you. There's new things you can wear and combine with old favorites, and it's totally free!
$3. Treating other people
Maybe I'm just too polite, but I don't like it when other people pay for things for me, and to keep them from getting that chance, I'll often be the one to treat them--sometimes beyond my own current means. My stubborn streak shows through even more, though, because I get a bit too feisty and won't let anyone else pay. Instead, just lightening up and letting someone treat you every now and then isn't the worst. Also, being aware of current spending is important.
$4. Springing for name brands
Going to the grocery store and getting an off-brand of your favorite food can be a breaking point. Knowing that what you buy will be the same thing you've always loved is a great plus. However, knowing how much you pay for the color of the box and the funny commercials might not make it worth it.
By no means am I some kind of expert. And obviously, I'm not spending money all the time. However, that doesn't mean I don't struggle with this stuff all too often. All of these tips are useful, but nothing can beat just plain staying on top of your spending habits. Knowing what's left in your bank account, and how much you'll need to spend on necessities, with a budget, is important, and great financial planning practice for when you're really on your own. For now, doing a few extra things to keep yourself out of that bind is really important.
