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Early spending creates end of semester money crunch |
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Thursday, 29 November 2007 |
 Justin C. Reid, a junior media broadcasting major, shops in The Market for Top Ramen - one way students can eat and save money. Photo by Shanel Boston
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by JACQUELINE SCOTT
Intern Lifestyles Reporter
Laptop? Check.
Alarm clock? Check.
Shower caddy? Check.
These all may seem like college essentials; however, students tend to forget to receive budgeting advice to pay for necessary items.
With endless papers, demanding group projects cementing your grade and
exams, a college student’s life can sometimes be stressful.
Financial woes don’t have to be an addition to the list if students employ budgeting strategies.
According to the National Retail Federation, this past fall, United
States students and parents shelled out an average of $956.93 on
back-to-college expenses, with a total of $47.3 billion spent.
Margaret S. Brown, a cashier at Cascades Café, notices poor spending habits at the beginning of a semester.
“When students first start out with their meal plans, there’s a lot of
compulsive buying,” she said. “But into the semester they learn how to
better manage spending skills.”
Zac H. Fleisher, a freshman criminal justice major, recently realized
his meal plan was depleting due to numerous visits to the University
Bookstore market.
He said he spends, on average, about $5-$6 per meal, and about $30 per
day at Cascades, Welborn Cafeteria, and various vending machines.
During the first week of November, Fleisher’s meal plan reached an ultimate low of 11 cents and turned to his parents for help.
“My parents added $100-$150 onto my meal plan but that was gone within
a week,” he said. “Then I started using my express account.”
Fleisher hopes to pace himself with $173 on his express account until the end of the semester.
With the swipe of an AppCard and the press of a button, vending machines provide quick nourishment.
However, while quick and convenient, vending machines can gobble up meal plans.
Freshman graphic arts and imaging technology major Anna M. Goodrich spends about $7 a day in vending machines alone.
It is important to know the status of your balance. Meal plan balances
are listed on AppalNET or printed on the cashier’s screen.
For other students, more concern is placed upon tending to a debit card or credit card balance.
Jonathan S. Dantzler, a freshman English major, worked at Food Lion
over the summer and realized he would need a bank account for college
expenses.
His job offered him a free debit card that he accepted and deposits
money into; however, his mother can access the account in case
emergency funding is needed.
He mentally keeps up with his balance and, “if I’m near an ATM and it’s
been a while, I’ll swipe my card and give it a look-see,” Dantzler said.
Getting a part-time job builds funds and provides responsibility for
students by allowing them to decide the fate of their bucks.
“Budgeting is difficult due to unforeseen circumstances that arise,” freshman geography major Steve D. White said.
White works part time in Plemmons Student Union.
“Despite random expenses, budgeting is just like anything else, you
have to find what works for you,” he said. “Working on campus helps a
lot when you need extra cash. I would recommend an on-campus job to
anyone.”
White directly deposits his paychecks into his bank account and sets limits for himself.
“I have a limit as to how far I let go [before] going into a ‘don’t-spend-money-anymore’ mode,” he said.
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