Understanding College Costs, and How You Must Avoid It
Chow Yun-fat, one of the big names in Hong Kong Cinema, would donate his entire fortune to charity. It's estimated at one billion dollars, which wouldn't surprise Hong Kong citizens. The actor is known for his frugal lifestyle, commuting around Hong Kong in public transport. Jasmine Tan, his wife, would confess that he's been using the same Nokia phone for seventeen years. He's far from the reality TV celebrities, who aren't shy of flaunting their designer clothes and flashy accessories on social media. Chow should be a role model for college students, many of whom are struggling to make ends meet. It may be easier said than done, though.
Stretching one's limited budget would narrow down the options, which could turn a college life into an uneventful existence. You don't have to take it hard, even try to be patient about the days when you can't stop thinking about the holes in your pant's pockets. Chow might be the poster boy for frugal living in the Far East, but it doesn't mean that there isn't anyone like the actor on the other side of the Pacific. (J. Paul Getty's frugal habits, which included the use of coin box telephones, was ridiculed in "All the Money in the World".) In other words, there have been extreme cases. You can also call it exceptional as well, but it would depend on your current standing. If you happen to be a college student, then sensibility should go a long way. It may not win you lots of friends, but your coursework must be your top priority.
Keep Your Money Where It Belongs - Your Savings Account
You must use one laptop during your time in college. This might be a challenging thing to do, as you can't help but notice the latest units during lecture hours. (And you're having trouble on listening to your professors.) You can ask your folks to buy you one. (And they won't mind at all.) You might have found a store that offers a discount off the regular price, and you have two options. If you want a new one, then make sure that the brand must be renowned for the durability. Handle it with care. It's supposed to help you manage the coursework. Don't think of anything else.
Think twice about old clothing. There's nothing wrong about emulating Steve Bannon, but you don't want to be noticed for the wrong reasons. If a piece of clothing is dirty (or smelly) enough, then bring it to the washing machine. You may want to save your best clothes for special happenings. If you don't have a tux (and you need one), then don't fuss about it. Your parents may help you with this one, if not rent it. The latter won’t take long if you look around.
Plan your dining ahead. You should be admired for not eating (or drinking) out, but you might have to make a compromise on this one every now and then. (You must make those special moments with your room mate, if not your coursemates. And it would prompt you to shell out some money.) If you're living in a dormitory, then someone must do the bulk shopping. Another one can prepare the food. (It would be better if everyone participates in the preparation of food, but it won't be needed at all.) Eating (and drinking) could comprise a large chunk of your allowance, so you could save a lot on this one.
Why Budgeting Is Necessary
You may not like what have you read so far, prompting to wonder about your plans during the term. There’s no doubt that budgeting (or budgies) would spoil the fun, which might take you over the edge. It can make you depressed, but you still have a purpose. You must earn your undergraduate degree. It’s time to be more serious, though.
You would have splurged during Freshers Week, which should have happened at all. But it did. You have one memorable experience, if not a few moments to laugh about later. It should be good enough. If you don’t have a plan, a budget plan in particular, then you might end up calling your parents for (financial) assistance. It can come to a point that you’re too ashamed to ask for more, which should make you consider a money lender. Don’t ever do it.
There are a few good reasons on why you must plan a budget - and stick to it. If you happen to be a recipient of a scholarship, then it’s likely that you must pay for it after you leave college. You don’t want to spend more, as what you set aside could be used to pay for the money that is loaned for tuition fee. Think about your future sooner or later. You must save some money during your first few years (or decade) as a professional. No one likes the anxiety over financial matters (or the lack of money). This should pass. Patience would be rewarded.
If you can’t do all the above, then look for a part-time job.
