Author Topic: 9 habits you develop in college that will haunt your wallet  (Read 4513 times)

sheepstache

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9 habits you develop in college that will haunt your wallet
« on: September 03, 2014, 11:39:59 AM »
I think it's a good point that not many people make that aside from the student loan hit that the college lifestyle itself seems to be engineered to lead to a high cost of living.

http://www.forbes.com/sites/maggiemcgrath/2014/09/02/the-9-habits-you-develop-in-college-that-will-haunt-your-wallet/

I might add the casual use of coffee shops and other places you have to pay to be as a work and meeting place (when there are libraries and other free public places), but maybe that's more common with city colleges.

If you keep scrolling down it turns into an article about The 10 Habits You Develop In College That Will Save You Money In The Real World which features a reference to MMM!

MrsPete

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Re: 9 habits you develop in college that will haunt your wallet
« Reply #1 on: September 06, 2014, 04:33:58 PM »
Don't despair over the entire college population! 

My college daughter was very excited about going grocery shopping last night:  A store near her college advertised a 20% off night for students with a college ID.  She planned carefully, arrived with her coupons, and purchased over $50 in groceries for $20.  She was thrilled -- but it wasn't just her.  She says the place was PACKED and the lines were LONG.  Clearly quite a few other students took note of a good deal.


arebelspy

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Re: 9 habits you develop in college that will haunt your wallet
« Reply #2 on: September 08, 2014, 02:42:47 PM »
I think many college students no longer "live like college students" (or how you picture what that phrase means).

They use student loans or money from parents to have a pretty lavish lifestyle.

Then, due to hedonic adaptation, keep that up or even increase it upon graduation.

The college students who do live like cheap college students can form some pretty good habits if they don't immediately succumb to lifestyle inflation.
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sheepstache

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Re: 9 habits you develop in college that will haunt your wallet
« Reply #3 on: September 08, 2014, 03:18:55 PM »
Don't despair over the entire college population! 

That does give me hope, MrsPete, thank you!

The funny thing is, as the second article points out, plenty of people get used to scrimping in college.  I think for some people that creates a weird combo where they're continually aware of scrimping and yet they eat out at the dining hall everyday, live in a central location, etc. (A lot of which is mandatory, at least for first years.)  Which creates a weird impression of what living cheaply means.  Someone I know mourns that he no longer belongs to a fancy gym with a pool ...because he had access to one in college.  So college has set him up to feel like something in his life is lacking because even though he's earning money now his lifestyle is less fancy pants than it was in college.

I know I'm personally happy that I have dinner protein options beyond tuna and eggs now that I'm out of school.  While I enjoyed the student lifestyle, just taking classes and so forth, my life is materially better now.  But for many people it's not.  At least we're still stuffing two (and three and four) college students into a room, so there's still some reward for joining the workforce.


Beric01

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Re: 9 habits you develop in college that will haunt your wallet
« Reply #4 on: September 08, 2014, 03:19:35 PM »
I think many college students no longer "live like college students" (or how you picture what that phrase means).

They use student loans or money from parents to have a pretty lavish lifestyle.

Then, due to hedonic adaptation, keep that up or even increase it upon graduation.

The college students who do live like cheap college students can form some pretty good habits if they don't immediately succumb to lifestyle inflation.

Yeah, this was me. I actually "lived like a college student" in college, and then intentionally avoided lifestyle inflation when getting out. Mustachianism was the natural next step for me.

Frugal_Red

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Re: 9 habits you develop in college that will haunt your wallet
« Reply #5 on: September 27, 2014, 06:26:40 PM »
When I was in College I saw idiocy in student spending (ie. hundreds of dollars for a party) and amazing frugality (ie. dumpster diving for school supplies).  Most of my art course projects were built out of reclaimed materials and free junk!

When my brother was in College his dorm room was oft compared to a monk's cell, sparsely furnished with the bare basics gathered for free from his loving siblings.  He now earns 6 figures a year but those habits in lifestyle have carried over.

Likewise, I had friends in College that were alway broke and I now see them on Facebook always complaining about not having enough money yet they have the brand new shiny iPhone in their hands days after each one is released! :-O

2ndTimer

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Re: 9 habits you develop in college that will haunt your wallet
« Reply #6 on: September 28, 2014, 08:50:44 AM »
No question, college taught me to love working in coffee shops.  Having grown up in a rural environment I was unfamiliar with the concept of "going out for coffee" except at some else's kitchen table.  I took to it right away, despite coming to it late.  It is only recently that it has come to me that if I want a walk followed by a read the local library is as close as MacDonald's

 

Wow, a phone plan for fifteen bucks!