Broke College Kid

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was sitting at a poker game with a buddy on mine, who has a really good job, and said “I make $700 a week, and I’m still broke all the time.” I hear similar stories from college kids all the time. Most spend way to much money. Here are the top 5 things you’re probably spending a bit too much on.

5. Books
Of course you need books for your classes (most of the time), but way to many students just make a trip to the bookstore once a semester. Try shopping online, or talk to friends and other students to find the best deal.

Average Savings per year: $100-$300

4.Entertainment
Having fun does not need to be expensive. there are several things you can do to trim your spending here:
1. buy DVDs and video games from Ebay, or from a used dealer, like GameStop.
2. Go to matinees instead of regular movies
3. look into campus events. Most campuses offer a lot of interesting events, and they are usually free or very cheap.

Average Savings per year: $200-$300

3. Stuff you just don’t need
I know a suprising amount of people, who despite “Always being broke” own HDTVs, tons of DVDs and video games, or outfits that cost entirely too much. I’ve never understood people who have HDTVs when most won’t shell out for the HD cable, but whatever. There are a ton of ways you could cut your spending here.

Average Savings per Year: $200-$500

2. Food
I don’t know you, but you probably eat out way to much. A meal at home can easily be prepared for $0.50 - $2.00, which is way cheaper even than McDonalds. If you eat out 3 times a week, that’s probably at least $10 right there, and a lot of people eat out even more than that.

Average Savings per Year: $500-$1,000

1.Booze(and other intoxicating substances)
Drinking and partying is a standard part of the college expierience, and by no means am I encouraging people to not do it. But a lot of people go barhopping, and run up bartabs anywhere between $20-$50, and that’s not including taxi fares and late night food run.

Compare this to drinking at home. a 12-pack of decent beer runs you $10, and that’s usually good for 2 people. Personally, I’ve always had a lot more fun with a few friends at home that going out, and I’m sure your drunken asses can find plenty of fun stuff to do. If you must go out, try pregaming, keep your eye out for drink specials, or maybe just cut back by one or two drinks a night.

As far as other intoxicating substances, there really isn’t much you can do to cut costs here. I hate to sound like an after school special, but my best advice would be doing it less, or not at all.

So, assuming you go out once to twice a week:

Average Savings per year: $1,000 - $3,000

Final Thoughts:

Total Average Savings Per Year: $2,000 - $5,000

A lot of these are simple decisions that you make every day. A few bucks here and a few bukcs there never seem like much, which is why including these figures to show that you could be easily blowing thousands of dollars when you simply don’t have to. Next time you are about to call in for that pizza, or order that next fancy mixed drink at the bar, just think what $5,000 could get you.