For College student, College is expensive in and of itself, but students often have additional costs beyond tuition, books, housing, and food. College students (especially those still relatively young) must be extremely frugal due to the growing student loan debt epidemic. Many young people worry about employment and income disparity since it is difficult to navigate during college. Tuition, books, essay writing services, and transportation are just some of the things that students will have to pay for.

There are three ways that students can easily waste their cash.

While money has traditionally been seen as a measure of value in the marketplace, it would be a mistake to discount how social and cultural norms impact college students’ relationship to and use of money. Viviana Zelizer discusses this idea in her book The Social Meaning of Money. To illustrate how money is “earmarked” for purposes influenced by social relationships and systems of meaning, the author provides numerous instances to show why a transactional view devoid of cultural limitations is narrow and incomplete.

It’s easy for people to fall into the trap of setting aside funds for things they don’t need. Creating or breaking social ties, exerting strong control over others, establishing or maintaining inequality, maintaining subtle status distinctions, coping with risk and uncertainty, managing a group identity, celebrating rites of passage, resolving conflicts of interest, and keeping social relationships secret are all examples of activities that waste resources (Zelizer 26). This blog will examine three of these instances concerning the everyday interactions that college students have with currency, spending, and the escalating expense of higher education.

Group identity transactions

Numerous transactions have involved college students utilizing funds set aside to forge a common identity. As a student, you will see people “buy in” to a group by joining a sorority or fraternity, and this is something that Zelizer takes into account when discussing the donating of money to promote solidarity within specific organizations (such as an organization with a particular ethnic background).

Investing Money to Win People Over

Starting at a new school can be especially difficult for young college students to make friends and fit in socially. Many students live away from home for the first time in college, and those who do may feel apprehensive about making new friends. Students returning to school later may have more life experience, but first-year college students with less maturity may make costly mistakes.

Young college students often find it helpful to have a job when transitioning from high school to college. Most college students have jobs and are also enrolled in classes, but juggling these commitments while learning and growing can be challenging. 

Saving up for presents

Gift earmarking is a time-honored tradition that has evolved to express cultural values and strengthen social bonds via exchanging material goods. This is a topic that Zelizer delves into extensively: “Think about how we characterize a ‘good’ Birthday gift. Affection, thoughtfulness, and the closeness of a special social bond must be expressed. “Gifts can have many different meanings” (78). Later She elaborates on why it’s important to put thought into presents by saying, “The personalization of gifts matters greatly: gifts must be appropriate in character and value to the relation of the parties, revealing the degree of intimacy and equality between giver and recipient” (78).

For example, the negotiation of gift exchange over the holidays is a statement of our understanding of closeness because there is room for interpretation in the gift (as it is usually a surprise).

Budgeting for your college years

Spending money wisely in college should be directed toward necessities for furthering one’s education. One terrible example of college spending is the admissions scam in March 2019. It’s unlikely that the average student’s parents will be accused of bribes involving millions of dollars, but they should still be wary of less significant instances of reckless spending.

A student can escape becoming embroiled in an admissions controversy but can’t avoid shopping altogether. You can still have fun and meet interesting people even if you’re a broke college student. Remember that getting that degree is the most important thing right now, and adjust your priorities (especially regarding money) accordingly.

Benefit from special student pricing

Make it a point to work toward your enjoyment. Did you spend 12 hours a week in the study? Take yourself out to lunch or a movie. Just because you’re a student doesn’t mean you have to scrimp on your spending habits. Many costs are associated with being a student, but there are also methods to save money.

Discounts can be found at many stores both on and off campus. Students can receive discounts on various goods and services using their school ID and email address, including electronics, travel, movies, events, apparel, and more. When they are ready to make a purchase, they should be sure to ask about any discounts or do some research online.

Participate in a club or group outside of the Greek system.

The exorbitant price of joining a fraternity or sorority has already been discussed. Greek groups may have the most members and the largest annual budgets, but they aren’t the only ones on campus. Alternatives to Greek life that won’t break the bank include the student government, the American Marketing Association, and the Financial Management Association.

Gaining practical experience in a topic of interest, such as economics or psychology, might be facilitated by joining a student group outside the Greek system. Student organizations are excellent additions to a resume and fantastic opportunities to connect in the working world.

Save up for college.

Make wise financial decisions as a student by putting money toward things that will help you learn more. Hiring a tutor is an investment in your future that can help you if you are struggling academically. If you need extra assistance, don’t hesitate to check out our essay writing service.