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Food and financial advice for the college-bound

Posted Aug 19 2008, 07:36 PM by Ryan MacClanathan
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Student loans, fast food, credit card debt, the "freshmen 15," all-night binge drinking/study sessions -- plenty of financial and dietary perils await today's incoming college freshmen.

For many young adults the first years of college are a time to make mistakes and, hopefully, learn from those mistakes. Unfortunately, some of those errors in judgment can take years to fix. Plenty of adults in their 30s and 40s are struggling to beat down debt accrued in their wilder days. And, of course, there's the old adage: A moment on the lips, a lifetime on the hips. 

Fortunately, Kris at Cheap Healthy Good has sound, nonjudgmental advice for young student on how to eat healthy and live frugally, both of which go hand in hand.

Kris recounts how her parents promised to pay her tuition for two years if she maintained a 3.0 grade-point average.

"No problem," she thought. That is until she ended the semester with a 2.99 GPA. Her parents stuck to their word and handed her the bill.

Kris learned three things from the experience:

  1. There are no second chances with real-world money.
  2. There are no second chances with real-world expectations.
  3. My parents don't mess around, ever.

"Thanks to that inglorious 2.99, I pay bills on time. I don't miss deadlines. I try to exceed what people ask of me," Kris writes.

Kudos to Kris, and kudos to her parents for teaching her such a valuable (and expensive) lesson.

For more on how to deal with college debt while living on little income, click here. Want to cut your college costs? Click here to read how you can slash your bill by 25%. Click here for no-holds-barred advice on how to maintain your first budget.

Got a money story to tell from your college days? Do you have any advice for this fall's college freshmen? Please share your thoughts.

 

Comments

 

The main advice I might give is to have fun and enjoy the new experience and freedom, but don't forget to carefully think things through.  If you want to save money on college expenses and stay healthy through endless all-you-can-eat cafeteria meals, often times you must stray from the heard and do things differently.  

for example, want to save money buying textbooks, buy them online and follow tips here:

spillingbuckets.blogspot.com/.../how-to-save-bunch-of-money-buying.html

It sounds like common sense, but you would be surprised how easy it is to get carried away and follow the crowd.  

Meal plans must be an astounding drain on money...once I forgot my ID and was shocked to be charged six-seven dollars before I could even get in and see if there was anything worth eating.  

I will be happily cooking my own meals this time.  They will be less wasteful, tastier, and probably more healthful too.

The caf food at my dorm was definitely not the heathiest or most economical choice. Because they had to feed so many people, whatever they could make in bulk was the menu - which meant a ton of carbs. I was sick of pasta, potatoes, pizza and cheesy casseroles by the time I finished school. To their credit, they did have vegetables (usually broccoli or the standard "veggie medley") and a salad bar, but they were never fresh. Just like Nicole, I was shocked how much they charged for these meals. I had a friend from another school visit and eat with me in the caf, and they charged her $7.50. For that price, we could have gone out to a restaurant for some better quality food.

The best advice I can give is do not use CC's to pay for things you want in college.  If you live on campus and have a meal plan use it.  Just be smart about what you buy, if you really don't need it don't buy it.  If I would have not gotten into CC debt in college I'd have all kinds of expendable income now, and I've only been out of school 2 years now.

I would tell college students that this is the only time in their life where they can be truly free to experience things that they never thought they would- staying up all night, rooming with their best friend,making choices on their own (going to class or not, going out or staying in to study, etc.) but that part of being "on your own" means taking the consequences for those actions, and not blaming anyone else for the things that go wrong- the teacher didn't give you a bad grade, you earned it. When I was in school, two or three of us would have "Family Dinner Nights" where we'd all bring one dish and cook together. It cut down on costs and gave us the feeling of having a family-type meal when we were so far away from our families.

Above all, enjoy this time!

My daughter earned income in the summer from the typical teen jobs (fast food). Then I went over a budget telling her she had $45 to spend a week on necessities and the occaisonal night out. I told her "You have a meal plan paid for, use it!" No sense spending money to eat out when the meals are paid for. I also told her, we aren't the Rockefellers, this is all the money we have. She did well her freshman year. Her school must be unusual because she was able to find salads,fruits and veggies as well as lean protein like eggs, fish and chicken.

College life is a once in a lifetime experience which many of us wish they could live again. Most campuses have a meal plan to use. Dont worry about the money part for these 4 years and enjoy it. After that you will need to care about money all your life.

Buy books online or not at all. DO NOT give your money to the University for overpriced books.  And yes, the books are way overpriced.  New editions every year is another way to screw over students.  BUY ONLINE!

Guys, meet as many girls as you can while in college and for gosh sakes, drop your highschool girlfriend before starting college.  It will make things much more fun...I wish I'd done it that way....

coupons for domino's pizza, dime beer at happy hour, hot pot mac-n cheese... ah, the memories!!

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