Monday, May 23, 2016

Nine Habits from College that will Suck the Life out of your Wallet

You made it! You're in college, living on your own in the dorms or sharing a space with your best friends. Things couldn't be better until reality hits.

In The 9 Habits You Develop In College That Will Haunt Your Wallet, Maggie McGrath at Forbes talks about some real money drains, in other words how to just flush money directly down the toilet, especially if you rely on credit cards.

First off, the article doesn't mention a couple things: 1) set a budget and stick to it, and 2) use CASH whenever possible. Relying on plastic just makes it too easy to do the following nine BAD habits:

1. Eating in the dining hall for every meal. Well, this should read "Eating in the dining hall for every meal AFTER your meal plan has run out." Granted there isn't a gigantic kitchen in the dorms, but, heck, Top Ramen was invented for college students, wasn't it? If you have a freezer, get stuff you can nuke.

2. Late-night bingeing. Studying at 2:00 a.m.? Need some brain food? Avoid those late night binges for pizza, or whatever. Again, keep some food in your place. Think of having a case of, yes, you guessed it, Top Ramen.

3. Stretching deadlines. Even though your professor may extend your deadlines, the credit card company won't and those late fees add up fast.

4. Procrastinating - and then cramming. We're not talking about papers and exams here. If you know you are going to fly home after finals week, buy the ticket at the beginning of the semester...it is sooooo much cheaper; up to two and three times as cheap.

5. Over-sharing. Who needs to know what you ate for breakfast? Quit sharing all your info on social media. In fact, 1 out of 5 identity theft complaints comes from college students. Identity theft can keep you from a job, a home, a car, or any kind of credit.

6. Relying on a magical money tree. Their name is usually mom and dad. Often college students are not responsible or even a part of their own finances. Now, that's a scary thought. Let me ask you this: have you ever done your own tax return? The real world is coming and you should be thinking about helping out your mom and dad pretty soon.

7. Making one-time exceptions. Oh, the thrill of the European spring break, the concert to end all concerts, the year-end party. Just say no, you can't afford it. Who wants to pay for that concert for the next five years?

8. Mixing up the pennies and the pounds. Since college students don't have a lot of money they tend to be frugal on the 50 inch flat screen tv (just say no, your roommates will destroy it anyway) and overspend on the small things. Seriously, do you really need a $4.00 cup of coffee from Starbucks every day? Get an electric kettle.

9. Not looking at the big picture and/or factoring in little costs. Living in a dorm? You don't know how lucky you are. No cable, PG&E, water, garbage - or it was all factored in to your dorm cost, but once you leave school you have to pay for all those incidentals and they add up. Your rent is only a small portion of the monthly bills adults have to pay.

What are you guilty of? What suggestions could you give college students to avoid acquiring these nasty financial habits?

68 comments:

  1. #8 is something that I do very often because I always overspend on the small things such as Starbucks and Jamba juice. It's true that we all shouldn't spend too much on the small things. #7 The trill of going to raves and concerts for the first time is actually very expensive and I honestly don't have all the money to just spend on these things but They sound so fun and excited which makes me wanna empty my wallet for it. #2 is something I have been struggling this whole year. Once it hits 12 am, I constantly crave food and I want to get in my car and get something quick to eat. It's very sad that I can relate to many of these but after reading this article ,I will double check myself before I open my wallet.

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  2. I am going to say that many of these things are true in which I am guilty for when it comes to spending my money on late night bingeing, and that maybe keeping a record on what I spent will really wake me up on how much I am spending on food and other things. At the end of the day, I realize that I should not go out to eat so much to the point where I am flat out broke, and to get food in which I paid for already when living in the dorms and to eat at the dining commons. The suggestions that I would give myself and other college students, is that no matter how tempting it is to go out to eat, remember that you are hurting your wallet every time you go out to eat, and that you already spent so much at the dining commons for the meal plan, so get your money's worth in the dining commons!

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  3. As a college student I am guilty of most of these. I have found some tips and tricks. 1. Go to the dinning commons the first couple of weeks to scope it out. Then only go on the days when they have good food. And when I say good food I mean anything that will not make you sick to your stomach. 2. Always have back up snacks or food. I go for cereal or microwave mac n cheese. And always fruit. Find a farmers market and get the cheap stuff. 3.Only use credit cards for emergencies. And no, McDonald's is not an emergency. 4. Always buy tickets as early as you can. No one ever wants to but that $300 ticket back home when really it could only be $80. 5.You are in college, most likely what you are eating isn't even that great. 6. Do not go to the bank of mom and dad and expect money. Get a job or start saving before you get to college. 7. You don't need to go on a spring break trip, as much fun as it sounds, you will probably pay out the ass for it, and who has that kind of money anyway? 8.most of the time you will probably be watching Netflix on your tiny lap top screen so what is the point of buying a huge T.V.? 9. Living in a dorm is expensive. But it is probably less expensive than paying for all the electricity and water and t.v. But just to be sure calculate it all out. You don't want to be spending more than you have to, especially in college.

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  4. I am guilty of over spending. I have two jobs and I work HARD for the money I make so if I want to go out to dinner or go buy clothes at the mall, or go get tattoos and piercings, I will. That is my main problem. When I need to save money in order to do something or buy something for school, I actually really do it. It should not be hard, you just have to get your priorities straight. For me, I would make sure I paid my phone bill, make sure I bought personals such as lotion, body wash, toothpaste, etc., then when I would have money left over, I would spend just a little. It honestly is not that hard unless you are a shopping addict. However, there were a couple times when I did not buy the cute skirt or go get sushi or get my tongue pierced because I was budgeting. It is a little hard and sad to pass up things you really want. In the end, you just need to remember that it will all be better in the long run, meaning, you wont be MC Hammer broke until you get paid again. I am finishing my Freshman year in college and one thing I noticed is that high school did not teach me how to budget my money. It is something you can learn the easy way or the hard way. Bottom line is that you will learn to stack your money eventually, do not panic.

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  5. I'm not really a big spender when it comes to using my debt card, i don't like using it that often. I don't own a credit card for many reasons although i know i should get one to start building credit, i don't want one because i will probably spend a lot of money and max out and then have to owe all that money back which i prefer not to do. I am currently a college student and i know its hard to save money, the advice i would give to others is to do what i do. First get a job (i have one), don't be dependent of your parents, have your own income. Second have a checking account with a bank so you can deposit some money in there. Third put half of what you make into your checking account and have the other half on you as cash. Then put priority first when it comes to spending your cash, you need food, you don't need a new phone case. Then and only then once you have taken care of your priorities spend some money on yourself but always ask yourself first before you buy it, do you really need it and will you still be using it in a months time. That would be my advice for college students.

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  6. #7 is something that i always do, i love to travel the world and spend time with my family. With that being said my family loves to travel also and finding a way to make ends meet and paying for everything is not cheep especially with college involved since the fees or only getting worse, i just feel that if i don't travel now i will never be able to do so and i will be missing out on all the wonderful memories that my family will be making without me, it is definitely just one tough place to be in when you don't have a solid source of income and going to school excuse you have responsibilities to take care of but you also want to have fun. I wish someone would have made a book on how to balance it all out for us all.

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  7. A few things that I am guilty of is #4(procrastinating) and #8 (mixing up the pennies and pounds). I am a terrific procrastinator, although it is a bad thing. I am a very lazy person in general so I always put things off till last minute. I am also a big spender. If I have money and I want something, then I am going to get it, even if it makes me broke after. Suggestions I would give is to not put things off till the last minute, and to have a good money management plan.

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  8. #8 is something that I am guilty of. I have a very hard time spending money on big expensive things because I hate spending a large sum of money at one time. However, I always find myself buying little items here and there. I fall victim to buying starbucks before class because it is right on campus. Since I am a student athlete there are times where I am at school all day and I would either run out of food that I brought or just totally forget in general. So I fin myself buying snacks or drinks at our POD market. At the moment it doesn't seem like much, but after a while it all adds up.
    The best advice I can give people to stay away from these bad habits is to, if you are living off campus to overpack your amount of snacks; that way you will always have enough to eat and if you don't eat it you can save it for tomorrow. Some advice for people living on campus, I lived in the dorms for my first two years at college and I found our to-go boxes very helpful. When I was on a budget crisis, I would basically grocery shop at our dining commons. If I was low on milk or bread, or if I wanted some fruit for later, I would use my to-go card to stalk up and get the things I needed.

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  10. hile the common theme of these money saving tips are to be cost effective, I don't think top ramen is the answer to every problem. Some of these tips are valuable such as making sure your credit card bill gets paid on time because late fees will bring your wallet to waste. But as a college student who has tried to just live on ramen I would like to say that you will waste away and your grades will suffer. I'm not saying you should treat yourself to a expensive meal every night, but at least once a week you should enjoy a healthful meal.

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  11. #8 and #9 hit me hard after i get my fasfa refund check. I end up buying new clothes and spending my money on food expensive or cheap because when you have a lot of money everything is affordable. That is my biggest struggle as a college student and my advise for future students would be to spend wisely. Nothing sucks more than have little to no money when you decide to actually do something worthwhile. IT SUCKS TRUST ME!! Though it may be tough, saving is the key.

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  12. Paola Davalos
    English 1002
    Extra credit 1
    I may pretend like I am financially stable and know how to manage my money but in reality i am "broke" most of the time. If its pay day its shopping day. I will buy shirts and hats for myself and also spoil my boyfriend. But where the big bucks go, im talking about 100-150$, is food. Groceries, snacks,fruits, vegetables but unfortunately no Top Ramen. It may seem fine to spend that money on groceries for the next two weeks, but it really only lasts me 3 days. I am also realllllly guilty of late night junk. Burger King, La Vic's, Buffalo Wild Wings almost every night until my money runs out.
    Another struggle for me is events. You are right, I don't want to spend the rest of my life paying off concert tickets, but its so hard when my favorite bands always come to the bay area!
    Although i may seem like a big spender, i make sure to always pay my bills before i go crazy. My advice to students, is yes sure, spending is fun and a starbucks or concert here and there wont kill you, but dont spend the money you dont have!!! Use your credit card for emergencies, and no that pink purse is not an emergency. As stated above, cash is what keeps you grounded and in reality. And if you don't have a job, forget about living the luxurious life in college. I mean you'll have enough time of that after you get your degree and land a great job. Goodluck to my fellow spenders!

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  13. As an incoming college student I am guilty of a few of these. First, I am guilty of overspending on little things. I don’t live on campus but I do eat out a lot and having a debit card doesn’t help. When I am not paying with cash rarely do I look at the price and let me tell you, little things add up FAST. I have tried to not eat out at all but let’s be realistic, that didn’t last long. So what I have found that works for me is budgeting and using cash. Every week I take 20 dollars out of the bank and that’s all I have for the week for small expenses or food. Another thing I always do is make one-time exceptions on things I know I truly don’t need. I usually don’t realize that I didn’t need to spend my money until after. I am not quite sure how to break that habit. I don't think it is a huge issue if it is extra money I had set aside. Number six is another big one I am guilty of. I have always relied on my parents for expenses, but this year I am trying to be a little bit more financially independent. During the summer I got a well paying job and I saved sixty percent of every paycheck and gave 25 percent to my parents for my car insurance and payment. I am now using what I saved to pay for gas, books, school supplies, and other expenses I have during the school year. So yes I'm still learning to break these habits but so far budgeting and saving have really helped me and hope they can help you all as well!

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  14. As a freshman working almost 20 hours a week on the campus Starbucks, I tend to spend a lot of money on pointless online shopping. CLOTHES SHOPPING ONLINE SHOULD BE ON THE LIST! I cannot even total the amount of money drained into the online shopping I have done so far this year. Just this week I spent about $100 on makeup online. That's about how much I spent to rent one of my textbooks for this year. There is probably no way for any college student to spend money wisely. Our parents are not around to stop us is if we see something at the store while buying toilet paper for our dorms. Not to mention all those online sales! There are many ways for any college student to blow money easily.If only we could have a personal little Jiminy Cricket to remind us "Hey , what about that textbook?"

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  15. I am mostly guilty in spending money on something unnecessary, whenever it is a small thing, if I want it, I measure up the cost before buying it. I do not consider that this "something" is not a need but a want. Most students would agree that its hard to save money while living somewhere else considering that your parents aren't nagging you to save money. One way that could possible save money is to consider your budget, that way you would know that amount you are spending is subtracted from that. Another way could be eating meals at the dorm, although the food may not be good or appetizing some days, it important to know that you spent a good portioned amount for paid food and rent at the dorms. If you have a paycheck, take a portion out to save, while spending a small treat as a reward for your hard efforts. My advice would be to spend on something you actually need and not want.

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  16. After reading this article I agree with majority of the nine habits. As a college student I find myself spending money I don't have. By the end of the month I'm wondering were it all went. I have a bad habit of spending money on food. Taking cash out and making a budget is probably one of the smartest thing I could do. Having my debit card allows me to be unaware on how much money I spend.

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  17. One of the main problems I have while in college is spending unnecessary money. Having a debit card and receiving refund checks really feed into my bad habit. I mostly spend money on food and online shopping. I began to realize that everything that I have been spending money one really isn't worth it especially when I need to be textbooks or actual things for school. I can spend a few hundred in a week and not realize until after I look at all my receipts. To better your financial habits you can set a budget. Only spend money on food at least once every few weeks. The rest of the time you should eat in the dining commons or make food in your dorm. When it comes to online shopping you don't need to buy things every time there is a sale. Instead buy the things that you need first. If you have money left over you can buy the things you really want. Treating yourself to good things is important just make sure you do it in moderation.

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  18. As a college student I am guilty of a couple of these points such as #6 and #7. I am used to always having the support of my parents and know I can rely on them when I can, so sometimes I can tend to rely on them too much. I do help them out but I need to make sure to be aware of my own responsibilities and try to handle more things on my own. For number 7, I can occasionally have weak moments and spend on things that I shouldn't telling myself that it will only be for this time. Some suggestions I can is to make a plan and write things out. Write the things you need to buy and budget you money and try to resist the temptations of buying things you do not need like eating out constantly and buying unnecessary things or going out.

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  19. Danaya Webster
    College writing 2
    October 17, 2016

    This was a very interesting article to read and it would've been nice to have read this article before I moved to school. I find myself guilty of a few of these things on this list but I think it's important to figure it out on your own and grow from any financial mistakes you may make. As a young adult in college, I should be able to go to "the concert to end all concerts". We are young that that's apart of being young, being able to go out and do the things you desire to do and buy the things you want to buy. Life with a career and possibly a family is around the corner and the time to do these things can run out fast. However, this is really only possible if you are good at managing your money and time management. But, it is possible to do all these things and not go completely broke and be able to pay your bills on time.

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  20. As a college student I'm guilty of #2, #6, and #8. I tend to get late night cravings so I go out to the little gas station across the street and buy some chips and ginger ale, which I know i shouldn't get $2.37 adds up after awhile and I know its not good for me. My parents, specifically my dad, are always available so i tend to rely on them when I would rather save money for something else. Whenever i have car trouble I go to my dad because I know he'll fix it or pay someone to fix it, even though I know it's time for me to help him. I am especially guilty of #8 I buy a lot of stuff that I don't need or I definitely buy starbucks a few times a week. I haven't bought any top ramen yet, but I know I should to save money instead of going somewhere else to buy food. I would suggest college students to make a list of their bills and what they actually need for the month so they know how much money they will have. This way they build limitations and know to spend wisely, plus it would help to set some money aside to put into their savings that way they have a little bit of money saved up in case they need it.

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  21. As a college students I can relate to most of these bad habits its part of adjusting to the real world. As incoming college freshman some of us are more independent them others. For example I had my on bank account since high school managed very well.Therefore It was easy transition for me now paying all my own and budgeting my monthly expenses but I also believe you need treat myself for all my hard work right? However Im no angel Im guilty of # 8 mixing up the pennies and the pound.I literally on campus all day back to back classes. I constantly caught myself buying snack and food on campus. Even though I have food at home these little purchase add up. Therefore my advise to other college students is to meal prep so those groceries won't go to
    waste.

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  22. I personally am guilty of spending money whether it is a necessity or not. I am a materialistic person only because I do work hard for my money and I have desire of wanting certain things. I know it is bad in the long run because I spend around the equivalent of what I earn sometimes more. The good things is that I am not in debt no matter how much I spend because I don’t have a credit card for that reason although I should for credit, but I don’t because spending more on top of being in debt not Good! Saving is something in my vocabulary but when I really need to save money for priorities I do indeed because I don't ask anyone to help me out, I am an adult and I have to plan and make the right decisions. In reality being in college as a student you are going to spend so much but key is to manage, save, and be wise about your money. One may never know what could have from one day to another.

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  23. As a college student, I am guilty of doing some of these things. Whenever I get money, I usually spend it on food. I can see why that would be at the top of the list because as a college student living in a dorm, we no longer have mom or dad cooking up meals. We no longer have the luxury of having food accessible to us whenever we want so we tend to spend whatever money we have on food because of this. I am also reliant on my parents for money, but I am frugal when it comes to spending it. The only thing I would spend money on is food but even when I do want to buy food, I always contemplate if it is worth the money before I actually buy it. Yes my parents give me money, but it is not like I ask for money from them all the time. I only receive money from my parents whenever they feel like giving me it and I am very okay with that. And because of this, I find that saving it up until it all adds up is worth it, because you might need it on a rainy day.

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  24. I am guilty of binge eating at 11 o'clock at night and over spending on small things like stopping by Jamba Juice all the time instead of going to my dorm and drinking water which is a) healthier for me and b) free! However something I don't do is constantly ask my parents for money. It's bad enough they had to take out a HUGE loan to get me through college and still have to pay for the insurance on my car and gas money, so I never ask for money. My advice to college students who spend money faster than they can make it is to think before you spend. Is it something you really need? or is it just a want? Do you actually have the money to get what you want? I personally have always been good with managing money it was just something that came naturally to me, my brother on the other hand you give him $5 and he wants you to take him to the store right then and there so he can buy something. I expect he's not the only person like this so try to gain a little self control. It might be tough in the beginning but if you keep saving that little money you do get then in the end you'll end up with more money to spend. Or save. Only spend on what you need and little treats to yourself only when you can afford it. And by little treats I mean a trip to the movies or dinner out with friends not a weekend get away to Vegas.

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  25. As a student in college, I am especially guilty of oversharing my meals and spending too much on little things. I snapchat and instagram most of my meals. I also rely on the magical money tree- my boyfiend. My boyfriend takes me out to eat and pays for everything so at least I'm saving money in that sense, but I do end up posting it all on social media. However, once I'm on campus I always go to jamba juice and spend about $6 a day just on smoothies. At least its healthy. What I would advise college students is to think about what you're paying for and if its necessary. Like would you rather pay $4 a day on starbucks everyday or would you rather save all that money up and invest it into a better phone, laptop,or car? I would also advise to stop asking your parents for money and get a job. You're in college trying to get one anyways right? Might as well get some practice and mess up now when it's not such a big deal.

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  26. As a college student, I can say i relate to most of what is on that list. On pay days, I usually have already made plans with my friends or end up making plans with them. Whether it was going out to eat or even going to hang out at the beach, I was spending money. Then, I didn't care as much because I was only paying my phone bill. But now that I am a college student, I keep watch on my money at all times. But that does not stop me from spending money on things I don't necessarily need or things I want. Now that I am an adult, I pay for more than just my phone bills. So before anything, I save that money for my bills for the time it needs to be paid. If I have a good amount of money left over, I'll usually save it for gas because I do commute to school everyday. But most of the time, I end up spending my money on concerts, games, food, and of course, gas. But before I do any of that, I make sure everything is paid off and that I have money saved for any future accidents or issues. A note to upcoming college students, prioritize your money. That is so important! If you're paying for anything, make sure those are paid. Make sure you're taken care of. Make sure you have food for yourself and you're staying healthy as possible. If there is any money left over to spend, treat yourself. But always be wise about what you spend your money on!

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  27. I've always been guilty of relying on my parents for money and overspending on small things (starbucks multiple times a week). It is extremely easy to do this since mom and dad never made me get a job and no matter how much I seem to spend, my card still gets reloaded frequently so I tend not to think about how much money I am wasting. I also have never filed a tax return even though I know i should learn how to.
    Advice I would give to students to avoid these financial habits would be to maybe, instead of just whipping out the debit card most of the time like I've been doing, set a budget. Just withdraw a little amount of cash to use per month and to not go over that amount. It is very easy to drain the bank account when we are just using card over and over. Instead of buying coffee and food every day, pack your own food. It's tempting to buy outside food and drinks, but ignore the temptation.

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  28. I am guilty of a lot of these things. I eat out almost every day, and spend a lot of money on food. I tend to overshare, and post a lot of what I buy or eat. I do spend money on one-time expensive things, like concerts and sports games. I spend on small things, and tend to buy what I think I need. Advice that I would give is to budget yourself. I spend a lot of the money I earn, but I also keep money in my savings. Buy only what you need, and will be using more than once. If you're hungry, make sure you look at whatever you have where you live first. Buy things early on, and don't wait last minute.

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  29. I for one have a problem getting up in the middle of the night and driving ti go get food I don't know why I do this but I do. My favorite thing to get is to go to 711 and get a Slurpee and when you are a broke college students those five dollars and gas pile add up. If I didn't do that then I would save around 20 dollars a week and that would pay for my gas for the week but I don't because I love Slurpees so much.This article hits the problem right on target maybe eventually ill cut back from that.

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  30. I am guilty of spending lots of money on coffee just to be able to handle the day. The sad part is that I am able to make coffee at home, I even have a coffee cup to be able to bring with me everywhere I go.The bad thing is that I ALWAYS put it off, just because I'm too lazy to do it.I have also been guilty of staying up late and hitting up that junk food place at midnight (In n Out closes at 1 am by the way). I advise everyone is to take the time to make a meal plan, on days such as Sundays, and make meals and snacks for the whole week. With coffee,simply wake up earlier to make yourself a cup.If you're too tired to get up,just lay in your bed for a while to give yourself time to actually wake up then go make your coffee.

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  31. Having the meal plan is good but not everything in the dinning commons is great. Don't get wrong eating out at Panda Express or Taco Bell is yummy from time to time. However, setting up a system on how you spend your money and when is better. Who cares if you have to suffer a little bit with the dinning common meals. Get a salad. Also, relying on your parents is good for a little while but when they start to stress out about money thats when you start to stress out about it as well. This article sums up all the actual truths about spending money in college. I think I'll start to budget my money better in order to make savings for the possible big changes that are to come as an adult.

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  32. I do not believe I am as guilty as before, but before I even started applying for college, I ate out everyday, asked my parents for money and procrastinated all the time. Now that I am attending college and received no financial aid, I have been trying to save every penny I can. I commute from San Francisco everyday, so gas can be a pain in the butt, I would travel as little as possible. Advice I wish I gotten before I started college was to save as much as possible and eat whatever is cheap you could get filled up with. Also, get a part time job in high school, so your bank account could have a little emergency money.

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  33. Going into college I didn't think I would be spending large amounts of money on food and by the first week of school i found myself spending around $10 a day. Sometimes I'd forget to eat breakfast at home so I'd eat some taco bell in the morning from the school's University Union. And since I had class at most 10 hours one day a week I'd end up eating breakfast, lunch, and dinner at school since I commute. This combined with my social life and text books started sucking the money out of my wallet and an incredibly fast rate and now I have to stay cautious of what I spend my money on. I would suggest that future college students stay away from buying food at college and to just bring food from home because it really is the fastest way to lose money.

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  34. I'm guilty for majority of these, but mainly posting what I do on social media, relying on my parent's money, and one-time exceptions. I don't post that often on social media, but I sometimes snap what I eat and do which could be dangerous since the filters can trace my location. I got a credit card to use for food and gas, but I've been spending it way more than I should before I moved to Hayward. I usually buy food, gas, or shop at grocery stores but the amount tremendously builds up by the end of the month. I haven't been using the card as much as before since I moved on campus. I rely on my parent's money for those necessities, however I usually pay for new clothes and shoes with my own savings. Although I have a decent amount in my savings, I shouldn't be saving more than spending.
    I advise students to set a weekly or monthly budget and also keep track of their spendings per week or month. Reflecting on the results by the end of each month will tell them that they're either spending too much or are in the clear. Think more about what you need to buy rather than what you want to buy.

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  35. I'm definitely guily of having to rely on my parents for money and spending $4.00 daily on a cup of coffee from Starbucks, but seriously Starbucks is life. Although I have backup food in my dorm, I'm usually too lazy to make something of my own and I go out and buy something instead, or I simply just don't have time to whip something up in the microwave. Procrastinating in college is the worst considering the fact that you're paying for your own eduation; creates a lot more pressure and stress right? Late night bingeing is a bad habit although I just want to know what happens next in Grey's Anatomy. Always make sure you're organized and prepared for any upcoming exams in order to do good in school.

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  36. I am full of guilt in one aspect, and it applies to oversharing on social media. I love social media to be honest, and I always go on it whether I have leisure time or not. I am interested in dank memes and current events since, Oh and dank memes are just a reference to hilarious memes/pictures on the Internet. Anyway, college students in general are most guilty of eating outside and that can be expensive for anyone. Many college students also drink coffee on a daily basis and it usually happens to be Starbucks. Personally, these everyday transactions of $4 coffees do add up and if you cut it by half, you can save a lot of money in your budget.

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  37. I'm guilty of taking advantage of the money that I get from my mom. Even though I try hard to spend as little as I can, there are always things that come up. Sometimes my roommates want to go out for dinner instead of eating the dorm food. Or even in between classes, sometimes I will grab a Starbucks. I need to remember that it is okay to say no and to limit myself on spending too much on the little things. I would tell others to worry about your own financial situation and stop comparing it to others. We are all have different lives and need to do what fits us the best.

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  38. I am absolutely guilty of many things and one of the main things that i'm guilty about is spending so much money on unnecessary things. For example there is no need for me to be going out almost every day to get food with my friends if i have the 7 day meal plan at the school. the other day I went grocery shopping with my friends and we walked by the Pj section and i had no self control and i bought myself a Minnie- Mouse onesie, which was clearly not necessary at all. I would definite tell other college students to not spend much money on food, even though i understand that the Dc food is not that great, we are still paying for it every quarter so might as well take advantage of that and save money by not going out so much to get food. Once in a while its okay to treat yourself by going out to get food with friends, but we have to take in mind how much money we are spending and give yourself an amount we are allowed to spend every month to try and improve our spending habits. Also maybe if you can become a little more independent and not ask parents for much money, that would help, the reason why is because if we ask our parents it becomes easy money, and therefore we are more likely to spend it on things we don't need since we didn't work for it. we tend to take things for granted when they are given easy to us. Therefore take in m ind all the hard work our parents put in to give us the life we have now, make wise decisions and make money last longer by thinking before you spend next time.

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  39. I'm guilty of #6-#9. I rely on the money my family gives me when I really should start thinking about getting an on-campus job soon and earning my own money. For most broke college students, they see the expensive price of one product and quickly walk away but when friends suggest they want to go out to eat, they don't hesitate. I make one-time exceptions all the time and always telling myself that I'll make up for it later, but that's not always the case. Personally, I'm living in a dorm so I admit that I don't really think about the costs. Some suggestions I could give college students to avoid acquiring these nasty financial habits is to build a budget, open a checking account with a debit card (if you haven't already), take advantage of your student ID, use a credit card wisely and only during emergencies, and think ahead by saving.

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  40. I am guilty of #6 & #8. I tend to rely on my family a lot for money even when I have a on campus job and should be looking for a second job out of school. As a college student it is very hard to balance both school and work at the same time but its worth it because you end up making money and paying for your own expenses. However, you have to learn to not over spend. I Also tend to spend a lot of my money buying my lunch on campus instead of making my own. I don't live on campus and I already spend a lot of money on commuting to campus, spending on food is just adding up on to me wasting more and more money that I should be saving to pay for the next quarter/semester. A suggestion I could give college students to avoid these horrible habits is to start creating a budget, get a debit card, get an on campus job (or any job in general), don't eat outside of campus or dining places on campus make your own food, use credit cards very wisely (don't over use them or you'll end up in serious debt, and lastly take advantage of your student ID card.

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  41. I am guilty of number 4 and number 8. I am a huge procrastinator. I usually end up waiting 2 hours before I have to go to sleep to start homework. This is mostly due to my obsession with netflix. For some reason it just becomes really hard for me to close the netflix tab so that I can start homework. I tell myself just one more episode and I end up watching the whole season. I also simply don't know how to manage my time. I am given a good amount of time to get assignments done but I always wait until the day before to finish them. As for number 8, I wouldn't say that I'm the worst when it comes to spending on unnecessary things. I work a lot and make my own money. I live at home so I luckily I don't have to worry about dorm expenses or paying any bills. The things I usually spend money on our food and clothes. I got to school and in between breaks I'll try to get something to eat because I know that I won't be getting home until night time since I usually close where I work. As for clothes I am always filling up my Forever21cart with stuff. In my defense I spend like a month taking things out and making sure it stays under my budget. Even with my spending habits I have a good amount of money saved up so I think it's about making sure you have a balance and the you are aware of home much of your check you're spending.

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  42. While reading these list of habits, I find that I am actually pretty good at managing my money in college. All but one of these habits apply to me and that is #7 which is making one-time exceptions. This usually happens when I am working really hard in school and I want to reward myself. I say, "this is just one pricey purchase and it will not affect me that much" and then I end up saying that a lot more times than I should. I am a music lover so a lot of my money goes toward concerts. I also do not want to be alone when I go to a concert so I end up paying for someone else's ticket as well. This is something I am working to get better at and hopefully in the next fews years of college I will not have this problem repeat itself. A tip I suggest for college students is that if they go home on a weekend they should bring some food from home instead of going out to buy groceries near the college. This tip has helped me save a lot and I rarely had to spend money on food here.

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  43. Most of these things I am really guilty for, I did not even realize the cost or the harsh reality of college until I experienced it first hand. I am most guilty for taking advantage of my parents money they are basically funding me and paying for everything I do, whether its eating living or going to school they are the source of it. I do think about helping my parents a lot down the road one good reason to why i came to college is to fund them back, I personally would never forget about them. I always eat at the dining commons and I am always frugal with my flex dollars on campus I only spend money on food and supplies for school or for the dorms. Usually, we all eat late night at the cafeteria and if not we bring loads of canned foods, freezer food, and top ramen stored just in case we are very hungry. Honestly, I am a very lucky girl when it comes to money my mom pays off my credit card bill but I only use it for books any dues I have to pay and gas, plus I don't even have a car in college so I really have no need to use my credit card. I am also lucky because I can uber home since I only live thirty minutes away from school no expensive air flights for me. I would recommend college students to not spend too much money on shopping, materialistic items, or anything unnecessary spend money on the important things only and watch what you are buying and keep all receipts.

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  44. Im guilty 4,6,7,8. As a college student, I procrastinate for almost every exam/essay and I rely on my parents way to much. Sometimes i feel bad for always asking my parents for money knowing they might go to a nursing home before I pay them back. Also i buy the most ridiculous item that, in like a couple of hours, i get bored of. Usually i am always out with doing who knows what while i might have a midterm or paper due like the next day. This list/ article make me feel straight guilty for what i do.

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  45. What suggestions could you give college students to avoid acquiring these nasty financial habits?
    As a first year her in college it would be odd if didn't suffer from any of these bad college habits. And I do have more than half of these nasty habits that I suffer from, maybe except the credit card one, because I was blessed with a strict mom and was never allowed to sign up for one I am stress free from that. I think it's perfectly normal for most freshman to suffer from most of these bad habits, because for some of us it is our first time being away from home and the first time some are managing their money on their own. Some ways to avoid acquiring nasty financial habits is to stay in even if you are tempted to go out save money. Get a job on campus, either on fast food, or through work-study. Look for other people that share the same classes or majors and share books with them. The best store to go to is Dollar Tree it has almost everything people need and it will save tons of money compared to other stores, or supermarkets. Do not get a school credit card it will drown people to death.

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  46. Reading this article sparked up a lot of guilt, considering I pretty much do every single one that was listed. I am especially guilty of constantly buying coffee when I am more than capable of making a pot at home. Although I do not live on campus and have quite large gaps in between class I do spend a lot of my free time eating out, which definitely adds up at the end. I do not work much because 3 days out of the week I am at school til 6 or 8pm so I am by no means bringing home a ton of money, but having to pay my own bills (besides rent, thank you dad) all the money I could have saved from eating out would be amazing right about now. I am very proud to say that since I have been in college I have not asked my dad for any money. I can work on my spending habits when it comes to unnecessary things such as food, coffee, and an occasional shopping day, but I am always able to pay my bills and not have to ask my father for any money.

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  48. After reading this article, I realized I do almost every one of them. I don't live on campus, but I can still relate to majority of these. I spend hours a day on campus and have long breaks in between my classes. Therefore, I tend to buy something on campus to eat or drink during my breaks. Because I have school every day of the week, I tend to do this every week day, and it adds up. Also, having a credit card doesn't really help, so I think I may start bringing cash or just pack something from home for me to eat throughout the day.

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  49. I think these 9 habits are very truthful. Living in a Dorm myself can relate a lot. our meal plan is already included in our tuition so we do not run out of it but at CSUEB we have flex dollars which is cash that can be used on the fast food restaurants on campus but theirs a limit. Like the article said, its better to stock up your freezer with nuke items such as hot-pockets, top ramen. I also feel guilty when I rely on the magic money tree . I always ask my parents for money , sometimes I say I need a book when I really do not and I feel guilty. surprising I do a lot of these habits I really do not need to go to Eisenstein bros three times a week to get a coffee when I have access to a coffee maker in the Dorms.I over spend on small things when their just wants instead of needs.

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  50. I don't live on campus so I can't necessarily relate to all of these but I can definitely relate to some of the habits that aren't directly towards students living on campus. especially the one that talks about relying on your parents. I do relay on my parents for many things and I am grateful that they do provide me with pretty much everything I need, but I do know that I should start helping them out because I can't rely on them forever. I also go to Starbucks every week and I know that it adds up.

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  51. College today is making students suffer financially quite drastically. We do not have the time to properly pay for our tuition which makes us apply for loans which we cannot pay off until we get a job in our career. Jobs are really hard to find because of the baby boomers. The small financial aspects like food, housing, gas, and other needs also builds up if students don't already have jobs.

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  52. Living on campus for some colleges is actually more expensive monthly, with less, than those who live off campus. There are a ton of college students that are not paying for their school or relying on mom and dad to help them out with allowances or to help fulfill payments when they are due. As one of the college students paying for everything themselves, budgeting and saying no is the most necessary thing, living on or off campus. Lets be honest college is expensive and not really affordable for anyone but those who want to be here find ways. Mommy and daddy will not be around forever and when it is time for those who are dependent on them to be adults and pay for their own gas are going to struggle. You do not need to go out to eat with your friends all the time or go party every weekend, you may not realize it but that cup of coffee or case of beer all add up over the end of the month which can make or break your budget.

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  53. Since I live at home I have the luxury of not having to pay for rent, but living at home has also caused me to spend money whenever I want because I can. Saving money while you're young is important because you should always want a foundation to start building your life on. I am sadly a product of #9, not looking at the bigger picture. Being tough on yourself with money is hard especially when you are always hungry or always wanting to buy new makeup items. Those are both my guilty pleasures. But growing up isn't easy, It takes time and mistakes to learn the right path to travel on.

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  54. After reading this post and the comments that go along, I feel more thankful to still be living at home with my parents. I still relate to some items on this list, like overspending and paying for things that I know I don't need. I wish there really was a money tree :-( Having a job gives me even more freedom to binge spend but I'm slowly getting better at saving my money. The comments I read prepare me for the challenge of living on my own next year. I know I'm going to have to work everyday this summer in order to save up lots of money.

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  55. As a college student myself, it is hard to save money. Going to a junior college, has saved much of my mom's money with the help of financial aid as well. Attending a four-year university in the fall will heavily impact the amount of money I owe for my college tuition. Living at home for the last 2 years has given me the luxury of home cooked meals, free rent, and free everything. But it is time that I learn to adjust.

    On the other hand, I have been saving money since I was 12 years old. The money I have accumulated so far, is not even close to what I will need to survive on my own. Spending money on food, rent, and school supplies will come from my own pocket alone. The comments above have informed me I will need to work hard every day, to accumulate the money I will need to survive at a four-year University, and as well as on my own, once I live by myself.

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  56. Now in my third year of college, I have still not learned how to stop spending money on food. I always rely on "Flex" dollars for the first couple of weeks in the quarter, but then I run out of "Flex" dollars. I have to use my own money for the two months that are left in the quarter. It's funny because I am willing to pay $5 for a coffee yet not on shipping and handling or detergent. I know that I have to change my priorities which I am doing little by little ,nut it is really hard to do.

    A key of advice for new college students, don't spend money if you have no money! Let's say your friends invite you to dinner and it's about $20 and you only have $30, what are you going to live off after you spend those $20 dollars? Sometimes it is better to just stay home and safe money.

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  57. It's my first year in college and I pretty much stay at home. I don't pay for any kinds of bills besides my car insurance or anything for my car. I would say that I'm pretty good at stretching my dollar, I could live without a cup of coffee from Starbucks everyday. But I do spend a lot of money in terms of going out to eat with my friends. I could improve on my budgeting by actually making and following a budget; maybe spending more time at home learning how to cook rather than going out to eat. I've also been thinking about getting a credit card just to build credit, but many of my friends have advised against it because I would still have to pay the money back.

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  58. #4 is very relatable because I procrastinate a lot. It is something that I am currently working on. Late-night bingeing is common among college students because it's so easy to just call and order a pizza or go out and get fast food. It is my first year in college and I stay at home, but down the street from my house is a fast food plaza and it is tempting especially since I usually get home late and those are the only places open. I started just meal prepping Sunday nights and taking home made lunch to school instead of buying and it saves me money.

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  59. I am guilty of about four of these. Honestly coming from a college student try your absolute hardest to break these habits above. I personally and very guilty of procrastinating my assignments I have due. If you get on your stuff right away you will be less stressed believe me. Keeping Top Ramen in your dorm is handy because it is so easy to make. I would suggest eating at the dinning commons, only if you have good food. Personally I do not ask my parents for money, I always hated asking them especially because I know they do not have the money. I agree that you should not ask your parents for money unless you desperately need to. Your parents are not going to be able to support you forever they helped you this far so now its your turn to help yourself. Just try your hardest that is all you can hope for in college.

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  60. Anavenessa Aguirre
    ENGL 1002
    I strongly agree that college is a time where we have to learn how to budget ourselves. As like the blog says we tend to spend our money on food, because it seems easier especially during a time crunch. This is me every day, because I am always running late to class I have no more time to pack a lunch so I just buy anything on campus, which is where all my money is heading to. As the blog say we should rely on top ramen, but I disagree because it is super unhealthy for us and is not a real meal. However, difference for me is that I live at home and not on campus. Also, this blog brings up a great leisure activity, discussing that whenever we get invited out that requires a lot of money to be spent we say yes and need to learn how to say no. This is also true for me, because I am always that friend who wants to do something. I also go to a lot of concerts with my friends. Sometimes all of this going out makes me procrastinate with my homework a lot, because I also work, which gets in the way.

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  61. I think a lot of college students relate to this. My personal bad habit is #7. I get so hyped up to splurge on a special event and it takes me months to pay off my credit card. I've been going to a bunch of concerts and buying really expensive shoes that aren't in my budget but I force them to fit in my budget anyways. I'm also guilty of committing bad habit #6. I work and spend my own money, but when I run low I know my parents will help me out. This is a bad habit because I shouldn't count on people to save me when I run low on money. I know that one day my parents won't be there to bail me out.

    I should avoid these bad habits because I am in college and I'm getting closer and closer to having to be completely independent from my parents. I think all college students have something they can relate to from this blog.

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  62. I am only guilty on a couple of these. I do not live on campus so I do not have the relate ability to these as other people would have. Having to live with my parents has helped me a lot in seeing how hard it is to be an adult and having bad habits like the ones presented in this article do not help. I do know how to cook but because I am lazy to cook I tend to go out to eat more than stay at home and cook for myself which would be healthier and would help me save a lo more money. I agree with the point that during college is the time in which we learn how to manage our money because with the freedom of not having to listen to our parents we would have those moments of frivolous spending and not caring about the consequences because we dont really know the real life long term outcomes of our actions regarding a credit card.

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  63. As a current freshman in college , I completely agree with this article in all its truths about college especially finances. I personally can relate to a lot of these tips. Personally the dorm situation, I find myself guilty of constantly relying on my parents to continuously buy me groceries to eat instead of budgeting and solely eating top ramen and in the dining commons. However, recently I got a job and can now buy my own necessities which is probably a weight off my parents shoulders, however; relying on my parents have been great and much appreciated. But one thing I'd recommend to incoming college students, is to budget your spending and be a little more understanding and willing to gain a some sense of independence rather than to depend on your parents money. Considering getting a part time job can also be beneficial to you and your parents.

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  64. As a current college student, perhaps one of the biggest issues I have throughout my transition from teenager to young adult is the management of my finances. It comes to no surprise to me that I am guilty of many of these habits, as they seem to be pretty common habits of the typical college student. Being a full time student and a Hong Kong kid from a well-off family background, I find myself having little to no thought and consideration when spending my parent's money (especially when it comes to food). However, I am aware of many of these habits, as I avoid using credit cards completely in order to prevent a financial debt and I try to save money wherever possible unless I absolutely need to purchase something (e.g. a desk, school materials, a coffee maker) that would save me money in the long run. But perhaps one of the biggest pitfall I am guilty of falling into is eating out often when I really should cook at home more. One of the reasons I use to justify eating out often is that it is too much effort to cook and clean when I could simply eat out at a restaurant and not have to worry about cooking and cleaning. However, I do realize that it would ultimately be healthier for me to cook at home, and most likely save more money in the long run. I guess its time for me to make a change for the better.

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  65. As being a college student I do understand a lot of the finical struggle. This whole article was an overview on what I spend a lot of my money on. My main common habit is getting food every late night. I find that I stay up late every night studying and then I notice I get hungry. Eating late at night made it a schedule for me to get food every night. My body does not get hungry during the day. Including, Everyday I buy Starbucks and it would be better in the long run just to buy a coffee machine. This article was just and eye opener for me to see how much money I do spend everyday on small thing and how they add up quickly.

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  66. As being a college student I do understand a lot of the finical struggle. This whole article was an overview on what I spend a lot of my money on. My main common habit is getting food every late night. I find that I stay up late every night studying and then I notice I get hungry. Eating late at night made it a schedule for me to get food every night. My body does not get hungry during the day. Including, Everyday I buy Starbucks and it would be better in the long run just to buy a coffee machine. This article was just and eye opener for me to see how much money I do spend everyday on small thing and how they add up quickly.

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  67. When I first read the title I was really curious of why they said it "college will suck the life out of your wallet." I agree with this because being in college I have slowly gone broke. I agree with this article to the full extent because almost everything on here has happen to me. Except for the one with the parents. I do not ask for any money from my mom because I was the one who decided to go far from home. I have a job which does provide good money. The bad thing about not having to stress about money is that I feel like I can spend it like nothing. I always prefer to eat than go eat the DC and that is where all my money goes. The only reason I eat out a lot is because I do get lazy to wash dishes or even get up to go to the store and cook. Struggling in college only helps you become stronger when you go off to the world alone.

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  68. I am guilty on only a few of these nine bad habits, but my biggest problem is saving money. I am always spending my money as soon I get my paycheck, I try to save at least three hundred from every check that I get but it always seem to fail. I recently got a car so I start to have car payments that I had to pay so I had to start saving money. I came up with the idea to give all my cards to my close friend cause shes good at saving money so she had them all and i only had 20 bucks a week to spend and even though it was horrible only having 20 dollars I managed not waste any money and make my payments on time.

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