How to live like a college student in the bad economy

[Junkie Brewster]

I didn't mind living like a college student. I worked full time and went to school full time and graduated with honors. I wish I had some of that energy now! It was relatively easy to live on a shoestring budget because everyone else was broke. Well, pretty much everyone else is broke today, or close to it, or worried about it. I thought I might share this article, it's got some good tips.

http://genxfinance.com/2010/06/07/how-living-like-a-college-student-can-get-you-though-tough-times/">How living like a college student can get you through tough times


The economy has yet to bounce back fully. Financial disaster lurks around every corner for many families today. Reflecting upon your college years and the lessons that you learned can help you weather difficult financial times. By keeping an open mind and positive outlook on the challenges that face you, the likelihood of you and your family surviving a catastrophic event is significant . Work hard, save money where you can, and if you live like nobody else wants to today you will be living like nobody else can tomorrow.

[Arctic Dave]

1. Sponge off your parents?

[DJ13]

2. Roommates, drinking binges, sex with as many people as possible

Where do I sign up?

[mike_c]

3. LOL-- go into debt!

I lived like a college student for more than ten years-- college and graduate school-- and today I owe close to 100K in student loans that I'll NEVER be able to fully repay.

I've always said I'd do it again if I had to-- education transformed my life!-- but still!

[backscatter712]

4. I'm taking that advice to heart - I literally am a college student again...

Fun things to do when the economy sucks: earn another degree or three!

[Ian David]

5. Fill your backpack with sugar packets, plasticware and creamers at Starbucks. n/t

[Berry Cool]

6. This article has good points, but misses many too.

It completely ignores the fact that many college students DO have a cushy life because they are sponging off their parents. It also ignores other unpleasant aspects of adult reality, such as the fact that many adults today who are broke have kids to support. How many traditional college students (as in, entered right after high school at age 17 or 18) have kids to support? They had all they could do to take care of themselves.

Second, while some of the advice is good (join forces with your neighbors, try not to buy new if you don't have to, seek out discounts and free/cheap entertainment), some of it makes no sense. For example, looking for discounts is good, but remember, many college students get discounts JUST for being students. If you're not a student, you have to find a discount some other way.

Other advice isn't going to wear well on the adult who has already "been there, done that, got the diploma, don't want to do it again." If you already did a lot of sacrificing in your 20s with the idea in mind that it would all pay off someday when you got your degree (remember that "The Tassel Is Worth The Hassle!" slogan on all your graduation cards?), you may not be so thrilled at the idea of doing it again at 30, or 40, or 50. When are they finally going to have that better life and financially secure future they thought they would have earned by age 22 or 23 or maybe after a few years more? Why hasn't all the sacrifice they put in during their 20s finally paid off in their 30s or 40s or 50s, and if they start all over, what will make this time different, and how much time will they have left to enjoy the fruits of their sacrifices? And in the meantime, do they really want to go back at 30 or 40 or 50 to eating ramen noodles, using milk crates for bookshelves and believing this is all just a way station to a better future? Should they HAVE to? And IS it?

Finally, specifically about going back to school...I'm seriously considering doing it. But I really, really hope it will not mean going back to ramen noodles. I've already put in about nine years of my life doing the college-student/poor post-college-student thing. I am willing to go back and get educated for something new, especially if it means following my heart, but I do put two conditions on it:

1. Please don't ask me to go back to living a life on the edge of poverty while I do it (it'll take about three years)

and

2. If I have to take out loans, it will only be because I am in a program that guarantees me quick access to a well-paying job that will be secure and help me pay them off quickly.

Otherwise, I have no wish to return to the "romantic" college-student past.