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I Tried Dave Ramsey’s Envelope System and Here’s How it Turned Out

As a full- time college student I find myself conforming everything around my school schedule and unfortunately this has included my budget. It’s so easy to stop by a drive-thru for a quick meal, or to convince yourself that the $4.00 White Chocolate Mocha at Starbucks is a necessity Continue reading “I Tried Dave Ramsey’s Envelope System and Here’s How it Turned Out”

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3 Mindsets to Take with You on Your Next Job Interview

It’s the night before the interview. Your outfit is all laid out, your resumé is hot off the press and you’ve Google-Mapped your route. You’ve done your company research and you’ve practiced answering the tough questions. You are perfectly prepared—and you still feel like a nervous wreck.  Continue reading “3 Mindsets to Take with You on Your Next Job Interview”

Are you frugal? Or are you just cheap?

There are multiple ways to save money, some ways work better than others. While a bulk box of 30¢ noodles and tuna pouches may satisfy the cravings of one person in order to save money, it may make another dread eating at all. One thing that I have learned about budgeting and putting money aside is to learn how to be financially smart. A part of making smart decisions is to know the difference between cheap and frugal; In simpler terms, knowing when you are getting a good deal for your money, versus throwing money away. Being frugal requires a little more thinking, but ultimately saves you more in the end. Imagine you’re at the grocery store and you approach the chip aisle. Your eyes will divert you to buy the off-brand bag because it sits at roughly $2.50, compared to the bag of Lay’s at $3.50. Buying the cheaper bag is the act of being cheap. Looking at the ounces in each bag in a ratio to the price and choosing the better deal is being frugal. In this case, the off-brand bag gives you 7 ounces of chips leaving you at spending 36¢ per ounce. Buying the 10.5 ounce bag of Lay’s will give you a better deal at 33¢ per ounce plus a better tasting chip! Being frugal doesn’t stop at the grocery store; it can also be small investments. Spending a little more money on better clothing will keep you from running back and forth when cheap clothes rip or distress easily. Buying cheap will, more times than not, get you cheap.

“Frugality is getting more for less. Cheap is getting less for less.” – J.P. Lynn

Budgeting is important, but budgeting smarter is more important. Investing in a grocery store membership will give you access to bulk products, and buying in bulk hands you the opportunity to pay less per ounce of product while stocking you up at the same time! Another instance of buying cheap is being persuaded or pressured into paying for something you do not actually need. I am guilty of seeing shoes on sale for $10.00, or a Bluetooth speaker in the clearance section…. And then never wearing the shoes, and never needing the speaker. Don’t fall into purchase pressure! Knowing what you are spending and the value of the purchase is the smartest way to keep a healthy budget. Mindless purchases can empty your pockets for such a waste, but knowledge is key! Money is a part of life, but managing money will help relieve the stress of having to live cheaply. Keep your spending happy!

 

This post was written by FTWCCU employee, Brittney Goolsby.

9 Discounts You Can Get with a Student ID

Life as a college student can be stressful. From balancing a social life and maintaining good grades, to managing your (limited) finances. Fortunately, there are a handful of Continue reading “9 Discounts You Can Get with a Student ID”

3 Money Habits Every College Student Should Have

With the cost of college rising every year, it has become more and more difficult to make ends meet and still have a healthy amount of savings Continue reading “3 Money Habits Every College Student Should Have”

3 Ways College Students Can Cut Expenses

College is expensive. Everything from tuition, to room and board, textbooks, and even everyday expenses add up Continue reading “3 Ways College Students Can Cut Expenses”

3 Ways to Keep the Cost of College to a Minimum

Everyone is broke in college at some point. Whether you have to support yourself fully or your parents are helping out Continue reading “3 Ways to Keep the Cost of College to a Minimum”

Community College: a Blessing in Disguise

When I was accepted to Texas A&M College Station’s Blinn TEAM program, I was, to say the least, a little disheartened Continue reading “Community College: a Blessing in Disguise”

Swallow Your Pride, Not Your Savings

Taking on the financial burden of college can be a humbling experience, but learning to live economically Continue reading “Swallow Your Pride, Not Your Savings”

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