The following guest post was written by Justin, a full-time college student who strives to serve the Lord in his daily life. He maintains his own site, followthesavior.com, with various original Christian articles.
If you are wondering what my qualifications are in writing this article than I will tell you; I am a broke college student. If you are finding it hard to make it through college while being broke, I encourage you to read through this list and apply its suggestions to your life.
1. Kick the habits.
Many habits people have are nothing but money traps that will ultimately do nothing for a person except cause an addiction to form and a piggy bank to break. We all know the habits that I’m talking about. It is these destructive habits that form during our youth, especially during college, which often plague people for their entire adult lives. Whether your vice is drinking, smoking, or even something simple as buying a lottery ticket every day, it has no place for someone who is trying to obtain an education and better themselves financially (not to mention spiritually). I would much rather save money by not forming addicting habits. However, as with most things in life, the choice is ultimately yours.
“In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.” Proverbs 21:20
2. Make a budget.
Yes. I know a budget sounds boring. A budget sounds like something that old senile great aunt Mildred would give you every Christmas. “Oh no, not another budget!” said little Timmy. Ok, I took that too far. On a more serious note; budgeting is one of the most important things that you as a college student will do. You have to learn to plan for what you will receive, and for what you will have to give out. Not only will this help you now during college, but budgeting skills will also help you for the rest of your life. By budgeting you can hopefully master the art of making a little go a long way. If you can track what you spend your money on, it will help you to cut frivolous spending and will make you more accountable every time you pull out your wallet.
“The plans of the diligent lead to profit as surely as haste leads to poverty.” Proverbs 21:5
3. Get a job.
Let’s be honest here guys, it is not that difficult to juggle a job and college at the same time. Unless you are studying Nuclear Brain Manipulation Surgery at M.I.T., you should be able to pull at least a few hours a week at a part-time job. But if that does describe you than Kudos! Personally, I am taking 18 hours this semester and working at least 30 hours a week. Now, I don’t say this to brag or make myself out to be better than I am, I only say it to make my point. Balancing school and work is not impossible, it may not always be fun or easy, but it is not impossible. It is pretty obvious how getting a job would help you to have income while going to school, but it also helps you to gain more responsibility in juggling priorities. If you can’t handle college and a part-time job, you might want to rethink having a family and a career.
“How long will you lie there, you sluggard? When will you get up from your sleep? A little sleep, a little slumber, a little folding of the hands to rest – and poverty will come on you like a bandit and scarcity like an armed man.” Proverbs 6:9-11
4. Give it away.
Yes. It appears I have just contradicted myself, but let me explain. Money is ultimately nothing but a concept that we give value. While it is a concept that we should be good stewards of, we should not take so much pride in our wealth that we hoard it all to ourselves. I am not saying that you should go out tomorrow and give away your life savings to the first homeless man you see. I am saying that you should find joy in routinely giving away some of what you do have, even if it is not much. If you don’t feel comfortable giving cash away to needy people, then find another outlet. There are plenty of ways to give. You could buy groceries for a needy family, buy Christmas gifts for less fortunate children or sponsor a child through an organization such as World Vision. I encourage you to find a way for you to give back, I am confident you will be glad that you did. If you don’t learn how to part with some of your money, it will become a stumbling block between you and the Lord.
“No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money.” Matthew 6:24
Obviously, these are just a very few guidelines to help you on your quest to balance finances and college. I encourage you to explore other options available to you and utilize what works best for you.
{ 8 comments… read them below or add one }
It has been awhile since I was in college, so I am sure times have changed. However, I think being poor and being a college student go hand in hand. You are not in college to increase your financial position, but rather to get an education.
I do agree that you should practice giving, as it is a life long practice you should follow. My other advice is to not go into debt too much – as your salary may not be as high as you expect upon getting out of college.
Enjoy your college years. While you are tired of school, you have a lot of years in front of you to do other things. Don’t focus on money, you don’t need to – build friendships and character, those things last forever.
I couldn’t agree more. One great way to reduce debt is to knock out your first year at a community college.
Good tips! I’d also add taking advantage of a meal plan….though that may fall somewhere between tips 1 & 2.
Remain a broke college student the first few years out of school so you can knock out the student loan debt! If not, you will be paying on that monster when you are 50!
Hope you’re paying cash for college, no debt. I know that’s what Dave R teaches.
Girl I work with just graduated college, and can’t find a better job that she desperately wants! Apparently getting a degree is NOT a guarantee of landing a new better paying job. Imagine that! She’s getting interviews, but is hearing “sorry you have no experience”.
I definitely love your advice, BibleDebt! My wife and I have a plan to pay off our student loans as soon as we graduate. Good thing is, we can do it in maximum of 3 years even if we both have $10/hr jobs, so we are putting Arthur’s advice to work as well.
Good advice in the article. I would recommend adding “track your spending” to the make a budget tip (though I know they go hand-in-hand). My wife and I have to pay attention to our coffee-shop expenditures. It’s so easy to go in to study and end up spending $4… multiple times a week. It adds up each month.
“If you can’t handle college and a part-time job, you might want to rethink having a family and a career.” Oh, what a good point!
Now do keep in mind that while it is possible to FT work and PT college, or FT college or PT work, …. I’ve heard a professor explain during freshman orientation not to attempt FT work + FT college load. Crash and burn, shall we say.
this is a good article for determined, strong, honest, and optimistic people.
i was once a college student who tried this. part time work , full time student. it did not work as well for me as it may another, good luck and stay positive.