Tis the Season to Be Saving: Financial Tips for Break and the Holidays

For many students, college life means being broke – and this is especially true around the holidays and winter break. With gift shopping, holiday parties, and outings with friends, the pressure to spend money can leave students feeling less than festive. What should be a time of joy and relaxation becomes a burden.

Fortunately, it is possible to save money and enjoy the holidays. Here are some tips to help you stay in good financial health over vacation.

1.) Think Modest. You’re a full-time college student. No one expects you to give extravagant gifts. Give small, thoughtful presents, go homemade (baked goods are always a hit), or consider limiting your gift list. Some families do a Yankee Swap; others pull names from hat and select a present for the person whose name they pulled. Be honest about your financial situation with your loved ones. You even might ask siblings, friends, and extended family to take a break from gift-giving this year. They may be glad you suggested this!

2.) Check Your List – Twice! If family members ask what you want for the holidays, think about your needs. Do you have enough clothing to last you through the next year? Socks? Do you need help buying books or school supplies for next semester? Could you use a gas card or points for your meal plan? Don’t be afraid to ask for necessities: most loved ones will be happy to help you pursue your goals. If you receive money, save it or earmark it for next semester’s expenses.

3.) Be Selective. During break, you may be tempted to spend money on entertainment, including movie tickets, restaurant meals, concerts, and nightclubs. Of course, you want to have fun with friends, but you don’t want to lose your savings. Limit your outings, or plan less expensive ones. Consider going to a matinee – or staying home and watching DVDs with popcorn. Check your local newspaper and see what free events are going on in your hometown. Clip coupons for your favorite chain restaurant. (Sunday newspapers usually include them.) Can’t afford that lift ticket? Try bundling up and taking a walk in the snow.

4.) Treat Yourself. Maybe you really want that concert ticket, dress, or season pass. It may even be worth it. But before you open your wallet, think about what that splurge might mean. Will seeing your favorite band live be worth a few months of being broke? Will you have opportunities to wear that dress? How often will you be able to get to the mountain this winter? It’s normal to want to reward yourself for hard work, but a smaller treat, whether it’s a book, garment, or a trip to your favorite café, might make you just as happy.

As the year and the semester draw to a close, think about your financial goals for the year ahead. How can you save money and reduce your debt? This sounds like a grim process, but it doesn’t have to be. After all, the more money you save in college, the less debt you’ll have after graduation. Think of being frugal as preparing for the future – just one more step on your journey to the life you want.

– Dorothy A. Dahm

Sports and School: Finding the Perfect Balance

Before the school year began, you were more than excited for a new year and a new team.  It felt so good to say you were a collegiate student athlete—the best of both worlds.  But then….reality kicked in: an exam on Monday, a team meeting Tuesday, two ten page papers due by Wednesday, an away game on Thursday and community service on Friday?!…and, of course, the infamous question: “Do I even get to eat today?!”

Don’t worry—it’s NOT impossible. Take it from someone with a cumulative GPA of 3.9 and four years of varsity experience.  Since freshman year, I have had over fifteen professors and have experienced both the soccer and track and field teams.  Check out these strategies I have developed to keep my stress under control: 

 

  1. Organize. The first step of managing your time is organizing your time. When I say organize, I don’t just mean color coordinating notebooks and planners.  Have a calendar on which you write sport AND school events.  Make “to-do” lists and determine which items are the most important—complete these first. 

 

  1. Plan ahead. Classes and practices are bound to interfere with one another.  Before this happens, carefully look over your comprehensive schedule.  When you come across a conflict, be proactive.  Immediately inform your coach and professors, and let them know what your situation is.  All parties will respond more graciously if you inform them well in advance—that’s a guarantee!

 

  1. Communicate. You are not the first student-athlete to struggle with time management.  Coaches and professors have taught many just like you, so don’t be afraid to reach out to them.  Not only is this suggested, it’s completely necessary! No one can read your mind, so you need to advocate for yourself.  Let someone know if things seem to be getting out of hand.  Coaches and professors are not only here to teach; they are here to help.  Let them. 

 

  1. Make time for yourself. This is much easier said than done.  However, it’s the most important.  If you don’t take care of your body, you will underperform in school and sports.  Taking care of your body doesn’t only pertain to diet and exercise, but also sleep habits, stress control, and mental health.  Bad habits are easily formed and their negative consequences are unavoidable.  If you aren’t sure how to be healthy in all the aforementioned aspects, talk to a captain or coach, or stop by the Wellness Center. 

If you have practiced all of these strategies, and you still feel overwhelmed, take a moment to consider your options.  Ask yourself why you are playing the sport in the first place.  Playing a collegiate sport is a lot of people’s dreams, but the reality is that it’s not for everybody.  Make sure you are playing for yourself and not for anyone else.  Play for the right reasons, and don’t settle for anything that makes you less than happy. 

Finally, sit back and enjoy the ride.  These years fly by, and it’s important you enjoy each one of them.  Please, always remember, you are never alone in this crazy college world.

-Christiana R. Carmichael

Christiana Carmichael is a senior Education Major and four-year collegiate athlete.