Saving Money this Summer: Yes, It’s Possible!

 For many college students, summer means making money. They work long hours during their vacation to earn money for the academic year. However, summer brings temptations of its own, including the urge to spend! Fortunately, with a little planning, you can enjoy the summer without losing all your savings.

1.) Fun = Free or Almost Free. You don’t need to plan extravagant outings to create memories with your friends and family. Many towns offer free outdoor concerts, festivals, and theater performances during the summer; check out your local newspaper for information about upcoming events. In addition, you can hike or swim at local or state parks for little or nothing.

2.) There’s always a cheaper option. Lunch and breakfast are less pricey than dinner; picnics and potlucks are less expensive than eating out. Matinees are cheaper than evening movies, DVD rentals and Netflix are even less expensive, and your local library will allow you to borrow DVDs for free. There’s nothing wrong with the odd splurge, but make sure your “treats” are occasional and special – otherwise, they’re not splurges, but reckless spending.

3.) Think daytrips, not vacations. Check out destinations – amusement parks, nature trails, museums, and events – within a four-hour drive of your home. If you don’t have to stay overnight, you’ll save money on meals and hotel fare.

4.) Keep it separated. Most adults have a checking account, which they use to pay their bills, and a savings account, which constitutes their savings. If you haven’t opened a savings account, now is the time. Allocate a certain amount of money to your savings account every pay period. You’ll be less likely to spend the money if it’s separate from the rest of your income.

5.) Do your financial aid homework. Even if you’re working a lot, you probably have extra time on your hands during the summer. Use some of it to research scholarship options for the next academic year. Check out Fastweb, College Board, and org to research scholarships. You may have to spend hours filling out applications and writing essays. Regard this the way you would any other job: something you have to do to earn money.

6.) Stay focused. Remind yourself of why you’re in college and what you hope to be one day. Saving money in the present will be much easier if you remember the future you want. While you’re at it, start taking steps toward your goal. You’ve probably heard about how crucial internships are for recent graduates. If you don’t have an internship lined up for this summer, use your downtime to research internship opportunities for the academic year or following summer. You might also request informational interviews with people who are working in your field.

Summer doesn’t have to mean having to choose between work and pleasure. With some mindfulness, you can a fun and frugal, relaxing and inspiring season that prepares you for the next academic year and the career you want.

-Dorothy A. Dahm

 

 

No Time for Worries: Why You Shouldn’t Waste Time Building Confidence

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What would you do if you had more confidence? Change your major? Apply for that internship at the company where you’ve always wanted to work? Let yourself pursue the dream you won’t admit even to yourself?

Now you’re shaking your head. For one thing, you just don’t have what it takes – the aptitude, background, or money – to reach that mythical place. Second, you lack the confidence to take that leap. You’d have to work on building your confidence before you could go beyond googling “wildlife conservation volunteer in Patagonia” or “internship at Disney studios” – if you ventured that far. After all, there’s no point in hoping for what’s out of reach.

There’s no question about it: building confidence is hard: far more challenging than increasing your muscle mass or improving your calculus grade. That’s why I want you to stop worrying about your confidence levels. Forget about them. Yes, surround yourself with inspiring quotes and murmur heartening mantras if they make you feel good. But don’t try to fix your insecurities. Don’t indulge them: just ignore them.

Instead, I want you to do what you would do if you had more confidence.

That means applying for that internship at the magazine in New York. That means pursuing medical school if you dream of a career in medicine. That means approaching someone at a graduate school or company for an informational interview. That means contacting the art gallery about showing your work.

What it doesn’t mean is ignoring your shortcomings. You may need to take more classes, gain more experience, or improve your craft before you start law school, land that coveted position in advertising, or publish your work. Effective people aren’t delusional about their background or talents. What differentiates them from less successful people is their approach to their goals. They assess their abilities honestly, consider how they could increase their chance of success, and then act accordingly.

For example, an old friend earned a bachelor’s degree in photography. For several years, she supported herself as a newspaper and freelance photographer. Later, she became interested in health care. At that point, she wasn’t qualified to get a job in the field. Nor was she ready to apply to graduate programs in health care. However, she researched graduate programs, took prerequisite courses, earned excellent grades, and volunteered at her local hospital. She gained admission to physician’s assistant program. She graduated and is doing splendidly. My friend recognized switching careers would be tough, but she identified what she had to do and took steps toward her dream.

And these lessons don’t just pertain to the classroom and career. Try applying them to your personal life as well. Would you hang around with your current group of friends if you had more confidence? If you were happier with yourself, would you stay with your significant other? Plenty of people remain in relationships they find stifling, dissatisfying, or even abusive because they’re convinced they couldn’t do better for themselves. Don’t wait until you’re more secure to make new friends or break up with that person: take care of yourself now.

At first, faking confidence will be difficult. Any hint of rejection may set you back. But ignore those discouraging voices in your head and keep going with your job hunt, graduate school search, or other efforts. Soon, you’ll find yourself more oblivious to your insecurities: at times, they may even disappear completely. From time to time, they’ll resurface, and that’s okay. Doubt is part of the human condition. But this time you’ll know how to handle your doubts – and you’ll be able to live your best life in spite of them.

-Dorothy A. Dahm