Column|Annie Berger
Spending less instead of gaining more can help improve student lifestyle
Wish you were a millionaire so you could travel the
world, live in a villa and go out shopping or clubbing every day?
As a job-less student, I am often asked how I can
manage to live while having no income for a medium time period. I do not work,
not because I was unable to find a job, but because I chose not to work to
focus on studies for some time. Needless to say that I have worked intensely for
the last three years.
Yes, but your parents pay everything for you, some may
say. Not that much, actually.
In the student world, there is a misleading thought
that having a highly paid job equals being wealthy as a whole. May a student
earn $300 a week, 50$ or nothing at all, financial results may end up being
strangely similar in the long-run.
How much do you spend?
It seems some factors are hidden when it comes to
considering the effectiveness of producing income. I mean by this that one must
not forget to consider what the net income is: the income minus the expenses. Is it actually
efficient to pay for a car and its gas – having a 10 km distance driven twice-
for a 4 hour shift? Think about it. One spends part of his or her income to
earn it. Thus, hypothetically a 44$ income of a regular 4 hour
detail-store-Friday-evening-shift ends up in reality being a 40$ gain. Alas, there
is an illusion of making a certain amount of money while not considering the
expenses it involves.
If one goes out twice a week, let’s say spending on
average 30$ each time, this results in 60$ less in one’s bank account weekly. Not
to talk about the increasingly high prices of going out: taxi rides, alcohol,
food and tips - matched with shows and festivals. There are so many appealing
reasons to spend for students, it is difficult to resist. I do not wish to discourage
such activities, I want to point out that spending is something that can be
controlled. Of course I do not bash on spending for a necessary OPUS card – or
a car, depending on where you live- or basic living expenses, but for the rest,
there are so many things seen as socially mandatory that are indeed choices.
Choices
Using simple math combined with being wise and
thoughtful, finding the best paying job might not be the only solution to increase
your financial backups. Even if it may seem disastrously boring, trying to reduce
your expenses with smarter options could make a huge difference. Why not take
part in free events in the city instead of paying for event tickets? Buying
alcohol at the SAQ instead of bars, having friends over at your place instead
of going out? Bringing homemade coffee in a mug instead of buying it each morning?
Making your own lunch instead of buying it? Small steps that added up together,
could allow one to reduce work hours- and, consequently, to have more free
time- or gradually have more money aside.
This may seem similar to environmental awareness campaigns,
always trying to make people change habits in order to increase recycling or
personal health for instance. On an economic perspective this time, the same
concept applies: there are small choices everyone can take to gradually modify
habits leading to a better lifestyle. Why not use this strategy by changing spending
habits, not be obligated to work more, and keep more money in reserve?
Over all, it all depends on choices one makes about
his or her lifestyle. What goes before what? As an example, not spending for a cellphone
contract (yes, it is still possible) ‘‘saves’’ me at least 450$ each year for
which I later on spend in traveling. Fashion hobbies can also eat up budgets- that’s
all part of making choices.
In the long-run, gaining a lot of money does not mean
having a lot aside. The ability for students to eventually assure an apartment,
buy a car or travel cannot be taken for granted. Try listing your earnings and
your expenses, then see what your real earnings are. One could gain an impressive
wage but actually be less financially well off to leave two weeks this summer
than someone barely working, but also daily barely spending. The illusion of
being wealthy tricks student communities.
Annie is a second-year World Studies student and Editor-in-Chief of this blog and newspaper.
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