The thought of creating and following a personal budget makes me want to puke. I hate numbers, and I chose my college major specifically to avoid them. I’d rather write a full-length novel than calculate my monthly expenditures. But however stressful making a budget can be, it still beats finding myself with no food in my fridge or gas in my car on a Sunday when I don’t get my paycheck until Friday. Ramen noodles and Taco Bell get old real quick.
Take a look at a week in this Seminole’s college student budget.
Major: Editing, Writing & Media
Age: 22
Year: Senior
College: Florida State University
How do you pay your tuition and fees?
Getting the full Bright Futures cash amount was enough to get me to stay in Florida for college. I rarely ever pat myself on the back, but I worked my tail off in high school and I earned that moo-lah. That takes care of a solid chunk of my tuition and I have a small merit-based scholarship from FSU to cover a little bit more. After that leaves a small amount which my amazing parents so generously fund. Hooray for no student loans!
What are your monthly expenses?
On average, my rent and utilities cost around $550 a month. My oblivious roommate loves to forget to turn the living room lights off so sometimes that jacks up our electric bill. Although some people can spend like $15 a day on food, this doesn’t work for me. I’m 6’4, 220 pounds and very active—a small bowl of Ramen doesn’t quite cut it. I cook at home a lot, so I buy groceries once per week. Each trip to Publix usually runs me about $80. Other than food, I drive my car to school and work, so I fill up my car for $30 once every two weeks.
How do you pay your expenses?
I’m very fortunate to have financial help from my parents, but I also work 20 hours per week at an internship that pays well. After working full-time internships during every summer, I can contribute most of what I made there to my savings. I use my current paychecks for food, gas and partying like an FSU Rockstar for one more semester before I graduate. After graduation, I plan on moving to Chicago so I guess I should throw some money into an account for that. Geez, money stuff makes my head hurt. More money, more problems? I disagree—being a millionaire must be easy.
What are your budgeting plans for after graduation?
That depends on the size of my starting salary, but I can’t imagine I’ll have racks on racks on racks right off the bat. I plan on saving up to my goal of $8,000 before I graduate in May 2019. That way, I’ll have some wiggle room when I make the move to a new city. Since I have no plans to take a trip to Europe or anything, I’m jumping right into the workforce. Luckily, I’m coming out of college with no student debt which is a huge relief. Since my future is a little bit up in the air, I plan on airing on the safe side for now financially. As long as I stay within my boundaries when eating and going out at school, I’ve got a pretty solid budget to work with.
How did you spend your money last week?
Friday January 18
I have a crazy busy day at work from 8 a.m. to 5 p.m. and don’t eat breakfast or lunch. On my way home, I stop at Chipotle and got some much-needed food in my stomach before hitting College Avenue with my friends.
$12.50 at Chipotle – A large burrito with chips and guac
$15.35 at Standard Tallahassee – Those happy hour vodka water limes get me every time
Saturday January 19
I usually skip breakfast, but my morning after hangover tells me I need something in my stomach. After rolling out of bed at 9:30 a.m., I mosey my way across the street to Dunkin Donuts in the frigid cold for a hot breakfast.
$6.81 at Dunkin Donuts – Large black coffee and two orders of hash browns
$3.55 at Smoothie King – Medium strawberry banana smoothie post workout
Sunday January 20
I run errands on Sundays, so I blow most of my money today. I must say I have gotten much better at bargain shopping—but I still have some work to do. Maybe I should try extreme couponing next.
$72.14 at Publix – One pound of honey maple turkey, two bags of Cape Cod potato chips, spicy tuna roll, ground beef, pasta, chicken broth, avocado, strawberries, bananas, clementines, chocolate milk, eggs, bacon (GRITS, SAUSAGE!), 18-pack of Busch light for the boys
Monday January 21
Mondays are hectic for me. I have work from 8 a.m. to 1 p.m. and class from 2 p.m. to 6:30 p.m. I grab lunch on campus between work and my first class. Since I’m starving after basketball at 7:30 p.m., I swing by the Chick-Fil-A drive thru on my way home.
$7.20 at Pollo Tropical at Ogelsby Union – One large TropiChop chicken and rice bowl
$9.27 at Chick-Fil-A – One chicken strip meal with medium fries and a chocolate milkshake
Tuesday January 22
I told myself I’m going to make the most out of my last semester at FSU. After class all day and sweating it out for an hour at Leach, I get ready to head to a pre-game for Recess. That 18-pack of Busch light for the boys comes in handy here.
$5.91 on Uber – My friend claims his “app stopped working” so he didn’t have to split the ride with me. Liar.
$35.00 at Recess – Looks like I need to tone down the vodka water limes. YOLO, I guess.
$5.25 at Taco Bell – Three regular Doritos locos tacos
Wednesday January 23
My second hangover of the week tells me to grab the same exact breakfast at Dunkin Donuts before work.
$6.81 at Dunkin Donuts – Large black coffee and two orders of hash browns
$27.50 at Shell – Filled up my gas tank
$11.22 at CVS – Fresh Balsam Air scented Yankee Candle
Thursday January 24
I catch up on some reading and go out on a dinner date at The Edison.
$13.24 at Amazon.com – Tribe by Sebastian Junger
$19.11 at The Edison – Skyway Chicken and one glass of Pinot Noir
Week Total: $250.86
Spending Breakdown
- Food: $142.64
- Drinks: $50.35
- Entertainment: $13.24
- Personal Care: $0
- Household essentials: $11.22
- Transportation: $33.41
- School supplies: $0
How does seeing this influence your spending habits?
Seeing a balance sheet of my exact expenses is a little shocking. But I must admit, I probably wouldn’t change much. I normally wouldn’t spend so much on alcohol, partying and late night drunk food, but having fun and making memories while I’m still in college is important to me. I’m well aware of the price I pay financially and physically at work the next morning, but to me it’s worth it. Tracking my personal finances makes me realize that I need to grind at my internship as much as I do. Otherwise, my wallet wouldn’t sustain itself at all. If I’m going to party all night, I need to hustle all day.
A Week on a College Student Budget: FSU Seminole Style