I would classify myself as being “okay” with money. My family has provided me with a great example of how to balance spending and saving, but sometimes I don’t follow their lead and end up spending my week’s earnings on Passion Tea Lemonades at Starbucks. It’s all about balance. Money and spending habits have long been a taboo subject, especially for women. It’s awkward to ask someone what they make or how much they spent on an item. Luckily, women have been speaking out about their spending habits and earnings through outlets like Refinery29’s “Money Diaries” and The Financial Diet, a book based on the popular YouTube channel featuring young women talking about finances. To help continue the conversation, here’s an overview of my purchases and earnings as a college student at the University of Florida. Â
An overview
I am fortunate to have Florida Prepaid, which covers my tuition. If you’re not familiar with the program, it’s a system where my parents paid a small amount every month since I was young, and that money was saved to cover college tuition. The state of Florida also offers Bright Futures, a scholarship that many students at UF receive money from. Bright Futures has been changed to cover varying amounts of tuition costs based on your grades. However, since I have Prepaid, I get the additional money from Bright Futures in a check. I use that money for groceries, textbooks and a fraction of my rent. My parents and grandparents pay the rest of my rent.
I recently got an on-campus job. It’s minimum wage, but I bring in anywhere from $200 to $300 a month depending on how much I work. I use my paycheck as my “fun money” to pay for clothes, concert tickets, random Amazon purchases, etc.
My monthly bills include rent, my Spotify subscription, Amazon Prime expenses and gas (since I drive such small distances while at school, I only have to fill my tank once a month).
A week in my wallet
Wednesday: It’s Halloween! The only money I spent this day was at Moe’s. It was $9.56 for a burrito. I usually pack my lunch when I’m on campus all day, but sometimes I run out of energy to make lunch. I wish there were more affordable lunch options on campus, but alas, there are not. If I’m going to spend the money, I always make the hike to Moe’s on the other side of campus. If you’re going to buy lunch, it should be the lunch your money can buy!
Total amount spent:Â $9.56
Thursday: This was not a good day for my wallet. I spent $43 on clothes from an online site. I usually look at things I’d like to buy online for weeks, waiting for the price to drop. I guess I was feeling impulsive this day. I ate all 3 meals out (yikes!). Breakfast was at Starbucks, lunch was at Subway, and dinner was at Chick-fil-a. The total cost of the 3 meals was $19.01. But on the bright side, I did work Thursday morning for 5 hours, so I made about $40.
Total amount spent: $62.01
Friday: UF wasn’t holding classes on this day because of Homecoming, so I decided to go to Target early in the morning. I know it’s basic, but I love strolling through Target, especially now when the Fall and Winter decorations are abundant. The old saying that people walk into Target for one thing and come out with 6 holds true for me. I bought all the things I need, but Halloween candy was 30% off, so I treated myself to some Hershey’s chocolate. My Target total was $17.38 (cue the Fetty Wap song). My friend and I went out to lunch, and I spent $10.60 at the restaurant. I don’t mind spending money on lunch with friends because I see it as more of an experience than the basic need to feed myself.
Total amount spent: $27.98
Saturday: It was the Homecoming football game, so I worked 7 hours. Eventually, $50 will be deposited into my account. This week I spent more than I made, but other weeks when life is a little more routine, I make more than I spend. After work, I got lunch at KFC like the health queen that I am and took a long nap. Dinner consisted of popcorn and some Hershey’s chocolate from Target.
Total amount spent:Â $5.38
Sunday: It’s Sunday, and for me, that’s the day for grocery shopping. I usually spend $40-$60 on a week’s worth of food. This trip, however, was a little pricier. I bought staple items (peanut butter, spices, olive oil), so that drove up the price. This week’s total was $65 and I paid using some cash I have been saving for a while.
Total amount spent:Â $65
Monday: This was a good day for me because I did not spend a penny! Yep, no fast food or coffee purchases. I made a great breakfast, packed my lunch, and ate some more popcorn for dinner. One of the problems my friends and I have is not using up all our groceries before they go bad, so I’m trying to be more proactive and eat my food while it’s fresh.
Total amount spent: $0
Tuesday: I don’t have classes on Tuesday mornings, so I spend the morning in the library. As a reward, I let myself buy Chipotle for lunch. This has been a tradition for me all semester, so a weekly Chipotle meal has been factored into my expenses. There was an unusual purchase made today though. I spent $64 dollars on a concert ticket. It seems like a lot to spend in one place, but I hardly go out or spend money on cover charges or Uber rides, so my heart didn’t hurt too much after I spent the money.
Total amount spent:Â $71.30
I learned a lot about my spending routine by logging my purchases. Tracking your spending habits is very illuminating. I waste a lot of money on fast food, but now I have something to work on. Part of being an adult is handling finances, so we should all use college as a time to create good money habits to be the best boss ladies we can be!