moneylaunchmykid.com

All college kids want to save money. In fact, if they took a moment to think about it, they would like to save lots of money. And there are great ways to do that, from cutting the number of years attending a pricey university to making coffee at home rather than buying it at a campus coffee kiosk.

But…there are a lot of ideas kicking around out there, many of them ranging from lame to outright dopey. Here are fifteen of the worst suggestions we could find on our internet search, especially when it comes to students. My comments are in (parenthesis).

Oh, yeah, I am not making these up.

Use accessories to update your basics. (Yes, why not consider a Prada bag to go with the torn jeans?)
• Develop your own style by shopping vintage boutiques, garage sales and thrift stores. (And don’t forget the dumpsters!).
• Learn to sew and add your own trendy spin to basics. (Yes…and be sure to knit yourself a sweater between classes).
• Shop and compare prices at your local discount stores for appliances. (Couldn’t you use a new dishwasher?).
• Ask if a store offers student discounts. (Since ALL local stores have student discounts, then do student discounts really exist?).
• Buddy up with friends and buy in bulk. ( You definitely could use 48 rolls of toilet paper).
• Recycle plastic containers and jars for food storage. (After the first dozen or so, open a resale shop).
• Buy generic food. (Road kill may be substituted).
• Learn how to freeze food. (Yes, and how to boil water).
• Buy meat that is expiring soon and marked down for quick sale. (Leave it out overnight for a quick trip to the ER).
• When dining out, get to the restaurant early to take advantage of early-bird specials. (But I’m not 65!).
• Avoid ordering mixed drinks and opt for water instead. (Bartender, set ‘em up!).
• Use the public transit system when possible. (Unlocked bikes may qualify as “public transit”).
• Barter with friends. If you can cook, trade your talent with a friend who can change your oil. (Better: See if your buddy will swap a beer for a Snickers).
• Follow the rules of the road. Tickets can be costly and are simple to avoid (Can you get ticketed for no transmission?).

The lesson here is to put yourself in your kid’s place. If you want them to be sensible about money, give them ideas that are “real world” and speak to their lifestyles. Learn how to freeze food? If your child is still working on that, college may not exactly be the right venue for life success.