Kenn said:
Shouldn't you spend the financial aid money on something educational?
Whether it's an income tax return or a financial aid check, some people just see it as free money that it doesn't matter how they spend it, spending responsibly or saving it just doesn't occur as an option. Not saying that's true of the OP, just saying I see that
a lot. (I work at a school)
A few people I know use their income tax return as a sort of forced savings account, where they get a little windfall once a year they give themselves permission to use for something gratifying, an exemption from responsible spending, a once-a-year treat. I suppose that's reasonable, especially if you (or your partner) lacks the willpower to save up and budget for such things.
But students, I think they should be thinking much more long-term. They're going to be leaving school with some amount of debt, and every time they blow a wad of cash that's "burning a hole in their pocket" (such as a financial aid check) they're just digging a deeper hole they're going to get tossed into the day they graduate. It's easy to say "hey it's been a hard year and I haven't had a break, I deserve this!" Maybe they're right. But it's just delaying the hard times, and lumping them all together in a growing pile that someday is going to have to be suffered through. I'm not fully for
or against it, I just think people need to consider the situation they're in, and act responsibly. Maybe some years it
is time to get a different car. Maybe other years it's better to set aside a portion of that money into a savings account, and spend the rest on a "financial vacation" as a reward for doing well so far. (so few students have a savings account, because they spend
any surplus they have, every single month) Or if times aren't too hard, spend 100% of that money on what you really need or to savings. Life's
going to be rough for awhile when you graduate. Just
how rough it is depends inversely on how rough it was during school. The more you tough it out now, the easier it will be later, and you'll be thankful. But that can be hard to see, and even more difficult to beleieve. "It can't possibly be worse than it is
now!" - ooooooh yes it can my friend!
Owell I suppose that was a little bit of a rant. But speaking from prior experience, and current observation - I'm not armchair-quarterbacking. If you're reading this and thinking I don't know what I'm talking about and you've got it all figured out and the partying and unnecessary spending will be fine if you just can make ends meet till the day you graduate, you're going to have a rude surprise waiting for you and there's probably nothing anyone can do to help you avoid it. So enjoy it while it lasts, and get ready to buckle up because it's going to be a rough ride down the road.
I like that... "let yesterday become your secret ally"
