Before I started college, I continuously saw videos warning about freshmen blowing through money in their first semester in school. My upperclassmen friends came home during breaks complaining about how broke they were, ominously begging me to start saving money as soon as possible – a lot more than I thought I’d need. I was apprehensive, but I diligently set aside the money that I earned over the summer. I couldn’t imagine spending more than a maximum of one or two hundred each month, at most. I’d never been a big spender in high school, so I doubted that anything would change in college. After just about two months at UCLA, here’s a breakdown of what I’ve spent money on during my time here (spoiler alert: I’ve basically proved myself wrong).
My first month at UCLA was actually fairly tame – I didn’t spend a lot of money other than some UCLA merch, a subscription to Notability, a new shirt, and groceries and food. After the one month mark, my spending started to pick up. In my own defense, October was a month of business; it constituted Halloween, a Lorde concert, and football games. Some of these purchases were definitely necessary, like Halloween costumes (I think I did a great job of minimizing how much I spent on those) and groceries. What I hadn’t expected to spend so much money on was experiences. Payments for outings and retreats were things I hadn’t taken into account, and neither was transportation. Maybe I’m just too lazy to try and navigate the public bus system, but some situations just call for an Uber. Overall, I’ve spent more than I would’ve expected – adding up the charges from my bank account definitely made me suck in a deep breath.
So, what caused this big change in my spending habits? Back in high school, I doubt I would have spent what I have so far in an entire year, let alone two months. Independence isn’t free, and I’m still learning how to budget for myself. The first biggest difference is location: I spent my first 17 years in a small town in Connecticut where all there was to do was eat, and now, at UCLA, everything I would want is in such close proximity. Also, in a rural town, there was no need for Uber, whereas social events further away depend on ride shares. Another change is how much freedom I have in making my own financial decisions. I don’t have time to call my mom and ask her if each purchase is worth it. If I’m tempted to purchase dark chocolate peanut butter cups from Trader Joe’s, and I always am, I can pull the trigger. It’s so easy to fall into a habit of cheap purchases without noticing how quickly they pile up. If I keep using my money this way, my bank account will be in the negatives by the end of the year.
I want to improve on my spending moving forward, and here’s how I plan on doing it. I’ve learned where my money goes, and I realize that a lot of it tends to be careless purchases. Rather than falling into my desire to just spend money, I know that I can do a better job of determining whether I really want something, or if I just want to hear the ring of the transaction processing. I don’t regret spending money on friendships and experiences that are priceless to my time in college, so I want to prioritize these as events that truly matter. As of right now, I plan on really regulating my spending to be more intentional and mindful.