When the economy isn't at it's best, it can be hard for college students to budget their money throughout the school year. Although some students receive financial help from their parents, others maintain a seasonal summer job and try saving for the year.
Drew Carfara, a St. Joe's sophmore, has a summer landscaping job where he works full time. With all the money he makes from this job he thought two seperate bank acccounts would be beneficial. When he recieves his paychecks he puts three quarters of his earnings in one account to be saved (although it's not a savings account) and the other quarter is put in another account to be spent freely however he would like.
Even with a summer job, however, his money doesn't last him through two semesters of college, in which case his parents help him out.
"It's kind of like a 50/50 deal." Carfara said. "I make good money over the summer which almost gets me through the first semester, but by the second semester I'm begging my parents for a little bit of money here and there."
Carfara realizes that he spends money that doesn't necessarily need to be spent on things such as going out on the weekends, a shoe obsession, and concert tickets. However, he think that that's what college is all about.
"College is where you figure out how much will power you really have when it comes to money, but at the same time, you're supposed to be going out and having fun." Carfara said.
This upcoming summer Carfara plans to attain the same job, landscaping with his father, but also realizes that with such a bad economy his pay rate can change and have a negative affect on next school years spending.
"Yeah, sometimes things getting a little hectic over the summer depending on the demand, so next year I may have to go without a few pairs of shoes." Carfara said with a laugh.
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