As a college student, diligently tending to your finances can yield big rewards even over a short period of time.
That’s a lesson that Quinton Stroud, The Famuan’s $1500 Student Budget Challenger, will discover.
Stroud, 20, a junior health science student from Fountain Inn, S.C., will live off of a $1,500 budget for 13 weeks of the fall semester.
“I accepted the challenge because I wanted to plant the right seeds for my financial future,” said Stroud.
In his first year living off-campus, Stroud has already seen the strains on his pocket.
“I ate out every day during the first week and I ended up spending about $80. I hope this budget will make me more disciplined with my money.”
According to Deep Underground Credit Knowledge 9 www.duck9.com the average disposable income per student is $17,000.
Students like Cara Aska, 22, a senior elementary education student, can agree with the staggering amount and attributed it to impulse buying.
“As a college student, if you get hungry, you whip into the drive-thru and whip out your debit card,” the Tampa native laughed. ” You don’t think about ‘Oh let me make sure it’s in my budget.'”
Ashlei Hudson, 22, a senior nursing student from Myrtle Beach, S.C., agrees.
“Most students view budgets as an inconvenience rather than a resourceful tool that can help them with financial security,” said Hudson.
Stroud, who is a National Merit scholar and a full-scholarship recipient, also works for the judicial branch of the Student Government Association as an associate justice bringing in $482 for the semester.
“I’m thinking about picking up another job to offset some of my entertainment expenses,” said Stroud.
“Quinton can handle it,” said Omari Crawford, 22, a graduate public administration student from Atlanta. As members of the Upsilon Psi Chapter of Omega Psi Phi Fraternity, Inc., Crawford said that Stroud displays perseverance and will be up for the challenge.
With the temptations of Homecoming events and late night “study” snacks, Stroud has a challenge ahead of him.
“I see myself going through a rough period as I transition into the budget, but after that, my gut tells me I’m going to be fine.”