Ways Students Can Save Money and an Odd One
If one would like to reap a degree from a reputable university without drowning in debt, how does he deal?
Usual tips on how to save while trying to earn that diploma include scrimping on keg parties and even earn some extra moolah from them, borrowing, buying used or swapping books instead of buying new ones, and riding a bike to school instead of a car (ok, scratch that tip, I just might have been watching too many Korean soap operas).
According to reports, UK students accumulate an average debt of 11,345 pounds at graduation. So, what are the options to avoid getting into that much debt? UK students are learning to work out this College debt dilemma. How? By staying with their parents longer.
As opposed to 11,345 pounds, those who stay at home can only accumulate an average of $9,418 pounds worth of debt. However, reducing College education is not without compromises. Although living with parents while earning that College degree comes with the advantages of not going through the trouble of moving, cheaper accommodation, and a cozier environment, the following cons can’t be avoided if one chooses to stay at home:
- course choice restriction
- less independence
- not experiencing a wider social circle from living with other university students
Getting to know the pros and cons of this deal to avoid too much education debt is not the end of it. Here are some tips on how to avoid the problems:
- Respect that it is your parents’ home. Be aware of the needs of other family members and considerate of their wishes.
- Acknowledge that your parents are helping you by continuing to put a roof over your head at a time when many of your contemporaries are having to make their own domestic arrangements.
- Accept that you cannot live like the archetypal student (ignoring the washing up and the rubbish).
- Sit down together in a relaxed environment and have an open conversation about what changes are needed if you’re to live happily together as adults in this new chapter in your lives.
- Give your parents a night of privacy every so often.
- via Evening Post
Now if you don’t want undergo all that seemingly troublesome arrangement, you might want to try this money-saving method that one Harvard student has employed:
“I didn’t go to a hair dresser for two years. I cut my hair only in the last week of my stay at Harvard, because, I was afraid, my mother would have been shocked to see my hair flowing down to my shoulder or even below,” - The Financial Express
(image from iparenting.com)
Tags: college-debt, college-education, financial-management, frugality, money, saving-money, staying-with-parents, tipsRelated Stories
POSTED IN: Finances, General, Simpler Thinking
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