Living Off the College Mean

Posted on 12. Oct, 2009 by Dave in Uncategorized

Oh so true!!!My best financial days and my toughest financial days came at the same point in my life. I was frugal as the low income called for, but always seemed to be broke. I did everything possible not to waste a dime, but bought $5 bottles of beer at the clubs and bars. So, maybe that is hypocritical, but the mindset I established minus the partying and drinking was awesome financially.

Then the worst thing that could have happened, happened. I got a 9-5 that paid half decent and started making real paychecks. Real as in more money than I needed. That’s where it all went downhill.

Looking back, I think the worst thing probably wasn’t making more money. The worst thing was that I had been so frugal for so long that I felt I “earned” the right to spend. For those of you who think I am brilliant (thanks mom), I am not. Obviously, I hadn’t “earned” any right to spend more. If anything I earned the right to spend less, invest more, and save a lot more. Unfortunately, I was a young 20-something (still am) and made stupid financial mistakes (still do).

Back when I worked at my cubicle 9-5, I would sit there wandering the internet in between phone calls, computer work, meetings, and so on. While wandering the internet I would somehow, someway spend about $20 on average a day on purchases. Whether it be through Amazon, eBay, or races, I always found a way to spend a little bit of my income at work on the daily. That money easily could have maxed out my 401k or Roth IRA. Did it? Nope. It went straight towards bar tabs and race sign up’s.

The income and responsibilities I had while working full time and going to school full time called for constant analysis of every penny spent. That allowed me to pay for college while there, move out of my parents, travel a little internationally, and have a decent college life. I was always stressed over money. I don’t suggest carrying that stress today, but having that financial focus from while in college is great throughout life.

What I really wish I would have done and now somewhat apply is living off the college means. I try to minimalize spending and then try to minimalize my minimalized spending. Unfortunately, I work out and food is the ultimate killer on the pocketbook, but I make up for it in other aspects. I try not to buy anything new that I could find used and I try to enjoy the simplistic and minimalist aspect of not having stuff. Living off the college means isn’t that bad really. What we really think of as bad were the horrible diets, sleepless nights, endless responsibilities that came with our college life.

Sure, living off the college means is not what you were looking forward to once out of college. But by doing so, you may allow yourself to have the security and opportunities that were not allowed while in school. Break the social expectation barrier and living off the college mean will not be the end of you. If anything, it will be the beginning of the life you really have wanted all along.

Dave Damron
LifeExcursion

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11 Responses to “Living Off the College Mean”

  1. Gordie Rogers

    12. Oct, 2009

    I found also that when I was working full-time I was saving less than I do now only working 10 hours a week.
    Gordie Rogers´s last blog ..How To Develop Persistence. My ComLuv Profile

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    • Dave

      12. Oct, 2009

      I hear ya Gordie. I not only spent a lot of money going to and from, on attire, food, etc on work, I wasted a lot of money too. I seem to follow my finances better when I can focus on my and not someone else’s priorities

      Dave Damron
      LifeExcursion

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  2. Robert

    12. Oct, 2009

    Thanks for this post! I remember reading so many of similar ones in my life and it’s the only reason why once I was out of college, I actually starting putting money away at my first out of college job. I can’t really say that it’s made a huge impact on my lifestyle now, but I certainly feel secure in my fiscal decisions with a growing IRA, emergency fund and trying to live off %60 of my income. I know it will continue to pay off as time ticks by, I can’t help but to be more interested in ways to accelerate income at this point!

    -r
    Robert´s last blog ..How to Reboot your Brain and Regain Life Control My ComLuv Profile

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    • Dave

      12. Oct, 2009

      It never hurts to put money away. That’s how I see it. Emergency’s happen. Your story sounds like one I wish I would have read right after college. Thanks for sharing Robert

      Dave Damron
      LifeExcursion

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  3. Karen

    12. Oct, 2009

    I read somewhere (I can’t remember where…) that you always think you need 7% more than you have. I’ve been recently adjusting to a more steady paycheck, but with larger paychecks comes that thinking of “I deserve this”. So interesting that you wrote this, because as I was getting a pedicure this pm, I was thinking exactly that.

    But, the reality is that I deserve to be financially responsible, not constantly stressed about money. Excellent points.
    :)
    Karen´s last blog ..Go ahead. Just Run Through the Fountain. My ComLuv Profile

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    • Dave

      12. Oct, 2009

      Glad you are taking this thought process to heart and implementing. Try to live on the basics and security will come.

      Dave
      LifeExcursion

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  4. Ken Kurosawa

    12. Oct, 2009

    Only if I saved a lot more during my early college career…
    Thinking in the minimalist mindset has really made it easier for me to save than when I was in full consumer mode. Not just that, I actually feel like I have more!
    Ken Kurosawa´s last blog ..How to Increase Your Reading Speed and Retention My ComLuv Profile

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  5. Sarah

    13. Oct, 2009

    I spend all day doing things I’d rather not do at work…
    Then at the end of the day I think “I deserve to enjoy myself” and that results in excess material posessions, beauty treatments, food, alcohol, television watching, you name it…
    It would probably be easier to not work in the first place. But I do need to keep a roof over my head and – of course – now I have debt.

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  6. Nathan

    14. Oct, 2009

    I’m currently in the last year of undergrad and I’m finally starting to figure all this money management stuff out. I’m really focused on maintaining a high quality of life while spending as much or just slightly more than the bare minimum. I definitely fall prey to that “i deserve to splurge” thing every now and then but I’m getting a lot better at preventing it and dealing with it when it comes up.

    Also, I really like how you have the most recent post from someone’s blog posted. How did you add that? Plugin?

    Nathan
    Nathan´s last blog ..Productivity Tips and Free Time Management: How to Create a System That Works For You My ComLuv Profile

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    • Dave

      14. Oct, 2009

      Hey Nathan—

      I wish I was as smart as you are when I was in college. It is all about money-management. If you can do that, you can do anything, We all fall off the horse here and there, but as long as we get back on, there is nothing to worry about.

      For that plugin, google ‘commentluv’ or ‘comluv’

      Thanks for commenting

      Dave Damron
      LifeExcursion

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