Tahlequah Daily Press

Features

August 29, 2013

Budgeting key for college students

TAHLEQUAH — srowley@tahlequahdailypress.com

Students attending college expect to learn life skills to use during their careers, but regardless of their aspirations, they’ll all need to learn how to manage their money.

Failure to budget can result in deep debt, ruined credit ratings and bankruptcies. College students can find themselves in a bit of a limbo between living with the parents and being independent with careesr.

“I am an athlete, so I cannot have a job while I’m going to school,” said Red Walker, a Northeastern State University student from Sand Springs.

“I’m always dealing with a lack of funds. I also don’t know all the details I need to know concerning my student loans. I need to go visit financial aid.”

For a college student, the temptations to overspend are myriad - meals, parties, tech gadgets, a nice car. But buying anything begins with a budget, and a budget begins with determining income and expenditure.

Expenses should be categorized between those that are firm, like rent; those that can vary, like utilities; and those over which the student can exert some direct control, such as food or clothing purchases.

“My problem is, I like to go out to eat a lot,” said Kendall Stavely, an NSU sophomore from Sallisaw. “On a college budget, you can’t do that. When I do go out, I eat of the kids’ menu. It works. It saves money.”

Finally, a student should put some money away to guard against a fourth category of expense: the unexpected. Socking away even $40 a month can keep a flat tire from blowing out a budget.

When budgeting, students may be tempted to establish a line of credit. Many have mixed feelings about doing so.

“I don’t have any credit cards, and I think that is a good idea,” said Elizabeth Cotrill, an NSU sophomore from Jay. “I also make sure there is a certain amount of money in my checking account. When I hit it, I cut off.”

Maddie Mayhan of Sand Springs, an NSU sophomore, said she has credit cards.

“You have to keep an eye on them,” she said. “They can be a pitfall.”

Some companies that furnish credit cards target college students, and there are horror stories about people graduating with tens of thousands of dollars in credit card debt. But establishing a credit history while in college can be desirable, and a checking account and credit card are excellent methods of doing so.

Budgeting is also the secret to a well-maintained checking account. Students should apply for credit cards with low, fixed-interest rates and low spending limits. It is difficult to abuse a ceiling of $500, $700 or $1,000.

The card should be used with the intent of paying the full balance on the next billing statement. If one cannot pay the full balance, always pay more than the minimum.

Sending minimum amounts can result in years of repayment on even small debts.

Students seeking advice on budgeting and finance can visit oklahomamoneymatters.org. Oklahoma Money Matters is a personal finance education program for students.

1
Text Only
Features
  • wherearethey.jpg Padilla enjoys reconnecting with childhood

    As a child spending time at her grandparents’ house, with all her aunts, uncles, and cousins around her, Kerrie (Bosley) Padilla spent endless hours outside playing chase, catching fireflies, or writing and acting out plays.
    In 1987, after her dad got out of the Navy, the family moved here from Georgia to be closer to that family: matriarch Dorothy Monzingo, and maternal grandparents Dorothy and Dwight Allen. Her parents, DeAnna and Steve Edwards – as well as a couple of siblings and some aunts, uncles and cousins – still live here.
    Eventually, Padilla graduated from Northeastern State University, and then its College of Optometry.

    April 22, 2014 1 Photo

  • rf-Dream1.jpg Dream Theatre spotlights songwriters

    Dreams can come true for local aspiring songwriters who seek to gain performance experience.
    For one young musician, Thursday night was an unexpected dream of discovery, as well.
    Two opportunities are available to musicians at the Dream Theatre each month, the new Songwriters’ Showcase which opened Thursday night and Premier Night for musicians who have a few songs or a set, but not a whole show.
    In search of the groove that works for The Dream, Manager Larry Clark is partnering with Blake Turner, Lakes Country operation manager.
    The Songwriters’ Showcase, which will continue the third Thursday of the month in conjunction with Tahlequah Main Street Association’s Third Thursday Art Walk downtown, features seasoned performers who can share some of their personal insights into the how, when and why of their songwriting experiences.

    April 21, 2014 2 Photos

  • Dream, Brewdog’s to host music festivals

    One sign of spring’s arrival is the scheduling of music festivals, and 10 bands will visit a Tahlequah venue May 24, the Saturday before Memorial Day.

    April 17, 2014

  • rf-Zoe-thing.jpg Conference attendees get words of encouragement

    Words of encouragement and door prizes were bountiful Saturday morning at the annual Zoë Institute’s Women’s Conference.
    Ten women shared words of wisdom in areas from happiness to health, and 100 gifts were given out, including the grand prize of gasoline for a year.

    April 16, 2014 1 Photo

  • sp-symposium-art-panel.jpg Panelists discuss impact of Southeastern art

    Until recently, most people had a certain expectation of American Indian art – and it didn’t include images familiar to people in and around Cherokee County.
    “A lot of times, when people think about Native art, they immediately think of Plains art or Southwestern art,” said Roy Boney (Cherokee), Tahlequah artist and moderator of the panel discussion “Southeastern Indian Art: Building Community and Raising Awareness,” held Friday, April 11, at the NSU Symposium on the American Indian.
    Boney and the other panelists are frustrated by the divide between mainstream expectations of Native American art and their need for genuine self-expression.

    April 15, 2014 1 Photo

  • rf-Teacher.jpg Dickerson believes in putting the student first

    As a child growing up in Elk City, Cherokee Elementary teacher Debra Dickerson lined up the neighborhood children and animals to play school.
    “I’ve been a teacher ever since I could talk. My mother always said she knew where I was because she could hear me bossing everyone,” she said.
    The classroom then was a blanket tossed over limbs of her big cherry tree on Eisenhower Street. Recess was spent tree-climbing, running, riding in the bus (her red wagon) and being creative.
    “Those were the days before video games and TV,” she said.
    Dickerson, 2013-’14 Cherokee Elementary Teacher of the Year, believes a classroom should be a safe haven for children, because school is often the best part of their day.

    April 15, 2014 1 Photo

  • kh-trash-pickup.jpg Cleaning things up

    Lowrey was part of the Cherokee Nation’s Career Service Center contingency of 11 volunteers. Other volunteers cleaned up trash along the roadway from the Cherokee Casino to the NSU campus.

    April 15, 2014 1 Photo

  • SR-NinthAmendment.jpg Right to privacy leans partly on Article 9

    While the other articles of the U.S. Constitution’s Bill of Rights are straightforward – at least, enough for Americans to bicker over in court – the Ninth Amendment might cause a bit of confusion.
    It reads: “The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.”
    There are no rights enumerated, and it might be difficult to argue one’s Ninth Amendment rights in court, though it has been done successfully.

    April 14, 2014 1 Photo

  • stickball-2.jpg Stickball

    The American Indian Science and Engineering Society and Native American Student Associationat Northeastern State University hosted a traditional stickball game as part of closing cultural activities during the 42nd annual Symposium on the American Indian Friday. Participants included, from left: Nathan Wolf, Disosdi Elk and Chris Smith.

    April 14, 2014 1 Photo

  • green-bldng.jpg City council to discuss ‘green building’

    Tahlequah City Council will hold a special meeting Friday, April 11, at 5:30 p.m. to discuss, among other items, applying grant money to renovate the city’s “green building” at the corner of Water and Morgan, near Norris Park.

    April 11, 2014 1 Photo

Poll

How confident are you that the immunizations for infants and children are reasonably safe?

Not at all confident.
Somewhat confident.
Relatively confident.
Extremely confident.
undecided.
     View Results
Tahlequah Daily Press Twitter
Follow us on twitter
AP Video
U.S. Paratroopers in Poland, Amid Ukraine Crisis US Reviews Clemency for Certain Inmates Raw: Violence Erupts in Rio Near Olympic Venue Raw: Deadly Bombing in Egypt Raw: What's Inside a Commercial Jet Wheel Well Raw: Obama Arrives in Japan for State Visit Raw: Anti-Obama Activists Fight Manila Police Motels Near Disney Fighting Homeless Problem Michigan Man Sees Thanks to 'bionic Eye' Obama to Oso: We'll Be Here As Long As It Takes Bon Jovi Helps Open Low-income Housing in Philly S.C. Man Apologizes for Naked Walk in Wal-Mart New Country Music Hall of Fame Inductees Named 'Piles' of Bodies in South Sudan Slaughter SCOTUS Hears Tv-over-Internet Case Chief Mate: Crew Told to Escape After Passengers
Stocks