The instability of the economy has been hurting the wallets of consumers nationwide. Whether it’s skyrocketing gas prices or the increasing cost of food, many have been cutting as many corners as possible, and it’s no different for students. While the wavering economy has caused some students to cut back on frivolous spending, others have continued to spend regardless of the economy’s unstable state.As a whole, many students spend much of their money on shopping and food, and it has shown in their wallets. Though most students who live on campus have a meal plan, the temptation of going out to eat can outweigh saving money at the dining halls. “I’ve tried to go out to eat less and shop less this year,” said Elizabeth Woloszczuk, sophomore in biology. Woloszczuk said last year she had a meal plan but opted to go out to eat more. “I hated the dining hall food and I didn’t want Atrium food all the time,” said Woloszczuk. Many students like Woloszczuk desire more variety than campus dining halls provide and still spend on going out to eat. “I think overall I’m spending less money eating out then I did on a meal plan.” Woloszszuk works in her parent’s restaurant on the weekends and she said it helps that she can eat there for free.Freshman in management Laura Pearson said she knows she should be budgeting more, but still continues to spend. “I haven’t changed my spending at all but I feel guilty about it, like I know I should be budgeting.” Pearson said that she is shopping just as much but doesn’t spend so much on food because of her meal plan. “However, I do enjoy purchasing chai tea frequently from the library.”Other students, however, are making a conscious effort to save. Kimberly Spence, sophomore in biology, said that altering her spending hasn’t been much of an issue since she doesn’t spend a lot to begin with. “I live on campus so it has not really been difficult for me.” Spence also participated in a Park Scholars trip to Washington D.C. the student the current implications of the national debt. “It was startling to hear from the experts in federal finances that they have rarely seen this big of a problem,” said Spence. “The absolutely has to be a change soon.”Another major cost for students is gas. Gas prices greatly affect students living on and off campus. Lisa Moll, sophomore in materials science and engineering, said increased gas prices keep her from having a car on campus. “It would be impossible to support myself,” said Moll. Moll also said that she tries to be cautious about how she spends her money and has found a new love for the many coupon booklets found around campus. Woloszczuk said she is also trying to cut back on driving. She said that she tries to walk more if its close to save money on gas. “It’s just so expensive,” said Woloszszuk.Aaron Ledford, freshman in zoology, also said that gas is where most of his money goes. “Putting gas in my car to go to work is what I spend the most on, but work is only ten minutes away so it doesn’t cost that much,” said Ledford.
Economy impacts spending decisions
By Cheyenne Autry
Deputy Features Editor
Deputy Features Editor
October 12, 2008