Today’s blog post from MintLife is a refreshing piece of advice and one which reminds of something my accounting professor once told me. In the post, blogger Matthew Amster-Burton says:

“Recently a reporter asked me for financial advice for new college graduates. What I came up with was nothing new: the best financial move a new grad can make is to continue living like a college student for as long as they can stand it.”

This is such a reversal of what most college students think that it’s brilliant. As a student, we eat out of the grocery store bargain bin, we have little or no furniture, and every penny is counted and used to it fullest potential. When we’re in college, we are masters of finances. And yet, we spend the entire time dreaming about having real paychecks and what we’ll buy when we finally have a salary.

It turns out, Amster-Burton isn’t blowing smoke here. I heard this same point from an acclaimed accounting professor I once had. I recall an entire lecture he spent on this topic saying, “When you’re a college student, you learn to live like an animal. It’s not until you get real paycheck that you start learning how to waste money.”

Amster-Burton’s post goes on to talk about how our happiness really has nothing to do with the size of our paycheck and the square-footage of our house. It usually comes down to how well we manage what we have.

So if you’re in college, enjoy your frugality and resolve now to never lose that ability to make every penny count. You’ll find yourself happier now and later.

Leave a Reply

Your email address will not be published. Required fields are marked *