The real world costs money
Having a balanced budget is a must for college graduates on their own
"It's easy to think that you have more money than you actually do."
By Jeff Frost Special to the Kansan
Ellen Starmann finally made it through college and was ready to live on her own in the real world. She experienced what many recent graduates know only too well as tight times.
Starmann, a 1992 KU graduate, had this advice for graduates entering the real world for the first time.
Ellen Starmann 1992 Kansasgraduate
Student's shelves are usually stocked with long-shelf-life-fast-and-easy-to-make foods.
"Make sure that you keep an updated checkbook," Starmann said. "It's easy to think that you have more money than you actually do. Also, make sure that you know what the majority of your expenses are going towards. It sounds simple, but it's very important."
William Alix/ KANSAN foods
Besides rent, one of the biggest expenditures for people living on their own is food. This cost can be cut by simply watching what you buy and by cutting coupons. One way people living on their own can get the most for their dollar is to buy items in bulk. Bulk items are available at places such as Sam's Wholesale Club, where people can purchase anything from giant-sized boxes of cereal to multi-pack boxes of ramen noodles.
Another area that can have a significant impact in the economizing process is clothing. Buying clothes secondhand at a garage
sale or the Salvation Army will keep costs down.
Betty Currie, instructor of home economics and young adult world at Lawrence High School, said this was a smart way for cutting expenses.
"I would advise to take advantage of garage sales, and to search the newspapers to find all of the coupons you possibly can," Currie said. "From my own experience I can remember changing my diet to cut costs. I ate a lot of rice and eggs."
One avenue to avoid when watching one's budget is getting a loan. Many graduates see this as a way to get cash quickly. However, the burden of paying back the loan
can make things worse off than before. If people living on their own find that they can'tmake the payments, they can a call the Consumer Credit Counseling Service, 1012 Massachusetts St.
Roger Randel, a public liaison at the service, said the first thing a person with payment problems should do was contact the bank that gave out the loan.
"You should always be honest and upfront with them regarding your ability to
pay," Randel said. "The next step is to call one of the various agencies that can help you pay back the loan — such as Smart Loan or Network. These agencies can help by tailoring the payments, so they start out lower and increase over the life of the loan."
One pitfall for those tightening their budget is owning a car. If one can find other means of transportation such as a bus, train or bicycle, the costs of car insurance, gasoline and maintenance can be avoided.
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GRADUATION • THE UNIVERSITY DAJLY KANSAN • May 2,1994