<p>I have $1,300 in the bank... </p>
<p>Should I get a job at Publix this summer or not? I'm leaning towards no...</p>
<p>yes you should. 1,300 is not a lot of money</p>
<p>how is that not a lot of money? I'm going to school in south Georgia...</p>
<p>its just for entertainment money, spending money, etc</p>
<p>More money is better than less money. What are you gonna do with free time otherwise? I have $2000 stowed away right now and another ~$2000 floundering in the stock market and I need a job..</p>
<p>you think 1300 is a lot lol! Give me a break, I'm hoping to make 4k saved up this summer.. and I still dont know if that is enough! Living on your own is a lot more expensive than you might think. I'll admit no one likes 50 hour work weeks.. but you gotta do what you gotta do.</p>
<p>Enjoy your summer, don't work! You can get a part time job on campus if you need extra cash. Or you could get a credit card with your parents as co-signers.</p>
<p>What are you going to do all summer if you don't work?</p>
<p>Better to work in the summer when there aren't any other pressures on you. You'll still find time to relax, and the nest egg you build up will be good beer and pizza money during the school year.</p>
<p>Work, unless the alternative is an internship. You'll still have plenty of free time and will appreciate the extra money later.</p>
<p>
[quote]
you think 1300 is a lot lol! Give me a break, I'm hoping to make 4k saved up this summer.. and I still dont know if that is enough! Living on your own is a lot more expensive than you might think. I'll admit no one likes 50 hour work weeks.. but you gotta do what you gotta do.
[/quote]
</p>
<p>Well...if you are excluding college expenses (student fees/tuition, residence, and books) and do not have any sort of required meal plan, you can be fairly creative....posibly. Lets do some math (i'm bored and don't want to go to bed just yet...)</p>
<p>Live off Ramen:
$.10 * 3 packs per day * 365 days in a year = $109.5
Water = Free
Entertainment: library, walking, learning, leeching off of others internet access, etc. etc. = Free</p>
<p>So, you can realistically live for a whole year (excluding residence and tuition) for only $109.50.</p>
<p>With $1,300 that leaves you with $1,190.50 for any misc. entertainment if need be. Better yet, invest it all for the year in a CD with maybe 4% interest compounded quarterly and you have:
P = $1,190.50(1+(.04/4))^(4*.04) = $1192.39, a profit of $1.89 (I think I did something wrong...). However, at $.30 a day for food, you got back almost a week's worth of meals!</p>
<p>:-)</p>
<p>EDIT: Will I be working this summer? Yup. I do freelance, so I'm all set for a Summer of sitting in front of my computer in the mornings working and going off roller blading in the afternoons. :)</p>
<p>Ooops i think you're looking for [$1,190.50(1+(.04/4))^(4)] <-it's being compounded 4 times.</p>
<p>That gives you a much more respectable $1238.84 which is $48.34 of profit! nearly half your yearly budget! I'll be damned if i leave $1000 lying around in a CD and only get $2 of interest...</p>
<p>"Live off Ramen:
$.10 * 3 packs per day * 365 days in a year = $109.5
Water = Free
Entertainment: library, walking, learning, leeching off of others internet access, etc. etc. = Free"</p>
<p>I don't know what kind of world you are living in... but if you think this is going to be your life in college you are either</p>
<ol>
<li>having completely unrealistic expectations</li>
<li>limiting yourself a lot of good times and people to meet</li>
</ol>
<p>
[quote]
Ooops i think you're looking for [$1,190.50(1+(.04/4))^(4)] <-it's being compounded 4 times.</p>
<p>That gives you a much more respectable $1238.84 which is $48.34 of profit! nearly half your yearly budget! I'll be damned if i leave $1000 lying around in a CD and only get $2 of interest...
[/quote]
Ah, thanks. Though something was wrong there. Looked it up this time:
A = P ( 1 + r/n )^nt</p>
<p>Guess I was thinking t was r in my mind for some strange wacky reason >_<</p>
<p>Really though, if you were willing to live off ramen for a year plus you worked all year and invested all your money or even just stuck it in a low-interest bank account....think of the possibilities!</p>
<p>Living off ramen? You'll be very unhappy and unhealthy. I'd rather work during the summer than do that.</p>
<p>Only you can decide if $1,300 is enough. Off the top of my head, here are some hidden expenses you should think of: going out to restaurants for friend's birthdays, toiletries and hygiene products, winter clothes or even buying a couple new shirts, Christmas or holiday presents for your family, habits you may have like Starbucks or soda or even buying bottles water, things that you realize you want for your dorm room for organization or decoration, computer software that would make your life easier, subscription to Netflix, etc.</p>
<p>I think you could likely do it on $1,300, but would then want additional money for the second semester. Also, you may want to travel a bit. I did tons of roadtrips in college, trips for spring break, etc. They weren't expensive, but a couple hundred dollars can drop your savings down a lot.</p>
<p>What about working a little this summer, and a few hours a week during the year? It would be the best of both worlds and you could build up some savings in case you wanted to take an unpaid opportunity next summer.</p>
<p>Also, I assumed you would have a meal plan. Ramen is bad for you!</p>
<p>all i can say is: inflation, inflation, inflation! At the rate we're going, due to high gas prices, and even groceries inflating, $1300 won't be worth much in the next 20 years.</p>
<p>i dont think hes worried about inflation.. hes wondering if it will be enough for the year.. and it wont! How do you expect to take a girl out, go to the bar... have ANY FUN?! Unless you are some sort of loser hermit who doesn't plan to meet people you will have to work.</p>
<p>I think you would have serious health concerns living off of ramen for every single meal. By ramen, I assume you mean the instant noodles sold in the USA. Look at the Nutritional Chart:
Instant noodles (raw)
Nutritional value per 100 g (3.5 oz)
Energy 450 kcal 1900 kJ
Carbohydrates 65 g
- Dietary fiber 2.4 g<br>
Fat 17 g
- saturated 7.6 g
- monounsaturated 6.5 g<br>
Protein 9 g
Thiamin (Vit. B1) 0.7 mg 54%
Riboflavin (Vit. B2) 0.4 mg 27%
Niacin (Vit. B3) 5.4 mg 36%
Folate (Vit. B9) 147 μg 37%
Iron 4.3 mg 34%
Potassium 120 mg 3%
Sodium 1160 mg 77%</p>
<p>One package is 80 g
Percentages are relative to US
recommendations for adults.
Source: usda</p>
<p>If I were you, I would get a job and earn more money. $1300 can go very quickly.</p>
<p>
[quote]
all i can say is: inflation, inflation, inflation! At the rate we're going, due to high gas prices, and even groceries inflating, $1300 won't be worth much in the next 20 years.
[/quote]
</p>
<p>ROFLMAO! :></p>
<p>for people who are already in college, how much money do you spend things other than tuition, board, etc.? (parties, clothes, road trips, dates, toiletries, etc.)?</p>
<p>I know I spend more than some people, but I've probably spend about 2000/year on parties, clothes, dates, food (aside from meal plan) gas, etc</p>