Cheran Davis works two jobs — DSW Shoes and the Office of Supportive Services — just to earn the money to pay her monthly rent at Oakbrook Manor Apartments.
The interdisciplinary studies in social science senior said that sometimes that’s just not enough.
“Depending on your pay period you can come up short sometimes,” Davis said.
When you move off campus, your lifestyle changes.
The trips to the cafeteria cease and mom’s infamous quote, “you’re on your own for dinner,” is not once a week but a daily reality.
The one lump sum you paid online a few times a semester turns into a stack of white envelopes on the kitchen table for rent and utility bills.
Erica Hughes said she was anxious to move off campus her sophomore year.
“I have more pocket money now that I’m not paying room and board,” she said.
The communication senior received a refund check from the university before she moved to Ashton Lake Apartments this school year — which would have otherwise covered room and board if she lived on campus.
According to the MSU housing calculator, an in-state freshman or sophomore living in a double room on campus with a silver meal plan will spend about $3,338 per semester for housing.
However, a junior or senior living in a basic one bedroom university apartment will spend about $2,348 per semester on housing.
A professor’s advice
But if you take the advice of personal finance course instructor Pamela Boyce, you may be on your way to saving a lot more money than MSU calculates.
Boyce suggests that when students move off campus they should take care of the bills with a fixed cost first — including rent, insurance and car payments.
Boyce estimates that the second largest bill will be food costs, which she said students tend to pay very little attention to when creating a budget for living off campus.
“Fast food is the wrong thing to do,” she said.
“Its a lot more expensive, and it’s detrimental to your body and weight.”
Boyce and Davis both agree the key to managing your money well is shying away from buying things you don’t need.
Boyce said to consider variables such as bottled water versus tap water or everyday brand shampoo as opposed to salon shampoo, and decide which one will save more money.
Food options
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Hughes said her monthly grocery bill is covered by a Bridge Card she received from the Ingham County Department of Human Services, 5303 S. Cedar in Lansing, which allows her to spend $150 a month.
But she said the only advantage she misses from living on campus is access to the cafeterias with a student meal plan.
“Sometimes I can’t just stop in the cafe between classes for lunch,” she said.
Davis said she avoids this problem by packing a lunch.
Making the decision to move off campus comes with a load of new responsibilities and whether you find it cheaper or more expensive, the ability to manage your money is the key to financial survival.
