When it comes to off-campus living, which sex is the superior one? The Daily's Features section took numerous polls and even held two battles (see tomorrow's and Wednesday's papers) in an effort to examine the prowess of upperclassmen living off the Hill. Today's article centers on money management, one of the four topics investigated.
A Tufts student takes a break between classes in the third story of the campus center. Shifting through songs on his $399 iPod, he uses his matching $2,499 Mac PowerBook G4 to check the delivery status of his newest shipment of Brooks Brothers oxford-cloth button-ups ($75 each), simultaneously calling his suitemate with his $499 Motorola Razr phone to ask about lunch. Although this profile may not apply to the majority of Tufts students, it is not an unlikely one. With college students buying new technological gadgets as quickly as Apple can make them, the starving student seems to be a thing of the past. "I see students as a little more extravagant, in the consumer spending mode," said Tufts alumna Maureen Sakakeeny (E '84). "They didn't have iPods when I went to Tufts, but if they had, I wouldn't have owned one." "Most of the kids I knew in college came from bigger backgrounds than I did," said Tufts Medical School alumnus Rob Dretler (M '78). "It's probably the same for working-class students today, but probably even harder now. "Elite schools now are much more divided," he added. "The cost of tuition when I went to Tufts was $3,500 a year. Now, [if your parents can't afford to pay for it], you're looking at a debt that could buy a house." Though the spending habits of Tufts students span a great range, managing a budget generally becomes even more difficult for students when they move off-campus. Not only are students responsible for keeping track of book and party costs, budgets are complicated by the cost of meals, utilities and incidentals such as toilet paper: If your IBM Thinkpad cost $2,000, how are you supposed to have money left over for dish soap? "Bills really suck," senior Brian Potskowski said. "You get like 100 of them." The heating bill has proved to be a common point of contention among Tufts students of both sexes living off-campus. "The sticker shock of the heating bill can be pretty rough," senior Michael Sparandara said. "When the winter comes, try to have an understanding about the heat," senior Mark Sigal said. "Some people turn up the heat, some just put a sweater on." Potskowski and his housemates attempted to cut some corners to lower costs. "We just bought all of this plastic to put over the windows, to cut down on the heating bill," he said. "But we haven't actually put it up yet. It's still sitting in the middle of the living room in big boxes. Yes, in February." By the time students move off campus, most are nearing the age of 21 and are more likely to spend free time at off-campus events, further stretching their budgets. According to a national poll conducted by Tutor2u, an organization "supporting teachers and inspiring students," expenditure on non-essential items such as non-course-related travel, entertainment, clothes and consumer goods by college students under the age of 26 has increased by 25 percent since 1994. Students agree that once they start going "out on the town" - as opposed to enjoying free entertainment offered at venues like on-campus frat houses - things can get expensive. "Since we're 21 now, I think we spend a lot more because we don't go to frats where there is free beer," senior Mary Humphreys said. "We go out to dinner and end up spending a lot of money on dinner and drinks." "I've spent a lot more money this past year than I did as an underclassman," senior Therese Corsello said. "But there are ways to cut costs. My friends and I try to get guys to buy us drinks at the bar, and when that doesn't work, there's always the flask in my purse." It is more unlikely for females to buy males a drink while partying at a club or bar. Sigal reports that his extracurricular spending averages about $30 for a night out at the bars. (That number goes up if he ends up "splurging on drinks for people.") Fellow senior Lionel Yarmon reports that when he goes out, given the costs of taxis, drinks and cover charges, he spends anywhere from $15-$70 per night, "depending on how crazy it gets." The off-campus students interviewed reported spending an average of about $75 a week on groceries (for those without meal plans), $30 a week on entertainment, $25 a week on utilities and $10 a week on incidentals. This was calculated barring any splurges or emergencies that might occur. Humphreys suggests planning ahead when it comes to finances. "People have to learn how to prioritize their spending," she said. "Before every month you need to set aside a plan for how much money you can spend on alcohol, food, school supplies and various other spending, and adhere to it pretty firmly or else you will find yourself in a bind at the end." "Setting a budget is really helpful," Corsello added. "With the leftover money, you can always go splurge at the mall." Shopping is a luxury that (unsurprisingly) seems to get girls in trouble more often than it does guys. "I want to look good when I go out," Corsello said. "All a guy has to do is buy a new shirt now and then. Girls have to buy all new outfits... not to mention shoes and makeup." In general, however, students today seem to be spending a significantly larger amount of money than previous generations. Sakakeeny, currently a counselor in the Tufts Career Services Office, feels that it would be wise for students to be more financially prudent than they are. "I was very conservative, and it paid off in the long-run," Sakakeeny said. "I didn't come out of school with debt, and I didn't feel like I drove my parents to the poor house."
