Most college students are either broke or underpaid. According to an American Psychological Association publication in 2019, 1/3 of college students do not have enough food to eat or have consistent housing. They are also exploited by fashion, food and technology companies on social media every day. TikTok, Instagram and Twitter are all forces that operate with user engagement algorithms to understand what advertisements interest them.

There is an expectation to buy products to keep up with trends or to remain relevant with friend groups. Activities such as reading a particular book, attending a basketball game or purchasing an air fryer are either marketed to people on their social media accounts or by a friend’s online referral.

Lindsey Toomb, a Eugene native and medical office employee, started a blog and Instagram called Eugene on the Cheap to help residents and students locate events or restaurants that promote the local economy while saving money. Toomb’s goal through this project is to act as a community guide that will make events such as concerts, happy hours or recycling programs accessible for community members.

Toomb expressed that Eugene could be a “budget-friendly city” if one looks to the right places for free events and follows small businesses on social media. She recommends downloading spreadsheet apps on one’s phone to monitor how one spends their money, looking at both wants and needs.

“Any free event will get my attention,” Toomb said. “Beyond that, it is really the people and places that are affecting our community for the better in big and small ways. Supporting local businesses is a great way to grow our local economy and affect change in real time. Showing your support for causes you believe in goes far beyond the ballot box these days.”

Neal Kimchi, a freshman business student, prefers to purchase clothes online when he can use a coupon. Kimchi tries to avoid fast fashion brands as much as possible. He sometimes thrift shops around Eugene but prefers the convenience of online second-hand shops such as Depop. His final decision on an item is based on his income during the week. He recommends downloading the extension browser Honey to get quick references to deals online.

“When I usually get a paycheck from work, I would like to save 60% of it and have 40% of it as disposable income,” Kimchi said. “This process will help build my savings account and keep a large store of money in case I need it for something.”

Peyton Elebash, a sophomore computer science student, said her favorite activity is longboarding and skateboarding. Elebash’s hobby is a long-term investment for her current budget. Initially, Elebash’s gear and board attachments were expensive. Over time, though, she realized her cost of maintenance was reduced when there were fewer additional fixes to her board. She could also see how newcomers may be tricked into buying the high-priced materials. Elebash learned from her first purchase to do research before making a decision.

“I try to write all my purchases in my notes and keep track of what I am spending,” Elebash said. “I always try to save a little to have fun or do some sort of activity with friends. College has many expenses, and it is always good to have management skills.”
Liam Martin, a freshmen student whose major is undeclared, found reducing the amount of takeout food saved his bank account. He said he might as well take advantage of his meal plan when he knows he won’t have the financial security once he moves into an apartment. Martin even prefers to buy food using his meal points from the dorm’s convenience store when going on a weekend trip with friends.

“I have to tell myself: ‘Is it worth it?’” Martin said. “I have to wait for the summer to make more money, so right now I have to be tight on my budget. Living in the dorms feels like an in-between stage between being fully on your own and being taken care of by your parents. It is a great time to plan ahead.”

Although college students have their whole lives ahead of them, it is never too early to start saving money. People are worried they will be missing out on fun experiences if they can’t afford certain activities. However, there are many resources available and methods to learn that can reduce one’s spending habits.