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High School Seniors, meet Rowdy Cents! (10-Steps about applying to UTSA and getting your money matters in order before you start college!)
home page updated 11/16/09 |
"Start slowly, keep a steady pace, and limit your stumbles on the Paseo Dinero," cautions Rowdy.
The “Money Walk” can become a “power walk” but it takes time. Anyone familiar with this popular form of exercise knows that you just can’t start walking fast and intensely. It takes conditioning your body to build up to that level, in order to be safe and effective.
This is true with managing your money and time. The conditioning comes when you make good money choices and that builds consistency over time. Sometimes, though, you learn by error - no one is perfect. Yet you can minimize the effects of your errors if you will 1) accept that there will be ups and downs on your money journey and 2) adopt a good decision-making process.
A ROAD MAP for financial decision-making
There are major life decisions and smaller ones. All can impact your financial journey in some way. Here's a college life event and a sample decision-making process that you might want to adopt.
| College Life Event |
Upside |
Flipside |
Explore more. |
| Where will I live? |
Home - saves money; maintains time with family |
Commute to school; family obligations |
What kind of transportation and cost of? Must I care for siblings? Will I have to help with house chores or rent/mortgage? Will I havethe time and quiet place to study? |
| |
Apartment - freedom to do what I want, when I want; share with a friend |
Costs money; sign a lease; share with a friend |
What do apartments cost? How would I pay for it? How close can I live to campus? Are there shuttles or can I walk to campus? How long is a lease for and what happens if my friend and I split?Can I say "no" to partying with friends when I need to study? |
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On-campus housing - saves time and transportation to and from campus; close to classes, library, and activities |
Costs money; sign a lease; share rooms; unknown roommate |
What does it cost? Are there different areas with different rates? How long is a lease for and what if I don't want to stay there? What happens if I don't get along with my roommate? |
Let's say you eliminated living in an apartment after exploring, but can't decide between the other two. On a piece of paper list the Options, Cost, Pros, and Cons like this. (Don't exclude your feelings about the options either.)
| OPTION |
COSTS |
PRO |
CON |
| Living at home |
$1000 - $2000 -car/help with house |
Basically free; will maintain family ties |
May have to help with siblings; may have to help with home repairs and maintenance; not quiet for study; need reliable transportation to campus and back |
| Living on campus |
$2000-$3000 |
Close to classes, activities, library; fewer distractions; limited responsibilities; won't need a car |
Will cost money; will need to purchase a meal plan; won't know roommate(s); must sign a lease and commit to X amount of months; might be homesick |
The two dominant financial issues above are the cost of campus housing and the cost of transportation to campus if living at home, and any costs to helping with the home.
- Should you resolve the “head” issue (costs) before the heart issue (feelings)? There's no one answer for all. How you value one over the other is an entirely personal decision.
- Definitely compare the costs of each option then weigh the affordability and importance of each. If you feel the same way about both options, then choose the one that costs less.
- Always “sleep on it” before you make the final decision. And you still might want to bring in a trusted friend or family member to discuss it further.
Rowdy says, "Decision-making comes from the head and the heart ---what you know and what you feel. Our society thrives on instant gratification and our process of decision-making is not immune. It's essential to slow down the "money journey" when making decisions that will have a financial and, quite possibly, an emotional impact on you!"
Fun Fact: The PASEO addition at UTSA's main campus is outside the new University Center III expansion. The 2004 UTSA master plan introduces the concept of using paseos not just as "walkways between buildings, but lively streets with a mixture of academic, commercial, and social functions."
PAGE UPDATED 10-27-09
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