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Spending Your Graduation Money Wisely

What should you do with all that graduation money?

Kaitlyn Specht

April 28, 2015

Spending Your Graduation Money Wisely
After the confetti settles and everyone goes home, a wave of relief will come over you. Finally, you’ve graduated! It seems that the worst is over where college prep is concerned, but there are still a few things to take care of – like spending that graduation money.
Make a List
It can be tempting to go on a spree and spend everything right away, but think about what you need for the next few months.

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What do you have already? What do you need for college? Do you have basics and necessities, like sheets and towels?
Bargain with Your Roommate
If you have the contact information of your new roommate, consider compromising with him/her on what to bring.

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If you received a mini fridge as a gift, ask them to chip in on something else – an ironing board, a TV, a stereo, or anything else that you might want.
Don’t Forget about Smaller Items
Think: school supplies, toiletries, laundry soap, and other small things. It will save you time and money to buy some of these things in bulk.

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Just don’t go overboard – those dorm rooms aren’t especially spacious!
Save the Rest
It might be nice to have some extra luxury items around your dorm, but it’s best to refrain from spending your graduation money on these things. If you have any extra money left over after getting your basic necessities, put it towards buying your textbooks or save it for future expenses. The last thing you want is to regret not having that money there when you need it. Remember that this money is an investment in your education, so respect that and put it to good use. Buy the necessities, save money where you can, and stay away from the temptation of buying a whole bunch of items that won’t fit in your dorm room to begin with. In the end, you’ll enjoy having that extra cash to put towards books and other expenses in your new lifestyle.

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