Coffee

We joke about how many pots of coffee we consume before an exam, yet it often isn't much of an exaggeration. As classes come into full swing and the weather gets cooler, you are guaranteed to see more students carrying coffee around. But how much is it about the actual need versus habit and experience?

My friend Lauryn is one who I almost always spot on campus carrying the coffee, so she seemed like the perfect candidate to ask the interview questions. Below are her hilarious yet honest answers. 

1. How did you decide you wanted to go forth in this purchase?
Oh, coffee, its a wonderful thing. We all choose to spend our money differently, but I prefer to spend my money on things that put a smile on my face.. coffee being a big thing. This is how I look at it; I would rather buy 4 lattes then go out to eat twice in a week. Plus, who doesn't love the warm, rich, creamy, nutty, but bitter, and sometimes sweet taste of coffee? Coffee with a friend also encourages the act of laughing; which I would always recommend. 

2. Do you set a budget for spending on this type of stuff? Did you change your spending budget after this purchase?
 I don't have a specific budget that I spend on coffee weekly, but I try to not buy coffee more than 4 times/week (still a lot of $$ and caffeine, I know). Why put on a limit on something so good? Plus, god created coffee, so its a good thing to drink.

3. Have you forgone participating in other activities or purchasing other items in order to purchase this/these item(s)?
I have not forgone participating in other activities, but when I do buy coffee I forego the warm, sugary, yummy pastries that stare at you while you wait to order. After all, coffee is better with a friend rather than a cookie. 

4. How much would you say your spending habits changed while in college?
(1-Not at all, exactly the same as before college. 10- It has done a complete 180 and I spend much differently)
Why?
My spending definitely changed in college.. instead of focusing on material items.. I would rather spend my money on experiences and opportunites with friends, etc. With college comes many expenses; books, school supplies, groceries, etc. I would much rather spend an extra $20 on having lunch with friends, enjoying fellowship, and talking about life together, rather than buying the biggest, newest thing on the market. (rating: 7). 

5. Do you think you will you continue to spend the same after college?
Life after college is a bridge I will cross when I arrive at that place, but one thing for sure is that money will be going into my bank account instead of out. (Hopefully!). We go to college to earn an education to one day go out into the world and do something we love, with that comes a lot of money towards school, but also an income afterwards. As a nurse (which will force me to drink more coffee), I have aspirations to travel the world, providing services to those in need. Traveling is expensive, therefore I hope to save money after college to not only establish a life in a place that I love, but take time to help others, internationally. I believe understanding the concept of saving money is important, but living in the moment and trusting in god's plan is important too. I have big dreams, but I would never pass up the opportunity to have coffee with a friend, even if that means driving 500 miles and spending money. 

She's pretty funny, isn't she? But this also offers an honest perspective on coffee: the truth that it has become a social thing. For many, getting things like coffee often end up being for social reasons. For Lauryn, and probably many college students, coffee can be a necessity for both staying awake and for maintaining social norms. 

I think it is important to think about college and what will be remembered; of course sitting in class, but also the bonding moments of sitting across from a friend drinking coffee, ordering a pizza with friends after the freezing cold football game, or going through the TacoBell drive thru after doing homework until the wee hours of the morning with your roommates. College is the first time for most students to be able to choose how they spend their money, which ultimately means they will be the ones finding value in what they do, so if a couple of dollars is worth enjoying company with friends, it's their choice. 

So... the conclusion for Lauryn spending her money on coffee ends up that it is rather motivated to fulfill an emotional need. Is that what most of our college spending will end up being? It will be interesting to see with more expensive items, hobbies, and even more small items. 

Spending of College Students at MSU

It is not uncommon to hear college students make the joke, "I'm so poor," or even, "The only food I can afford is ramen and PBR."

Yet often, in Bozeman these jokes are made by students wearing a Patagonia nano-puff with a Big Sky lift ticket hanging off the zipper--a combination that can cost an upwards of at least a grand. Or maybe it's after they tell you about how they just got a new Sage 7 weight for streamer season and how they'll be breaking in their new Simms waders when they use it--another combination worth about a grand.
Not that this is a bad thing, but rather a curious choice made by college students. For the first time these students are allowed to spend their money how they choose: some have jobs, some are given allowances, and all of them have reasons for their choices of how they choose to spend their money.

But why? That is what I'm interested about.
With this curiosity, I've decided to discuss one spending behavior to look into each week. The topics will range from Patagonia Snap-T's to daily coffee to engagement rings to fly fishing gear.

With each topic I will interview the students with a set of questions:
1. How did you decide you wanted to go forth in this purchase?
2. Do you set a budget for spending on this type of stuff? Did you change your spending budget after this purchase?
3. Have you forgone participating in other activities or purchasing other items in order to purchase this/these item(s)?
4. How much would you say your spending habits changed while in college?
(1-Not at all, exactly the same as before college. 10- It has done a complete 180 and I spend much differently)
Why?
5. Do you think you will you continue to spend the same after college?


My curiosity comes after reading Meghan Daum's New Yorker article "My Misspent Youth." In this article, Daum discusses her years as a young woman in New York with a low paying writing job and high bills, and how in spite of these things, she continued to spend money. She explains that despite the knowledge of her debt, she continued to spend. 
At first glance, it is easy to assume that she is completely irrational, but once we reflect on our own choices, we can see that there often is some bit of reasoning that is rational. For Daum, following her dream of being a writer in New York and the string of choices she made to follow that dream were rational, despite the huge blow to her finances. She lacked any bit of planning for her future financially in hopes of following her dream and this ended her in a mess. (Although she is now a famous writer, with numerous books on the New York Best Sellers). 

This got me thinking, are we blindly spending money to chase our dreams as Meghan did? What is causing these choices and are they rational? Throughout these posts and this semester I hope to find out.