Henry Davis, director of accountancy and Eastern Professor, said it is not “rocket science” when it comes to budgeting money while in school.

A method he uses to help from over spending is to always use cash.

Davis said when using credit cards, it can be hard to keep track of spending because credit cards are always there to use, but with cash, you will eventually run out.

Interest charges with credit cards can also be costly.

“Just buying coffee at Starbucks, with an 18 percent interest charge, you will end up paying $8 for a coffee,” said Davis.

Davis believes credit cards should be used only for emergencies and that cash should be used for day-by-day expenses.

“The best way to budget all comes down to financial planning,” said Davis.

A technique he used when in college was labeling envelopes for food, entertainment and gas, along with other important expenses.

“You put money each week in the envelope with the amount you think will be enough to cover the expense and you can’t go over,” said Davis.

His children also use this type of spending method.

Anna Sprague, a junior marketing major, does not budget when it comes to dining dollars.

“My dad pays my student account, but when I see that I am having to add more dining dollars too often, I start to pay closer attention,” said Sprague.

Sprague avoids buying coffee as much to avoid overspending.

“This year is the first semester I really had a problem with budgeting because a lot of my friends don’t live in the house (on campus), so when we eat, we go to the Union because they have cash and I have dining dollars,” said Sprague.

When it comes to her debit card, Sprague finds that online banking has helped her notice if she is spending too much.

“I try to spend only $50 a week, online statements help me not go over that, so I can save money, too,” said Sprague.

Jamie Schmidt, a senior psychology major, said when she was a freshman, she never paid attention to her spending but has learned how to spend her dining dollars sparingly.

“By Thanksgiving break freshman year, I would be out of dining dollars because I didn’t want to venture into the dining halls,” said Schmidt.

Instead, Schmidt avoids buying soft drinks as much and has switched to filling her water bottle so she has enough dining dollars to have lunch when meeting up with friends.

“I don’t want to pay with cash at the union when I have a meal plan,” said Schmidt.

Allison Twaits can be reached at 581-7943 or [email protected].