Spendaholics Anonymous: The seven deadliest sins for your wallet

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Man has been combating the temptations of the seven deadly sins since the beginning of time. What he doesn’t know is that they really are capital vices. They are not only “capital” in the traditional sense of worthy of punishment by death, but also in the sense of wealth.

Take some advice from the CUI and save some dough. (CU Independent Photo Illustration/Robert R. Denton)

Starting with lust, a simple example is excessive sexual thoughts and desires. How does this relate to a college student who has access to free condoms and fun-loving people? While not all women require you to wine-n-dine them before giving up the goodies, there are those who do. Men often risk their $40 dollars on a dinner hoping to get laid. Relationships aren’t cheap. Whether in a relationship or not, there are always more swipes of the credit card before notches on the bedpost. Sticking to one night stands if not abstinence saves you not only money but valuable time.

Gluttony may be the biggest sin in America. It is over-consumption and over-indulgence. Applying this to the college lifestyle is pretty easy because it can be found in nearly every aspect of a student’s life. Binge-drinking really is deadly. However, consuming alcohol when already past the point of remembering what happened is also stupid. A frugal drinker would conserve the resource for even more nights of wild shenanigans. Be aware that gluttony doesn’t stop at food and drink. Consuming only what you need will prolong your money and your resources.

Sticking with the theme of excess, greed is the excessive desire of money, status, and power. You will find that being generous may actually help you save money. When you show generosity, such as buying someone a coffee, they will repay you next time with say a coffee and a muffin. A little generosity can be returned in a big way. By all means pursue bettering your quality of life, but remember that sometimes it is the generous detours that will actually get you where you want to be.

If there is one thing that will never make you money, it is laziness. Not utilizing your gifts or talents is the sin of sloth. For poor, budgeting college students, understanding this should be relatively easy. No job equals no money. Use what you’ve got and make some dough. This applies to school too. The effort you put into making grades here at CU will lead to job opportunities. Real profit can be found once you conquer the monster that is laziness.

Wasted energy is wasted resources. Therefore wrath, uncontrolled hate or anger, is a large resource pit. Seeking the ultimate revenge by destroying your ex’s car costs more than just the baseball bat, it leads to vandalism fines and court fees. Buying the hottest pair of red heels to show him just what he is missing is impulsive buying. Anger leads people to do some pretty crazy things, and setting yourself free from these sentiments will not only make you happier but also wealthier and healthier.

Envy is something everyone struggles with. Simply put, it is an insatiable desire of anything to the point of wishing that those who have it didn’t. Envy leads to purchases beyond one’s means. Technology is a great example because it is always changing. For many college students, buying a Mac at a premium price isn’t really cost-effective especially when a PC at an affordable price will suit your needs. A college student on a budget can’t attain each new hip thing. Let go of the unnecessary wants and desires, and your wallet and mental health will thank you.

Speaking of mental health, pride is a definite sin. This overwhelming desire to be the best is really just self-obsession.  Between the mani-pedis at $75 dollars and touching up your roots and highlights at $150 dollars, the maintaining an appearance can deplete a huge amount of your monthly income, and for what? Being the hottest stuff on campus? There is always some one better, prettier, smarter and so on. The acknowledgment of the success of others will ultimately humble you and free you from your addiction to self.

The seven deadly sins can control you as well as your spending. What most students don’t realize is that they are ultimately buying things that they don’t need. Understanding and awareness is vital to facing temptation head on and challenging the expectation that you will fall into it. Let daily awareness be your shining beacon of light out of the darkness of the deadliest sins for your wallet.

Contact CU Independent Staff Writer Mandi Meek at [email protected]