Coleman Eakes
Reporter
It’s no secret that almost everything seems more expensive these days.
Inflation is a word that’s being thrown around a lot right now. Inflation tracks the rate at which the price of goods and services increases over time. Right now, the U.S. Labor Department says inflation is at 3.7 %. That’s lower than during the pandemic, when it rose above 8 %, but it has been tracking higher in recent months, which means that basic things, such as gasoline, food, rent and household supplies now cost more than before.
For college students, that can translate to more financial pressure.
For instance, some Mississippi University for Women students estimate they are paying double for gas now compared to what they were paying two to three years ago.
“I paid about $25 in 2020 for a tank of gas, and now I pay about $38,” Alysa Newman, a senior Healthcare Management major, said.
Hunter Yeatman, a junior Kinesiology major, agreed.
“I would pay around $28, but now I pay between $40 - $45.”
Some students said the higher gas prices have meant they haven’t gone home yet this semester, while others have only been able to visit home a handful of times.
Kalee Sanders, a 20-year-old Junior Kinesiology and Exercise Science major, said she has not been home since she arrived on The W’s campus in late July.
“I put $15 in my tank, and it got me below half, but I used to could fill up my whole tank with $25,” Sanders said.
All seven students interviewed for this story said they could not go out with friends or eat at a restaurant without worrying about money. Most of them have internal priorities about money.
“I’d run out of food before I let my car run out of gas,” Newman said.
None of the students interviewed said they go out as often as they once could.
Nala Johnson, 22, a senior double majoring in Marketing and Culinary Arts said a weave or sew-in hairstyle costs between $160-$220, which she said is essential for black women.
“It really is a necessity, and you are supposed to get them re-done every month or every few weeks. I paid about $200 for my last sew-in, and I spend about $50 just on hair products.”
David Maldonado, a senior Accounting and Marketing major, and Jade-Lynn Rudolf, a senior Biology major, said their monthly food budget has increased from $300 to $400 just in the last few months. Yeatman has trimmed back extra expenses.
“I try not to go out to eat as much since I try to save money but every once in a while, you just got to live, you know?” Yeatman said.
Shelby Wilson, a junior Business major who is here on a full ride, supplements her scholarship with extra money from jobs when she goes home.
“It’s hard to find a job to fit your schedule because most places want you to be full time, and on-campus jobs don’t pay enough to support you, so I work as much as I can when I’m home.”
All the students said they want to focus on doing well in school, but it becomes hard when money is a constant source of worry. Most of them also said they worry about not being able to support themselves after college.
“I feel guilty buying things for myself,” Rudolf said.
Yeatman hopes to go to physical therapy school and is worried about how he will pay rent while in school. He said he hopes to be financially independent in three years but admits that might not happen.
Sanders has worked since she was 16 years old. Her parents work two jobs each.
“In high school my parents would give me $20 so if we went somewhere for track, I’d always got to Subway, and I could get a whole meal for under $10 and have change for my parents. But now it will be at least $12.”
Newman and Sanders each said they need $200 a week to live comfortably.
Wilson, Maldonado and Rudolf all agreed on $500 a week. Johnson and Yeatman said a minimum of $300.
“Money can bring happiness, but I don’t think you need money to be happy,” Sanders said. “If we don’t have any money, I have some paint and canvases in my room. We could sit and do that, and we’d have a good time.”
Sanders is mindful of what she spends, but being rich is not her goal. She wants independence.
“One my many stressors, but not my main stress because I know money will come and go, but I don’t want to struggle after college.”
“I want things I worked for, not the things my parents bought,” said Sanders. “I don’t want to be rich, maybe well off without worrying about going out to eat, but I don’t need multiple cars or homes to be happy. I just need one reliable car and a roof over my head.”