By: Jada Law, Follow South Jersey Intern
SOUTH JERSEY- With the holiday season coming right around the corner it’s supposed to be the most wonderful time of the year. A time where people can spread joy and engage in festivities with their loved ones. However the act of gift giving and spreading holiday cheer may be transforming a specific demographic into the Grinch this year.
“As a college student, holiday expenses get in the way of my usual routine,” stated Lewis University student Aaliyah Jenkins.
Jenkins further explained that she has a lot of expenses she has to pay for already, the highest being her college tuition, which makes Christmastime feel more like a burden than a celebratory holiday.
According to Investopedia, the average budget per person during the holiday season “for 2024 is $1,778. That’s an 8% jump compared to 2023. In 2023, it was $1,652.”
For a full time college student that only can work part time or not at all, that is a big chunk of money to be spending on just gifts alone.
Lewis University student, Danny Jiminez could relate when he said “I usually end up working less to prioritize my school work but that leaves me with less money.”
Jiminez emphasized how gift giving during the holiday season tends to have a huge impact on his finances.
“Since I work so little, it’s hard for that money to come back,” stated Jiminez.
“As a full time college student, I already do not make any money,” said Lewis University student Tiyanna Carter, “so for me to try to put money out there to buy gifts for my family or travel back home for the holidays, it’s very strenuous on me.”
Students also mentioned that not having enough time to save up pay for gifts is also a big factor in them losing money.
“I have to wait sometimes depending on what bills or financial responsibilities I have at the time which makes it difficult,” stated Jenkins.
“The end of the year brings Christmas for my family, so, that means spending a lot of money on gifts and ingredients for yummy foods,” said Jiminez, “It doesn’t seem like much but it adds up when you don’t have as much time to work.”
Students like Tiyanna Carter even went on to explain the additional costs she has to consider as an out of state student.
“Travel would be my biggest cost and ticket prices go up a lot [during the holiday season],” Carter stated.
To combat the financial stressors they are facing, students have looked into ways to save more money.
Jiminez mentioned that he tries “to create a budget plan where I allocate some money specifically for gifts. I also try not to spend money on smaller things like chips and candy because those small purchases really add up.”
“Some strategies I utilize is sending aside some money for gifts every check. So, I can get Christmas shopping done a bit at a time, stated Jenkins.
The holiday season is starting to empty college students’ pockets more than anything this time of year. The act of gift giving, travelling to see family, and creating delicious meals with loved ones is hard to enjoy when you have to constantly figure out how you’re going to make back all the money you just spent.
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