By the time I turned 16, my relatives had pretty much given up trying to figure out what to buy me for Christmas—and I can’t blame them. It’s hard to guess at what a teenager truly wants. For many years, their guessing resulted in an infinite supply of Bath & Body Works shower gels. So when they decided that it was much easier to give me a card and some money, I wasn’t complaining. The problem is, I never knew how to handle my new holiday cash flow. Eventually, I learned the best things to do with my wad of cash:
Make a trip to the bank
My first suggestion is to deposit most, if not all, of your Christmas cash into your account. This makes it easier to keep track of your money. Personally, when I leave my money clumped up in my wallet, I forget how much I have and often spend the cash frivolously on Dunkin runs and Panera lunch dates.
Buy a staple item
Take advantage of your new wealth to buy pricier items that your parents may be hesitant to buy for you. This could range from a Michael Kors watch to Ray-Bans or a brand new tote bag. Whatever your little heart desires.
Chances are you made it back to school with a suitcase full of new sweaters and pants that you got on Christmas morning. That’s great, but it’ll be spring before you know it. And with spring comes spring break. We are already hitting the white building working on our bodies. Why not show off those new abs with brand new bathing suits to match? Bathing suits now are cheaper than they will be come March.
Spend it on an experience
What better way to use the gift money from your aunts and uncles than to spend it on Jay-Z tickets or a trip to New York City? Do whatever you want, just do something. Buy tickets to a music festival like Firefly or spend money on wine and movies for the ultimate girls night.
Repay your debts
You owe your roommate $25 for the electric bill. You owe your best friend $40 for the crop top you borrowed (and ruined). In college, we come across numerous expenses every day. Books. Chipotle. 2 a.m. DP Dough. It will feel great to pay back all of the people you owe. Start 2014 off with a clean slate and no dues.
Photo by Amanda Hunt