How should a college student spend (or not spend) his measly savings?

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kheddar's picture
kheddar
Status: Member (Offline)
Joined: Dec 4 2008
Posts: 1
How should a college student spend (or not spend) his measly savings?

OK, so I've been aware of peak oil for like 3 or 4 years now, but I've never taken serious action because I used to believe in transitioning to renewables, and I never quite got the big picture, linking the growth-based economy to energy, etc. Mentally I feel I am prepared for what is coming, but I am woefully unprepared materially.

I live in Finland and am currently studying third year English. This does not seem like a good future career to me, but I've been too indecisive about making any change, and hey, it's only a couple of years before I graduate, right? ...right?

I've spent a good amount of time convincing my parents of what's coming. They bought a house just before the bubble burst in the early 90s in Finland, so they're still pretty deep in mortgage debt. They also just sold their 2 cars and bought a new one and TOOK A LOAN for it. My father tells me he understands that hard times may be ahead, but unfortunately he's Christian and apparently the mindset of "God will take care of us" is inhibiting him from even considering any kind of significant action. He's been talking about building a cellar and a stove "sometime in the next 5 years," but I'm not sure that's even in the plans, and it should happen sooner anyway. 

Personally I don't have a lot of savings, a few thousand euros, and of course I have the odd item or two to sell. I can't work during my studies so I'll be looking for a winter holiday job and a summer job. I am definitely going to try to get rid of any stupid stuff I've bought
over the years, and get as much money as possible from working. I might get a well-paying summer job in rail construction in the summer,
I hope the shit is still at a comfortable distance from the fan in
Finland when that time comes.

But what should I do with the measly money I have now? I'm not going to be able to convince my parents to build an emergency food reserve, so should I just start gathering one myself with what little money I have? I might just store it at my parents' place, and maybe if and when the food is ever needed they'll thank me instead of God for their daily bread. Or would there be something wiser to use it on? Or just save it (deflation)?

 

rkopf's picture
rkopf
Status: Martenson Brigade Member (Offline)
Joined: Sep 4 2008
Posts: 29
Re: How should a college student spend (or not spend) his ...

Hi kheddar,

i m in kind of the same situation, having saved some thousand euros, but not enought to get a solar powered eco farm in the countryside. However, i think we still have some time, before the dollar crashes (nobody nows, but i think the euro will follow. chris mentiones that "other countries will have to devaluate their currency" when the dollar falls)

It you see this coming you can spend your money on things, that keep their value, some things come to my mind:

If you dont already have one, get a good bike, and have the tools and skills to repair it. I see often peoples carrying their kids, or stuff around them using wagons, they stick to their bikes. Very useful.

Another thing is, when you have a good relationship with your parents, and expect, they can keep their house during an economic collapse, you could put your money into solar heating, or photovoltaic devices, and put them on your parents houses roof. They will make themselves paid off, keep their value, so you could even sell them later.

Brandon's picture
Brandon
Status: Martenson Brigade Member (Offline)
Joined: Oct 6 2008
Posts: 143
Re: How should a college student spend (or not spend) his ...
rkopf wrote:

...you could put your money into solar heating, or photovoltaic devices, and put them on your parents houses roof. They will make themselves paid off, keep their value, so you could even sell them later.

I'm not sure if there will be a big market for selling parents during an inflationary period, but if you find someone who's buying, let me know!

...oh wait, you were talking about the photovoltaic devices... Wink

rkopf's picture
rkopf
Status: Martenson Brigade Member (Offline)
Joined: Sep 4 2008
Posts: 29
Re: How should a college student spend (or not spend) his ...

of course i meant the devices... sorry ..

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