credit cardAs we come up on mid-April, also known as the dreaded tax season, adults all over the nation feel the stress of getting their dues in on time. Living on a college campus, we generally don’t see this hubbub of taxy time but it prompted some researchers to wonder: How exactly do college students manage their finances?

Obviously, one of the things that makes college so kick ass is increased freedom in personal decisions. However, this doesn’t necessarily result in better decisions as brain development — an important factor in good decision-making — isn’t complete until the early twenties. So what exactly did these researchers discover about college students’ financial decisions?

One study found that financial behavior worsens as a student progresses through college. While 49 percent of seniors neglected to pay their credit-card balances, only 29 percent of freshman failed to do the same thing. Additionally, seniors were far more likely to report credit card debt than freshmen (78 percent of seniors compared to 49 percent of freshman to be exact). Despite the grim statistics, students are still more likely to write good checks and pay bills on time than they are to budget their money or balance a checkbook. Well, at least there’s some good news.

Image Source: liewcf under Creative Commons

College Students’ Financial Literacy and Behavior [Psychology Today]

Alright, Berkeley. We know you like to indulge in a little “Mary Jane” every now and then. We can smell it in the air on Telegraph Ave. Annd … pretty much everywhere else in the city. So what say you about this?

Apparently some local networks have refused to air the above ad because it “promotes marijuana use,” but if that glassy-eyed robot lady really is an example of a “real marijuana user” then we must respectfully disagree. Also, we’re kind of in favor of anything that would help the state out of its massive budget pothole (get it? Get it?!). read more »

Pound it, bro!After discovering the latest omen of the world’s coming demise, the Clog encourages Berkeley students to put down their books and enjoy their short-lived time on earth

A group of Bay Area College Republicans finally found something Republicans decided was worth protesting. Friday night, they showed up on the mean streets of San Jose to revolt against none other than–a beer tax. Yeah, we know, right?

The proposal (not yet drafted, by the way) would be designed to sort of, indirectly-ish, combat underage drinking, save the state lots of money on bad things that are related to underage drinking (i.e. car crashes) by taxing beer manufacturers, and in effect, making a six pack o’ brewskies almost $2.00 more expensive. Assembleyman Jim Beall cited studies that showed drinking among college students as a “real health problem.” Gee, well when you put it that way … read more »