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When I was younger, my living expenses and expectations were low. Housing was communal. My car was nonexistent. Food was shared. My furniture was used.
I can afford more now (and did finally spring for a new couch). But I still rely on hacks I learned as a recent college graduate - and not just because they save money. My life is better because they connect me to my values while treading lighter on the planet.
This spring, I spoke to dozens of students on university campuses to see how they were preparing to launch into the world. In some ways, their challenges are different from what my classmates and I faced. We left college amid the wreckage of the dot-com bust. But today's uncertainty feels existential. Artificial intelligence is taking entry-level jobs. Federal funding cuts have hollowed out government agencies and eliminated billions of dollars in research (and early career opportunities). Rent prices are at record highs, while consumer sentiment is near its lowest point in more than 50 years.
One thing that hasn't changed, though: Living well for less can help you find your footing in an uncertain world.
New graduates, as you leave school, you already have your PhD in this. Hold on to that expertise, because it can serve you well at any age. Some of us who are well beyond our college years may need to brush up from time to time. But new tools let you do it better than anything available when I was scouting the curbsides of Atlanta for living-room furniture.
Here's a quick roundup for everyone.
Buying used is as easy as new. There are way more options than Craigslist today. As I've written, the "recommerce" ecosystem is full of premium, quality goods at a price and, at times, convenience, rivaling Amazon's shopping cart. Google has a "used" filter in its shopping search engine. Amazon has a site for resale and refurbished goods. Facebook Marketplace has eclipsed Craigslist as the default marketplace. Online thrifting at Goodwill, Poshmark, Depop (now owned by Etsy) and ThredUp offers bargains (and home delivery). Retailers such as REI and Patagonia Worn Wear have their own resale sections. To avoid spending any money, try your local Buy Nothing group or Freecycle. If you're willing to look, the quality is excellent. When I scan my living room today, I see two couches worth thousands of dollars that I bought for a fraction of the cost (and delivered by Lugg). Ancient wisdom from those born in the 20th century: Don't forget curbsides the day after classes end or large trash pickups in ritzy neighborhoods. Those have furnished many a studio among the young, broke and beautiful.
Rent things you need only once in a while. I've rented apartments. But you, freshly graduated friends, can rent stuff. Several new platforms - Fat Llama, Yoodlize and others - promise to be Airbnb for your things. They let you rent everything, including ladders and LED wall lights, for next to nothing - or you can earn money from your belongings. A Lego Star Wars Dark Trooper Helmet in San Francisco is just $.50 per day. It's still early days: The selection of goods is slim. But if anyone can make these platforms take off, it's you.
Some things should be "buy it for life." A few things you want to buy to keep forever. My wife may want to toss that T-shirt from a wine bar where I worked in 2002. But she fully endorses the idea that we should spend more now on possessions we plan to keep (and repair) for as long as possible. So far, these include a perfect if pricey pair of boots (on their second or third resole), a refurbished Vitamix, an electric bike and more. Amortized over time, they're the cheapest things we own. Impress your parents by calculating your return on investment. They might even chip in to defray the up-front cost of lifetime purchases. There's not (yet) a definitive guide to BIFL items, but you can start with Reddit's forum, Wirecutter's picks or independent reviewers such as Carl Murawski.
Invest in a toolbox. A good toolbox can pay for itself in one repair. If you shop right, tools are dirt cheap. Mine are a hodgepodge of garage sale specials, contractor castoffs and a few full-price items worth their weight in die-cast metal. Don't buy them all at once. Like a fine wine collection, take your time as you learn what you need. Once you've assembled them, YouTube videos make anyone a repair wizard. This year, I saved more than $500 fixing my garbage disposal with a 41-cent Allen wrench. Bonus: The right to repair is coming to a state near you. It prevents manufacturers from withholding manuals and other how-to-fix information. Even more products should be easier to repair with a little ingenuity and a toolbox.
Seek out surplus food. My graduate school friends used to dumpster dive for free food. Skip the bin and get delicious (almost free) food from Too Good to Go and Flashfood, two apps saving perfectly good food from retailers and supermarkets from the trash. While they're unlikely to replace your entire grocery list, they're an easy way to go gourmet at a fraction of the cost. I fed my family with them for days.
Embrace potlucks. These kept me alive in graduate school. I signed up for a weekly dinner. In exchange for cooking for a crowd once a semester, I knew someone else would heap food on my plate every week for months. I admit, I don't do them enough anymore. But it is a beautiful way to share food with friends. I'm planning a revival with other families in our neighborhood.
No car, no problem: The average American spends hundreds of hours every year commuting in their car. For many, this is not a choice. "America's built environment," write the authors of a 2019 study in the Journal of Planning Education and Research, "forces people to either spend heavily on cars or risk being locked out of the economy." For those just starting out, there's never been a better time to reclaim your freedom to get around as you wish. Whether it's biking, scooting, ride-sharing or even car-sharing, there's an app for that.
Libraries: Libraries don't just lend books. They are true community spaces with free events, classes and access to the equipment of modern life. Streaming platforms (Kanopy, Hoopla) are common. Some libraries have maker spaces (3D printers, crafting tools). For families, they're lifelines. Need something to occupy your kids? Check out story time. Tired of paying to work in a loud coffee shop? Libraries offer peace and quiet - and usually let you sip your coffee in a closed container. Check out your local library's website or the Libby app.
"I'm always in and out of the library these days," said Ariyha Williams, 23, a recent graduate of San Francisco State University. "They even help with taxes."
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