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10 Reasons You Should Become a B Student

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Time and Clocks

My definition and intention with frugality has remarkably little to do with money. Rather, I’m motivated to save and protect time. Being frugal allows me time to read, write, and enjoy my time with friends — it’s not just about padding my bank account. With a lower cost of living, I can maximize my work-life balance.

As a Ph.D. student, I’ve been asked how I have time to “do it all.” Doctoral programs tend to be arduous and lengthy. But I usually blanche at this hyper work-focused “compliment,” which usually comes from peers and fellow colleagues. They look at my “accomplishments” and wonder the recipe. They quickly surmise it takes lots of time.

It’s not true and doesn’t accurately represent my values. Once I got into graduate school I threw away the perpetual drive for good grades and professor’s good graces. While I care about what they think, I’m not motivated to perform in the classroom. I don’t really care about essays or exams. My heart and efforts are always outside the classroom.

When I was an undergraduate student at Colorado State University, I realized A grades were very difficult to achieve. The plan often included late cram sessions, lost weekends, sacrificed social gatherings, flashcards, and fewer passions outside academia. Not only was I paying to be there, I was without time for anything but school.

To know what an A grade took also meant knowing what a B felt like. In college, the B is considered the new average. It didn’t feel like an option to “slack off” and shoot for Bs. But I knew that Bs were easier to receive and life became relaxed. I could get a B in almost any class with a bit of study and meeting expectations for essays. I didn’t have to stress and worry and struggle. It just happened. As soon as I entered graduate school, this new philosophy took hold.

Today, the answer is simple for my acknowledged “successes”: I’m a self-identified B student. For many of my peers it’s hard to let go of the control, academic achievement, and rigor for classroom activities. I can’t blame others, as we’ve usually spent about two decades in training and indoctrination. Doing anything less than stellar inside the classroom is tantamount to treason. Unfortunately, by failing to let go of this mentality, time is lost. It’s time to think about another, better way.

Here are ten reasons you should become a B student:

1. Develop a well-rounded life (and resume/CV)

In the academic world, a resume is called a curriculum vitae (“CV”), but the same general rules apply. Everything related to my studies (work, research, teaching, and clinical work), which will be used for future employment, is in this document. My CV serves as a history of involvement and diversity of activities. It says a little something about who I am and want to be perceived as. But my grades and GPA don’t represent me. In fact, I don’t even put my GPA on my CV. My goal now is to develop a well-rounded life. If beneficial experiences for future employment come around, perfect!

2. Participate in anything at the flick of a finger

Previously, I was held back when offered opportunities to participate. I remember all the way back to high school when I declined an opportunity to travel for a golf-team match because of a class conflict. School frequently came first. When I relinquished some of the focus and power on classroom materials, I could — without much concern — participate in activities that enriched my schedule and made me happy. Recently, a professor asked about serving on a committee and I immediately said yes. If it means a grade suffers, that’s an okay trade off.

3. Stay grounded with your friends

Academic endeavors never trump friendships and relationships. A class is for a semester, these people are (ideally) for life. Curiously, I think I believed this, even as an A student. I would stress over friendships while in class, and feel pressure upon leaving to study more. It was the vicious cycle. Now, friends are a huge priority in my life. Interestingly, with better, healthier friendships first, my grades got better. What strange logic, right?

4. Read for fun

In my second year of graduate school, motivated by the master note-taker, Tim Ferriss, I began tracking how many books I read. It was abysmal at first, but over the next few years it rapidly escalated. To lose myself in a good book is more powerful than a class could ever really be. It’s just me and the book — wherever we go. In the last three years, I’ve read 51 books — all while “achieving,” “publishing,” and getting fine recommendations from professors. And yet, it had nothing to do with grades. Intriguingly, like the preceding reason, my essay writing improved because of the reading. I can write faster and with greater clarity — all while maintaining a B average.

5. Brainstorm and cultivate new methods to earn

Remember how I said time is the key variable? Well, being able to renegotiate my academic schedule allows me to find ways to earn money, too. As a student for years, I cannot and do not accept the rationale that it’s okay to take on more debt to focus on academics. Instead, I redirect time gained from being a B student to endeavors like Frugaling. They’re passion projects, which hone my writing ability and have healthy income benefits.

6. Encourage creative thinking

Classrooms tend to emphasize rule-following, timeliness, intrinsic motivation, and rote memorization. And don’t get me started on the dry, pedantic, boring textbooks! I’ve rarely been encouraged to be creative within a classroom. Actually, I take that back… There was art class in third grade. But aside from elementary school, creativity has been stifled and discouraged. An essay has objective and traditionally strict expectations. The professors have grading rubrics. Staying and coloring within the lines is a must. By breaking out of the classroom mindset, I can draw, write, photograph, and participate in the world as I see fit.

7. Write for fun

I didn’t like writing when I was younger. Writing was associated with classwork. It was a chore and/or homework assignment. Writing never let me be free — it only asked of me. Then, as I stole back time, writing became a love. I process my thoughts, concerns, and inner debates in words. The words can be read back years later — providing an arc and timeline to my days.

8. Advocate within your community

I’m a firm believer in social justice. Essentially, social justice is about working to correct society’s wrongs. An example of this would be the recent advocacy for affordable housing that I worked on last semester. Vulnerable populations were being disturbed by rapidly escalating rental prices in the university/campus community in Iowa City. I felt like participating and providing a voice. My grades and classroom involvement waned. Those textbook readings and presentations didn’t much matter to direct action. I will never forget that advocating for others is far more important than an A.

9. Stop defining yourself by your grades

Grades used to represent my identity. To be an average or above average student wasn’t enough of a title. I was desperate for excellence. This drive for titles was an insecurity of mine. Without excellence, who was I? Was I a good enough student for graduate school, employment, etc.? What I learned is grades are terrible measure of a person. When I refocused my time, I lost unhealthy competition, sleepless nights before exams, and stress throughout the semester. Now, I’m defined by my actions around school — not in it.

10. Embrace the weekend

Whereas weekends used to be dedicated to studying and writing essays, now they are largely for recharging. I write for Frugaling on the weekends (usually). I read for fun on the weekends. I hang out with friends on the weekends. I run when it’s sunny on the weekends. All it took was the acceptance of the second letter of the alphabet: Mr. B.

A Eulogy For My Grandfather & Financial Role Model

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Pop and me at Le Pain Quotidien

My grandfather, Pop, passed away on Christmas Eve. Over the last couple years, he had steadily declined. His short-term memory had completely disintegrated. Pop couldn’t remember the last time we had talked, but his intelligence and spirit remained till the end.

I last spoke with him a couple weeks ago. We talked about who he’d be voting for — Bernie Sanders — and how his favorite stocks were performing. After I asked these questions, I silently cried on the phone. I realized he’d likely not make another election cycle. He was all out of votes after 92 years of life.

Pop and I spent most times talking about politics, economics, and relationships. I shared countless moments across from him in his reading nook. He sat on a donut pillow for hemorrhoids; although, he didn’t have them anymore. His mug sat on a hot plate and was covered with a small plate. He savoured and sipped every ounce of tea or coffee. It was here that learning was done.

He was the single largest impact on my economic and social beliefs. I read Marx after he extolled the virtues of communism. I didn’t necessarily agree with it all, but that wasn’t what was important. In discourse, he gave me the tools to debate politely and disagree adamantly. And he opened my eyes to prejudice, social justice, and financial inequities.

At 17, he enlisted in the Army Air Corps (precursor to the Air Force) and flew some 30+ missions over France and Germany. As a Jew, he received maltreatment from those he served and fought. It wasn’t easy service. He shared experiences talking with broken Yiddish (an old, Germanic language) to German prisoners of war. Pop wanted to learn about them. This was a perfect example of his social respect for others — no matter how “bad” they were.

Later in life, he made a friend who worked for a biopharmaceutical company who recommended Biogen Idec. After contemplating the scientific merits of the company and their products, he made an investment. It paid many times over for the last couple decades. Pop wasn’t a financial genius, but he consistently made smart decisions that put his family and future first. It allowed him to retire to a small apartment complex and enjoy the smell of fresh Santa Monica air.

Years and years of conversations with him cemented an emphasis for economic and social justice in me. As a child of the Great Depression, his perspective was forever changed. In current society, Pop didn’t like that vast amounts of wealth were being siphoned from the majority of people. He disliked that politicians weren’t doing enough to protect the average, everyday American. Taxes were a social good — it prevented a select group from pillaging from others in need.

I silently said goodbye to him in summer 2015, when I visited. But he would live a few more months before passing. Frankly, it’s hard to capture him in a list of “10 financial lessons from my grandfather,” but as one of the biggest influences on my life, I couldn’t help but say a few words to honor him.

Pop, thank you for editing my first journalistic endeavors, hugging me so tightly, brilliant financial lessons, giving the best stock-picking advice, tutoring me on Jewish culture and the Yiddish language, always having Manischewitz matzos, providing a near-endless list of dessert options after dinner, sharing the joy of Bangaleri birds, educating me on Freud and Marx, encouraging my academic endeavors when I struggled to see the light, and being proud of me. I knew you meant it, and I’ll miss your excitement on the phone after I’d say, “Hey Pop! It’s Sam.”

You’ve given me a debt of gratitude that I’ll forever try to pay forward.

As we always said, it’s time to say “chachalakas.” I hate that it’s time, but we must.

So, with tear-filled eyes, chachalakas, Pop.

Your grandson and friend, Sam

Public-Private Partnerships Pillage Graduate Students’ Fixed-Income Stipends

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dailyiowan

Graduate students are a vulnerable population

This has been the craziest two weeks of graduate school and it all started with a blog post I wrote on Sunday, November 29. It was entitled, “How Leases Trap College Students.” Therein, I talked about my graduate student housing on the University of Iowa campus. When I first arrived, it was $435. But then, a private company, Balfour Beatty, came in and demolished the subsidized housing. They built a lavish, $31 million complex.

Since then, the prices have skyrocketed about 130% since the university – a public institution – sold off the rights to build and manage a property to a private company, Balfour Beatty. Next year’s 1-bedroom leases are now going for $999. You can get better prices in New York City. The company has published all sorts of reasons and information for the prices and increases, but they never talk about the big difference: profit motive. Now, graduate students cannot afford graduate student housing.

How do graduate students contribute on campus?

Graduate students often teach, research, and assist universities. For example, I teach two undergraduate courses, conduct research, provide technical assistance, and work on special projects with faculty in my college. These efforts – for 20 hours per week – allow me to receive a tuition scholarship and stipend. After taxes, that stipend equals about $18,720.

Despite the need for graduate students and an economic engine for doctoral graduates, housing them doesn’t tend to be a moneymaker. With only $18,720 per year, they’re limited as to where they can live without taking federal aid (student loans). Most schools have used affordable graduate housing as a benefit for incoming students. Like any incentive package at work, low-cost housing attracts the talented, financially sensible, and respects the dignity of those who contribute to the milieu.

How much money can you make from grad students?

While the University of Iowa certainly has a drive for income, profiting off of graduate students isn’t the purpose. When they managed their own properties, they made enough to maintain the property. With this private company on campus, the paradigm has shifted. The profit motive was back with a vengeance.

This move towards privatization on college campuses is little highlighted or understood. Frankly, I don’t know anyone who’s talking about it – or knows about it. But the reality is that more and more public institutions are deciding to parcel out their public resources – taxpayer funded – to an elite group of market barons.

Today, I wanted to take an opportunity to break down this problem and explain how students are financially affected by privatization using Balfour Beatty. Over the next decades, if universities continue to embrace privatization, students will be holding record levels of debt. For graduate students, it all starts with their rent/housing.

Lease public resources, make it someone else’s problem profit

Unfortunately for universities, graduate student housing isn’t a moneymaker. They are hard to maintain, keep risk on the table, and place debt liability in the hands of administrators. On campuses nationwide, universities are beginning to “lease” their land to private companies, as they cannot sell public resources. These leases can be signed for decades and lead to magnificent profits for companies involved.

When a private company comes in to build new residences, building, etc. on public universities, the two organizations are signing what’s called a public-private partnership. I’m getting sort of wonky today, so bear with me. A public-private partnership is when a “private party provides a public service or project and assumes substantial financial, technical and operational risk in the project.”

Effectively, public universities who embrace this model are offsetting their risk onto a private partner. They can suddenly fire handfuls of expensive employees who provide public services. These employees ordinarily require pensions and other retirement benefits, quality healthcare, and reasonable paychecks. The replacement is simple: smaller staffs, fewer benefits, and pay cuts. It’s all for one goal: maximize profits for a select few and pillage the fixed-income graduate students.

Administrators love public-private partnerships!

Many administrators say that graduate student housing isn’t a core mission, but undergraduate housing is a core mission because universities make boatloads of profits off undergrads. Here’s a University of Iowa administrator excitedly explaining how university-managed residence halls make sense (but not graduate student housing?):

“Stange said the Petersen Residence Hall, a $53 million, 10-story building under construction and scheduled to open in time for the fall 2015 semester, will house about 500 first- and second-year undergraduates.” (source)

Despite 90% occupancy rates and a population in need (many of which were people of color, international students, young families, and people with disabilities) in old, university-controlled graduate student housing, administrators decide to spin the story:

“Hawkeye Court is at the end of its useful life,” Stange said. “They were well-maintained as best as they could. They just were not meeting needs of our current population.” (source)

Worsening the problem is the added classism and gentrification risk to these privately constructed and managed apartments. Poor people need not apply:

These buildings are intended to create “an exclusive community designed to meet the lifestyle needs of today’s student.” (source)

Calling attention to the pillaging of graduate students

For a 1-bedroom at the “exclusive” Aspire at West Campus at the University of Iowa — remember, intended for graduate students — you’ll spend $1,000 per month. Over the course of a 5-year Ph.D. (some take longer), you’d be spending around $60,000 on rent along — if prices stayed consistent. Again, that’s a generously low total.

With my graduate student stipend of $18,720 per year, I’d be spending 64% of my income on rent alone. That’s why I’ve decided to move out for the coming year. But the gentrification and heartbreak to those looking for affordable housing has been finished. The University of Iowa signed a bad deal with no deal to renegotiate. Heck, administrators didn’t even know how much the private company would charge for rent!

Now, graduate students are stuck with bill or forced to get out. That’s just not right. The university messed up.

Spreading alarm and stirring up media attention

Four days ago, when a group of us affected students began emailing and contacting administrators to tell them they have a major problem on their hands, they told us to go away. They told us it wasn’t the university’s problem; in fact, we needed to bring our concerns to the private company, Balfour Beatty. Here’s what one administrator said:

“I can sit down with [the students], but the strongest voice will come from the people who will or won’t rent from [Balfour Beatty] based on rates.”

What that administrator seems to be implying is that he would sit down with us, but we might as well talk to the company. Picture that: a bunch of students marching into a multinational company trying to negotiate. That’s ridiculous.

Well, we weren’t particularly happy with that answer. So, we kept writing statements to politicians, lawyers, administrators, the president’s office, media outlets. In three days, we had three front page stories in three separate newspapers.

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Suddenly, the University of Iowa administration had a PR disaster on their hands. And magically, that tone of changed among admin/staff at the highest echelons of the university. Now, the president wanted to meet with us because he cared about this issue. My how they reversed their tone rapidly!

But taking it from PR nightmare to significant change is a different story. While the administration debates their next actions, this story has massive implications.

When prices skyrocket, that means students with disabilities must bear the costs. When young families with children feel the cost, they must move further from campus. When international students trust the university’s marketing of this on-campus housing, they find an awful price and unmanageable lease.

Balfour Beatty has a reputation for profit over people

The company’s buildings have gone viral — trumpeting their privately constructed and managed properties across the country. Just look at where they’ve gone beyond Iowa:

  • University of Houston-Victoria
  • University of Nevada-Reno
  • Georgia State
  • Temple University
  • George Mason University
  • Texas A&M
  • UNC-Charlotte
  • University of Sussex
  • Tarleton State University
  • San Diego State University
  • Florida Atlantic University
  • Winston-Salem State University
  • Appalachian State University
  • University of South Florida-Tampa
  • Cornish College of the Arts
  • University of California Riverside
  • George Mason University
  • University of Texas-Dallas

Every place they go, an area is gentrified, low-income students are forced out and a community is transformed. When the profit motive takes over non-profit campuses, the results can be harrowing. In fact, students at the University of Nevada, Reno tried to rebel against Balfour Beatty once before, but the company wasn’t willing to renegotiate. The solutions are murky once a contract is signed, too. Only one thing can be done: universities must resist the drive to privatize public resources and everyone should know that market barons like Balfour Beatty don’t represent students’ interests — they represent their own.

Now, hundreds are awaiting the University of Iowa to respond. Thousands are affected. And tens of thousands are seeing the consequences of short-term economic gains that have long-term effects on students.

University of Iowa, we are waiting for your answer. We will be civil, but never silent.

How Many Hours Per Week Could You Work?

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Finding balance on the ferris wheel of life

Reviewing the average workweek

There are 168 hours in a week (unless you live on Mars). If you sleep an average of 7 hours per day (49 hours per week), you’re left with 119. After sleeping, work usually takes the second most amount of time at 40 hours. That leaves 79 hours to shower, eat breakfast, read the news and your favorite book, travel to work, see friends, spend time with family, cook dinner, and get ready to repeat it all day after day.

Let’s take a look at my schedule, as an example. Monday I work about 8 to 9 hours, and when I come home I usually need to put in another 30 minutes. Let’s call Monday 9 hours on average. Tuesday I work about 7 hours — that’s an easy one. Wednesday is a 10-hour day. Thursday is an 8-hour day. Then, Fridays are reserved for meetings, appointments, interviews, etc. It’s a “free” day, but I tend to fill it with work. Let’s call it 5 hours. The weekends tend to be dedicated to grading assignments and working on materials for the courses I teach. That takes up about 2-3 hours. Additionally, there are often homework assignments to be completed. That ranges from about 3-6 hours a weekend. If my math is correct, that means my workweek (including weekends) equals about 45 hours.

The variable graduate school schedule

There are peaks and valleys in graduate school schedules. Over the last few weeks I was working nearly 60-70 hours per week to write my dissertation proposal and complete all the homework assignments. As I previously mentioned, that pressure and intensity felt fantastic. I was energized and passionate. I cared about the final product.

On average, I’m looking at about 74 hours of non-scheduled time. Now, a lot of that gets lost on tedious chores and cleaning. One thing I’ve noticed about living frugally is that I need to account more time for cooking and cleaning. Eating out really is more convenient from every standpoint. By eating in, I control my spending far better and usually reduce expenditures by hundreds of dollars, but there’s added time expenditures.

Then, there are the trips to the grocery store. Errands like these eat up quite a lot of time, as the stores are large and quite a distance from where I live. It’s easy to spend about 30-45 minutes per week in the store. Slowly, as these tasks add up, my schedule gets eaten away. For the most part, it works though. I have time for everything I need to do, and usually can sit back and watch a TV show every now and then.

Upping the commitments, time at work

Now, I’m contemplating adding some commitments. Over the last few weeks I’ve been pursuing, applying, and following up regarding various work opportunities. There’s a little debt left that I need to clear out to be completely clean when I graduate, and I’m eager to get rid of it. And there are some fantastic opportunities to do just that.

In the spring semester, I could potentially increase my income by $10,000 through two additional responsibilities. But I’m struggling to wrap my mind about the loss of time. One would require a full day — 12 hours, and the other could potentially be 6-8 hours per week. Together, they might add 20 hours to my current schedule. As in, my regularly scheduled routine would now be about 65 hours per week — scheduled.

Balance between life and money

To all the doctors and entrepreneurs out there, you might know these hours exceedingly well. But as I contemplate taking on these added commitments, I can’t help but think, what will be the quality of my life? Will I actually have time for those I care about? Will I be able to complete everything that’s asked of me? Will I be able to spend time on what I’m most passionate about?

The financially minded side of me relishes the prospect of extra funds. That kind of money would revolutionize my budget and jumpstart my retirement savings. Similarly, the activities could bolster my work experience, which would help for future applications. With dollar signs in my mind, I can’t help but think these are opportunities I cannot refuse. But at what cost to my sanity?

Time and money are intriguing variables. On one hand I preach the importance of fulfillment and moderation in work. I believe that life shouldn’t be all about work – it becomes somewhat empty if that’s the case. The other side makes me think money today means less work tomorrow (should I desire it). Compounding interest and savings can turn 40-year into 30-year plans for retirement. The initial time lost could be replaced by time gained in later years.

Today, I don’t have a decision to declare – only questions about the balance between work, life, and money. How many hours per week do you work? If you were faced with the opportunity to pad your wallet at the expense of your balance, would you do it? What would you consider?

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