A Tale of Woe – Olivia’s Story
Take Olivia – she’s way in over her head. Before college started, she worked all summer and saved enough for necessities. Because her income, combined with that of her family, qualified her for an EOP (Education Opportunity Program), she got a stipend every two weeks. She knew she wouldn’t have time to work while carrying a full load of courses, so these funds were the only cash she had besides her summer savings. She opted for a direct deposit, so her stipend was electronically transferred her bank account. No waiting on lines for checks! Her mother sent her a mail packet each month, which included her bank statements.
After Olivia started school, she found two things that helped her de-stress from her workload: video games and footwear! Now these are pretty harmless indulgences – after all, she wasn’t into compulsive gambling, didn’t do or buy drugs, and didn’t care at all for that pricy bling that her roommate is fond of. She felt she deserved some downtime and loved computer games – which she never let control her time. Olivia also loved boots and shoes, and in the winter, she loved the feel of those warm, fleece-lined boots so much, she just had to have a blue pair, and then a pink pair, in addition to her brown pair… After all, isn’t variety the spice of life?
You tend to connect with people with similar interests, and Olivia knew about the best deals for games and for boots. She soon became known as the premier shopping consultant in her residence hall, helping others find the best bargains. And when she saw a good deal, she thought “why not take advantage of this sale?” She hit the ATM and got a little something for herself or lent a friend a little cash – Olivia was always considered generous – and began to rack up a long list of friends.
Fourteen weeks into her first semester, she went to the ATM for another infusion, and saw that her bank balance had dipped below $40! Then she recalled that stack of envelopes she had stuffed into her desk drawer…and you can probably guess the rest. Olivia’s mother couldn’t afford to help her out the next semester, and Olivia’s grades started to slip when she couldn’t buy the books and lab materials needed for her courses. She spent a lot of time borrowing them from classmates, and put four pairs of her beloved boots up for sale on eBay.