I'm thinking of putting $500 of my scholarship towards booze.
That's a terrible idea. Why would you do that?
Because I think it's a great idea.
Your scholarship money is meant for your education. If you waste it on things like liquor you soon find out that you're depriving yourself of things you need for school, like books or dorm fees.
But I can get cheaper liquor at the liquor store right next to school.
It may seem like a bargain, and it feels like you have money to spend, but you need to remember that you will have important expenses coming up while you are in school. You should hold onto that money, and use it for things that will further your education, and later on, you will find that the benefits will feel much better than the fun you could have had drinking.