Do you ever find yourself in a store, wallet open, suddenly sucked into the dark vortex of cute clothes and fancy new gadgets?
Are you jobless or on that unpaid internship grind?
Here are some tips to help you make it through the summer – and the school year – without breaking the bank:
1. Carry cash – Actually seeing how much money you have means you’re more likely to think about how much you’re spending, rather than just using a plastic card.
2. Sign up for online banking (AND USE IT) – Most banks have it, and so should you. Get the app if it’s available. Pick a day to check it every week so fees or a low balance don’t catch you off-guard.
3. Buy store brands – CVS face wash can work just as well as a brand name for less money, since most of the ingredients are the same. Store brand food is often just as good, too.
4. Sign up – Stores offer rewards cards for a reason. Getting a VIC card at Harris Teeter or a CVS card will save you tons. Plus, you get rewards and deals in return for spending money!
5. Don’t throw out your receipts right away – Especially at the beginning of the semester, pay attention to how much you spend on what you need. You’ll quickly figure out which store has the best deals, and next time, you’ll know how much your trip should cost before you leave your room. It may be a pain, but keep grocery receipts for a week, just in case. If you buy a new appliance or electronic device, keep the receipt for the full 30 days so you can decide if you like it or even need it.
6. Treat shopping as business – Make a list and stick to it. Don’t let yourself wander around the store for longer than necessary. Go in, get what you meant to buy, and get out. This efficiency will keep you from buying things you don’t need.
7. Use the $5 bill rule – Any time you find a $5 bill in your wallet, put it in a jar or envelope and keep it until the end of the summer/semester/year.
8. Keep a change jar – No joke, I had $30 in change at the end of fall semester and got stopped by TSA when I tried to bring it home. Instead, learn from my mistake and take it to the Coinstar at Harris Teeter or to your bank to cash in. You’ll be like: That’s how much was in my desk?
9. Sharing is caring – When it comes to clothes, go shopping (with permission) in your friends’ closets for that next eating house event. Every time you don’t buy that dress you’ll wear once equals more $$$ in your pocket. Reach out to members of your eating house, hallmates, etc. All of you will be like:
10. Be honest with yourself – Think about how often you’ll actually use something, and divide the price by that number. Sometimes, that furry vest just isn’t worth what the tag says it is. Also, consider how many other items in your closet you can wear with a furry vest. If it’s only that one pair of pants, you may want to reconsider.
11. Make dinner – Instead of eating out, have everyone in your crew put in a few bucks and cook dinner for yourselves. It’s cheaper and a lot more fun than just going out to that same restaurant.
12. DIY, DIY, DIY – If you think you need to buy something, see if you can make it. Become one with Pinterest and head to Value Village for craftable items that cost next to nothing. And you can say, “Look what I made!”
13. Be your own boss – There are tons of families that need baby/pet-sitters during the year, especially those of Davidson professors. Start your own sitting business and take advantage of those opportunities. A few hours a week really adds up!
Most importantly, learning to be smart with your money now can only help you in the future, so get savin’! Practice makes perfect. I promise at the end of the year you’ll look at your wallet like:
Enjoy the summer saving, collegiettes!