Let’s face it: saving money is HARD. But, when you need to pay for tuition, health insurance, dorming, living expenses and the (perhaps not occasional) fun night out, saving money becomes a necessity. If you’re like me and have tried all the usual tips and tricks your parents and uncles have passed down and you still feel like you’re bank account isn’t going anywhere but down, try these real-life-tested tips instead.
Try a “Controlled Spend”
Whenever people say “just don’t buy anything,” I wince a little. Somehow, the very idea of not being able to spend anything makes me want to buy everything. I tried and failed multiple times to do a “no-spend,” for a week or month, but realized in the end that it never worked. So, I tried a “Controlled Spend” instead, where I limited myself to one purchase per week on anything I wanted. What I found was that I would make smaller purchases and I made them less often. For example, I wanted to get some new tops, but I could only make one purchase that week so I waited for a sale at my favorite store and stocked up there instead of shopping the internet and finding a few shirts at 6 different places. It also worked for food. I really was craving take-out, but decided to have just one lunch out on the town instead of my usual 3. The $20 I was saving per week paid for an entire grocery shopping trip by the end of the month.
Sell Your Textbooks – but not to the Bookstore
I loathe buying textbooks. They are so expensive and more often than not I only crack them open once or twice anyway. Throughout my years in college I found a way to make my dollar stretch farther when it came to textbooks. Whether you buy them new or used, sell them back! But don’t just waltz into the campus bookstore and hope that you’ll get the best price (hint: you won’t!). Instead, spend some time online getting quotes from places like Textbooks.com, Amazon and Barnes & Noble. Usually they pay the shipping for you and all you have to do is wait for the check to arrive. And, if you feel like you just aren’t getting enough money for that like-new condition book, wait until a new semester starts and the demand is higher. You’ll almost always get more for your books then.
Bonus Tip: If you or your friends buy textbooks from online in the beginning of the semester, save the boxes and re-use them to ship the books back when you sell them. Use cheap rolls of masking or packaging tape and newspapers as padding. That way, you don’t even have to pay for packing material.
DIY Your Favorite Fast Food
Salads and sandwiches are great and all, but sometimes, I just want some Chipotle. But eating out can get expensive and honestly it’s not that healthy for you anyway. Instead of turning to a mini-mall to get your fix, research copycat recipes online and get cooking! With simple and cheap ingredients, you can make enough meals to last a week or more that will satisfy your cravings and keep a little extra money in your wallet.
Use Cash & Save the Little Bits
I’ve had a credit card since I was 18, and after a few years I realized I wasn’t thinking twice when I would swipe it at a store. Instead of constantly using my card, I started taking cash out at the ATM and buying everything I could with that instead. I often spent less when I had to hand over bills and when my wallet was empty, I knew it was time to stop. But, if you’re making an impromptu or particularly large purchase (groceries tends to be mine), use your card and make it a point to put the cash in your account right away. That way, there’s rarely a deficit there.
By the way, loose change and single dollar bills add up if you put them in a jar every time you receive change. By the end of the semester you’ll have accumulated a good chunk of money you didn’t even realize you had.
Become a Coupon Clipper
I used to get really annoyed at those people who stood at the register while the cashier scanned 50 coupons for their 60-item purchase. I always thought it was a waste of time. But, with couponing apps like Cartwheel from Target and online resources of coupons and discounts for anything and everything, the extra $1 it’ll save you on the necessities makes it worth it. Think about it this way- you have to buy toothpaste, and if every time you bought it you saved an extra $2 with a coupon, how much money would that save you over the next five years? So, get to it!
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