If you’re anything like the typical college student, you’re probably not in a position to be eating out every single night or buying things online every single week. But just because you need to be smart about how you spend your hard earned money doesn’t mean you have to cut out fun all together! Here are five simple life hacks that can help you live in the moment without adding to your already mile-high debt.
1. Turn loose change into your coffee budget
Nobody likes carrying change around, so whenever you find yourself with some coins put them into a jar or piggy bank in your room just like when you were little! Saving up any loose change you accumulate over a couple of weeks is the perfect way to give yourself a coffee budget, since you’re less inclined to dish out coins on a larger purchase. Cash your coins in at a Coinstar location for a Starbucks gift card, which you don’t have to pay any extra fees for, and voila – you’ve got yourself some coffee money you don’t have to feel guilty about!
2. Get cash for old clothes you don’t wear anymore
If you find yourself wanting new clothes to wear each season (or maybe even each month), try to offset the cost by getting some cash back for clothes you don’t wear anymore instead of throwing them away. There are many boutiques in downtown Corvallis that will give you cash for your gently used clothing, such as the Clothing Tree and Second Glance. You can also easily put your clothes up for sale on consignment apps or Facebook pages such as Corvallis Resale Clothing and OSU’s Free & For Sale Page, which can hook you up with locals who are looking for some cheap steals. These pages can also be a great and affordable way to update your own wardrobe as well!
3. Dollar Tree is a godsend
No one cares where you buy your household items in college, so why pay more than you have to? There are two Dollar Tree locations in Corvallis, and both of them carry basically everything you need for college life including school supplies, dishes and other kitchen supplies, makeup, toiletries, decor, and even some clothing and food items. The best part? Everything’s a dollar!
4. Buy foods that will last you for more than one meal
If you live off-campus, you have tons of control over what you buy and eat. Try to purchase large quantities of staple foods such as rice, pasta and veggies that can be used for multiple meals as opposed to buying smaller, pre-made portions. While these can be awesome for the occasional quick meal (top ramen, duh), it is generally healthier and more cost-efficient to buy foods in bulk, even if you do have to prepare them yourself.
5. Download a budget app that will help track your costs
Budget apps, such as Mint, are an amazing and FREE way to track your spending. They allow you to set budgets for yourself each month for categories such as coffee, fast food, clothing, entertainment and more. Once you set categories on your phone and connect your bank account, the app automatically sorts out your purchases to show you how much you are spending in each of the different categories, making it easy to know when you are going over your personal budgets. The only downside to this is that you can set and change your own budgets, so be sure to keep them at reasonable levels and only change them if you really need to and can afford to splurge!
Just because you’re in college doesn’t mean you can’t have a little fun and spend your money on things you want and care about! However, with great power comes great responsibility. Try out these tips and see if they can help you save money in different areas so that you can have some extra cash for that spontaneous night out with your girlfriends.