It’s a new year and a new semester – so the perfect time to commit to something new, like saving a little money and not blowing your every paycheck on yet another online shopping spree. I know it’s hard to save money during college, when you’re probably not making much at your job in the first place and there are so many things a girl’s gotta pay for, but this semester I’m trying to cut back on excessive spending and start saving more and I challenge you to do the same with this plan (or any savings plan that ends up working best for you!).
1. First things first: if you’re currently unemployed, try and look for a part-time job on or around campus. Even if your parents are still footing most of your bills, there’s a lot of personal fulfillment and a new sense of responsibility to be gained with some funds that you solely earn and control. On-campus jobs at OSU are honestly the best because they pay above minimum wage and work around class schedules.
2. Once you’ve secured that part-time job, commit to putting away 10 percent of every paycheck into a savings account. Huntington Bank offers great options for student savings account if you don’t already have one, or if your savings account is currently attached to your parents’ accounts. This amount may not seem like much, but it will add up over time.
3. Stop spending so much money at restaurants and bars (I’m so guilty of this)! Money spent on food and drinks can add up super quickly without you even realizing. Try to grocery shop and plan out meals ahead of time each week, instead of eating out or getting takeout frequently. Also, bring a set amount of cash when you go out that you plan on spending, and actually stick to this amount. I would recommend still bringing your debit or credit card in case of emergency, but tuck those away in the back of your purse.
4. Use the COTA bus system! Your BuckID doubles as a COTA bus pass, and you pay a fee for this convenience in your tuition bill, so you might as well take advantage of it. I always find myself Ubering everywhere slightly off-campus, whether it be a restaurant in the Short North (yes, I know I just talked about going out to eat less), job interviews downtown or the grocery store, but COTA bus travels to pretty much any area throughout Columbus. Try checking out the bus routes next time you need to get somewhere instead of paying for an Uber.
5. Have a long-term goal in mind of why you’re saving money. Why do you want to save money? Is it to pay off student loans? Is it to afford graduate school? Is it to go on a trip to Europe with your best friends after graduation? Is it to become financially independent? Is it just to have an emergency fund? Even if you don’t have something specific currently in mind, try to motivation(s) to save. When you have an end goal in mind to visualize, the path to getting there is so much easier.
Best of luck, ladies.