If you’ve ever said a silent prayer while handing over your debit card to the cashier, praying to some higher power that there’s more than $6 in your bank account, I’m here to assure you that you’re not alone. Yes my friends, the majority of us are living in the world of ramen noodles and “should we splurge on the $8 bottle of wine?” Adulting is hard af. And if you’ve ever been to a Target you know the game, “do I really need this?” all too well. So I’ve compiled my potentially helpful tips on saving money so that you don’t feel trapped when it comes to money.
1. Set a strict budget. How much money do you want to allocate towards food? Going out? Clothing or other fun items? When you set a realistic budget for yourself (emphasis on realistic), you tend not to stray from that. It is a lot easier to say “no” to the question, “does this item or activity fit into my budget” than it is to say “no” to, “should I really get this/do this?” If there’s something, like a concert or event or special item you really want to save for, budget for that and make sure you funnel a little money into that every week too. It doesn’t all have to be boring or practical!
2. Leave a little emergency money. If you’re like me, you’ll learn that Apple hates you. My computer crashes or breaks or suffers through a traumatic experience at least once a year if not more, and though I have Apple Care, sometimes I’m not completely covered. Make sure you budget and KEEP AWAY emergency money for situations like technology freak-outs, trips to the doctor/medications, car emergencies, etc. This way, you don’t dip into parts of your budget that you have for fun things.
3. You don’t need it. If you have to ask yourself the question, “do I need this?” I can assure you that you don’t. Yep, that hat does look awesome on you. Yes, those shoes are at an extremely low price. But no, you don’t need them. Not now, anyway. This is hard, but there will always be something you want more or something you wish you saved for. So put down the discount mug with different dog breeds painted on it- you will regret it more than you use it.
4. Meal prep and have a plan. The amount of times I go into the grocery store and just pick out items that I like or want, only to get home and realize that I cannot make a meal out of peanut butter, pesto, eggs, and frozen blueberries is absurd. Look up some meals you can make during the week, plan when you might eat them/their subsequent leftovers, and make a list. Always go in with a plan, you’ll be surprised how much money you can save.
5. Borrow! Dresses for formal? A cute pair of shoes? That new book you want to read? Hiking boots for a trip you’re going on? These are all things that you can probably get away with borrowing. Just ask around!
6. Switch to water. I cannot tell you how much money this saves. Switch juices and sodas to water, and if you can, even trade in coffee for water. If you can’t give up coffee and you’re an avid caffeine drinker, learn to make your own- it will save you so much money per month.
7. Google coupons. When you’re shopping around, search for any deals or coupons that might be online. You can save a lot of money when you just double check to see if there are any deals currently going on at the stores you need to buy things from.
8. Plan one night to go out. If you’re going out or want to grab dinner with friends, budget a little money toward that, but make sure you keep within the budget. It’s easy to say “yes” to plans when you want to hang out with people, and dinner or lunch etc. are easy ways to gather together. Try suggesting cooking all together or a picnic if you’re really struggling to stick to the budget you have for going out/eating out with friends.
These all may seem like obvious tips or things you’ve heard before, but that’s because they work. Money doesn’t have to be scary, but college is a great time to get into the habit of saving vs. spending, and making sure that you stick to a good budget.