We’ve heard it many times before: college students are always broke! However, it doesn’t necessarily have to be that way. How can you make sure you’ll have enough money for that awesome Spring Break trip to Cabo? Keep on reading!
1. Budget
The word may seem a little intimidating, but learning how to do it will do wonders to your bank account. Start by looking at how much money you have for each month, then subtract recurring expenses such as phone bills, tuition, textbooks, and rent. Then decide how much you want to save for each month, and anything you have left is free spending money. However, if you need help keeping track of your expenses, the Mint and Level app are great options!
2. Keep An Eye Out for Sales
We all love a sign that says sale or 70% off on it, but it’s important to realize that sales are great for saving on things you actually need. Buying items just because they are cute and on sale is not effective shopping. Yes, the black version of your favorite red coat is 40% off, but do you truly need to spend $100 on it?
3. Start Couponing
Another awesome way to save on necessities is couponing. You know those crazy long receipts you get at CVS? They are basically money saving heavensents. From toothpaste to makeup, you can save on essentially any last minute item you buy in your go-to “convenience store.” After all, all us car-less campers rely on daily CVS trips.
4. Pay Your Dues
Chances are you are starting to build your credit, and acquiring debt is not the way to go. Although it might be tempting to buy a cute bag that just came out and just put it on your credit card. If you know you won’t be able to pay it off in less than a month, don’t do it. This also goes for bills, make sure to always have a reminder to pay on your planners, or set up your phone calendar.
5. Learn to Have Fun Without Money
Dinners, bars, shopping trips… Our generation has learned to entertain themselves with money, which is not always a bad thing. Even still, it is important to remember that you can still have fun without it. SU offers various shuttles that will take you to many places for free. South Campus has various different hiking spots, and movie nights are extremely underrated!
6. Make Your Own Coffee
Yes, ordering coffee or tea at your local coffee shop is a lot faster and easier, but you’d be surprised at how much you are actually dropping there every day. Having your own Keurig or French Press is an investment and will save you tons of money in the long run! Plus, you’ll be helping the environment by eliminating all those disposable cups.
7. Carry Cash
Your parents always say this and you probably think that they don’t understand how the world works anymore. Nevertheless, there is a reason why what they say matters. If you put aside the amount of cash you are allowed to spend for each week, you are less likely to overspend. After all, swiping a card is a lot easier than counting quarters.