I have to admit, I am not the best at saving but neither are most college students. The truth is that it’s always better to start earlier in terms of having habits of saving.
- Choose your purchases wisely.
This is a very logical and easy tip that a lot of us seem to neglect. In the back of our minds, we all have several items that are high-quality and on the pricey side but we are so quick to buy anything in the window. A lot of minimalists will agree that quality is more important than quantity. Having a lot of things you don’t need will actually lessen the value of what you do have.
2. For those that love shopping on impulse, think about the cost divided by estimated usage. Set a low number (such as 0.05) and if the number you have calculated is as low or lower, it’ll be worth it.
3. Always make sure that you make a spreadsheet or note what you spend per day and how much.
Figure out what you spend on and make note of whether it is important or essential or if it can be saved for future.
4. Set aside a “play” money for spending and then a “save” for future and make sure that these two are entirely separate.
When you keep these as separate as possible, it will be so much harder to spend money that you are planning to save.
5. Sell what you don’t need!
Seriously. Raid your closet and get rid of what you don’t need and set that money aside as well.