Budgeting and saving money are always on college students’ minds. At the same time, some expenses can’t be avoided-–plus, we like to treat ourselves every once in a while. Fortunately, it is possible to save money even when you are tempted or obligated to spend it. Here are some strategies:
Wait to purchase
If you see something that appeals to you, don’t buy it right away. Waiting to purchase gives you a chance to think it over and decide how badly you really want something. Sometimes, the item sells out, saving you from an impulse purchase. Other times, it might go on sale, and you’ll be glad you waited.
Think holistically
Rather than purchasing something because you like it or because it’s trendy, think about how it will fit your lifestyle. That fun lamp doesn’t fit the theme of your space. That purse may be cute, but it might not match the rest of your closet. Focus on the overall impact of the purchase on your space, wardrobe, and daily routine.
Think long-term
Before buying something, ask yourself if you could see yourself using it in the future. How long will it last? How often will you use it? Will you still need it after graduating? Could you pass it on to your potential future children? Prioritizing longevity can help you make smarter and more sustainable choices.
Be wary of scamsÂ
Scams are everywhere–-online and in person. Online, telltale signs of scams are a lack of reviews, suspiciously-low prices, and misleading photos. In person, though there are certain advantages, be cautious of sellers who remove price tags or ban photos to prevent comparison shopping.Â
Check the composition
Some things might look nice to the naked eye, but appearance isn’t everything. Composition is a key indicator of quality–and, in turn, a reasonable price range. Plastic and synthetic materials are cheap and should be priced accordingly while genuine materials like leather or gold usually cost more (and are more durable). Understanding composition helps you judge whether a price is reasonable or inflated.Â
Look for alternatives
Some things are just way more expensive than they need to be. Depending on what you’re hoping to use a purchase for, consider looking for a less-aesthetically pleasing or short-term alternative (that should hopefully be cheaper).