It’s no secret that most college students are a little light in the wallet. In fact, it’s a commonly acknowledged cliche, trope, or whatever you’d like to call it. However, that doesn’t mean we have to succumb to the economic pressures of the world today.Â
Disclaimer: these saving tips are about things that you have a choice about. Obviously, I can’t talk your landlord into taking down your rent, and I can’t hack the utilities into being cheaper.Â
With that in mind, here are some things I do to preserve my bank account while living an adventurous life full of side quests, excursions, fashion, and fun. My credentials? I haven’t touched my savings account since moving to Boston. Also, no credit card debt!
It’s helpful to think about what you spend the most extraneous money on. Is it clothes? Shoes? Online shopping, or shopping in person? Snacks? Meals out? Once you identify that, then it’s easier to cut down in specific areas.
For fashion, thrifting is a pretty obvious choice. I haven’t bought clothes that weren’t second-hand in who knows how long! There are other environmental and ethical reasons behind that, but I can safely say it makes a difference. There is a certain kind of joy that comes from giving new life to clothing that might have ended up in a landfill anyway, and I find the thrill of finding good pieces very exhilarating.Â
Another important piece of spending sustainably is making sure the things you buy will last the test of time. It’s a total waste of money to repeat purchases because you buy things that break, tear, or stain easily!
In the battle of online shopping (the true killer of shopping malls, don’t get me started), it is too easy to one-click purchase and get it out of your head. The key to avoiding this is to slow down the process. See something you absolutely have to have, no question? Screenshot it and save it for later. Whatever you do, do not proceed to checkout. If enough time has passed and you’re still thinking about whatever is sitting in the shopping cart, then you can reevaluate and potentially purchase.Â
The goal of this is to eventually decrease or even phase out online shopping. It’s a big drain on your resources, and it takes away from physical stores. Controversial, I know, since online shopping is so convenient. But by 2027, mobile commerce sales are expected to account for 62% of all retail sales, according to Forbes.
When it comes to snacks and meals, take advantage of your school’s resources! Chances are, you pay for a meal plan of some kind. Being a college student may also guarantee you access to discounts such as GrubHub+, not to mention the events that organizations constantly put on to offer treats and discounts. Read your emails!
Besides spending, saving is also important. Here’s one thing I like to do to save: If there is ever an instance when I don’t end up buying something I planned on, I declare (no, seriously, declare out loud to myself) that that money is off limits. It gets moved to savings whenever I have the time, and before you know it, it’s money in the bank!
The real secret is to be thoughtful about your spending. You only live once, but this life is what you make it.
Don’t regret your purchases!
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