If there’s one thing that’s for sure, it’s that college is not cheap. As college students, we have to worry about so many things; getting good grades, paying off expensive tuition, nailing internships, and having a social life. Establishing a stable financial situation can eliminate extra stress and make your college experience more enjoyable! Every little bit of money is worth saving. Five dollars here and there can add up. Here are 4 tips on saving money that all college students can try!
1. Make a monthly budget
Photo courtesy of Unsplash
It’s extremely easy to let money go away. Plus, sometimes expenses pop up when you least expect them to. It’s so easy to just reach into our wallets and spend, spend, spend. But creating a monthly budget will help you get a basic idea of how much you can afford to spend each month. Write out exactly how much money you can afford to spend on groceries, clothes, bills, and other miscellaneous activities for each month. Budgeting will help to avoid impulse purchases and allow you to keep track of your spending.
2. Download a budget app
Photo courtesy of Unsplash
Instead of writing your budget out on a sheet of paper that you’ll probably misplace, you can use of one of the thousands of budgeting apps. Mint, Goodbudget, and Spending Tracker are three apps with high reviews. You can categorize the ways you spend and get updates sent to your phone when you get close to reaching your monthly spending limit.
3. Take advantage of student discounts
Photo courtesy of Unsplash
A lot of companies support students. ASOS, Topshop, Apple, H&M, Forever 21, AMC Theaters, and dozens of other franchises offer discounts to students as long as they have their student ID’s. Carry your student ID with you all at times because you never know when you can get up to 15% off of a purchase!
4. Limit the number of times you eat out
We have meal plans for a reason! Although people tend to get sick of the cafeteria food, we have to remember that we spend money on a meal plan every semester. Eat in the cafeteria more to avoid spending your money on fast food. Make sure you switch up what you eat everyday. Or try to limit how often you eat out.