A College Girl’s Guide to Saving Money While Still Doing the Most

College is known to be the best four years of our lives, but a lot of fun experiences cost $$. Follow this guide so you can still treat yourself without totally breaking the bank.

 

  1. Save those tips

If you have a part-time job where you earn cash tips, SAVE THEM! Rather than tossing the change into your purse or spending those few bucks on your next coffee run, collect them. I saved over $200 in about a year by doing this. You can either treat yourself with your hard-earned money, deposit it into the bank, or use it for an emergency. No matter what you choose to do with the extra cash, you’ll thank yourself for it later.

 

  1. Consider mobile banking

Most banks offer a mobile banking feature. This allows you to view your accounts whenever you want. I absolutely ~love~ mobile banking because it holds you accountable and monitors spending. We can all agree that seeing money come out of your account is never fun, so becoming aware of your spending habits will help you make necessary changes. You can also opt-in to receive alerts to always be on top of your finances.

 

  1. Take advantage of cash back

If you’re anything like me, your credit card is your #BFF. This student credit card from Discover offers 1% cash back on all purchases and 5% cash back at specific places each quarter. You can use the cash as a credit on your statement, deposit it, receive gift cards, and more. Not only are you earning money while making purchases, but you are also slowly building your credit score which will help post-college.

 

  1. Use your savings account

Something that helps with saving money is to keep your checking account low and savings account high. When payday comes, keep a certain amount of money in your checking account to make payments, cover bills, and of course maintain the minimum amount your bank requires. Try to transfer anything over that amount into your savings right away to save and earn interest. This also prevents overspending because once it is out of sight, it is out of mind!

 

  1. Think about it

Between classes, jobs, and other involvement, our schedules are packed and time is valuable. When making a purchase that might be considered a want rather than a need, think to yourself, “is it worth the work?” This definitely keeps my spending in check because sometimes the cute pair of shoes isn’t worth the 6 hours you had to work to earn the money for them! 

I am by no means a financial advisor, but these are some tips and tricks that helped me save extra cash while in school. Saving money is very important, but you should never feel guilty for spending some of it. Remember, you worked hard and earned it. Don’t be afraid to treat yourself every once in a while, just make sure you are responsible while doing so. It’s all about finding a balance!