For all of our young adult lives, we look forward to the day where we get to say goodbye to the ‘rents and say hello to college life. The liberation that we have so desperately sought for so long has finally come. No more curfews, no more rules, no more…money? Okay, maybe we don’t actually look forward to that last part but it sure as hell slaps us all in the face a month or two in.
Money might not buy happiness, but it can buy me something other than Ramen for dinner seven nights a week, so I’ll take it. The savings experts at TaxSlayer, leading online tax service provider, understand the struggle and have compiled a list tips to help students save while in college. I, in turn, have so eloquently translated them all into broke-FSU-student language (you’re welcome). I don’t know about y’all, but I could use the help.
1. Go on a cash diet.
Now, this is going to take some self-discipline, ladies: Take out an allotted amount of money for the week or month and ONLY spend what you take out. If your “entertainment” budget is $100 per month, pull out $100 at the beginning of the month and spend it wisely because once it’s gone, you’re done—I’m serious, stay away from the ATM, Collegiettes. The cash diet may sound a little extreme, but it you’ll know exactly how much you have and there’s no fighting math.
Courtesy: Business Junkee
2. Try the 52-week money challenge.
Take the money you save from the cash diet and open a savings account. How it works: There are 52 weeks per year. Start off week one by saving $1; then week two you save $2; week three you save $3, etc. When reaching the last week of the year, week 52, you’d deposit $52. This is super do-able, and by the end of the year, you’ll have saved $1,378!
Courtesy: Someecards
3. Get a caffeine buzz without breaking the bank.
Not only is the Stroz Starbs line the definition of hell (especially now that PSL season has begun), but it’s probably costing you upwards of $800 a year. Sound ridiculous? Multiply that Grande Vanilla Latte upcharged for soy and an extra shot by 365 and you’re there. Splurge on a quality coffee maker; it’ll cut costs and save time. If tea is your drink of choice, BYOB – hot water is always free.
4. Be a social deal seeker.
The best thing about living in a college town is that we are all in the same boat—borderline broke. Steer towards more low- or no-cost activities like picnics, pickup games and free outdoor festivals. Also, scope out deals on daily deal sites like Groupon, LivingSocial and Gilt. Believe it or not, you can save upwards of 50% on everyday activities and new adventures.
Courtesy: Student Printz
5. Take workouts outdoors.
A gym membership can cost anywhere from $10-$100 dollars per month—OUCH. While I’m tempted to just say, to hell with it! Who works out these days anyways?! there’s a better solution. Save your cash and work out outdoors! Bike riding to class, jogging in the evening or taking a brisk walk around campus can all help burn off that 2:00 a.m. Gumby’s from last night without breaking the bank. You can also try taking advantage of the free group fitness classes in the Leach. Want a real challenge? Try spin or Cardio Party— those girls are no joke.
6. Rent that book!
We all know that textbook prices are astronomical. You might be surprised to find that the library has most textbooks on hand for your use. Can’t find anything there? You can rent a book for an entire semester… or just for the last two weeks of finals (who are we kidding?) Renting lets you cut book costs in half, saving hundreds of dollars.
May the savings be ever in your favor, Collegiettes!