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 5 tips on saving money that all college students should try!
1. Make a Realistic Monthly Budget
It is extremely easy to let money fritter away. Plus, sometimes expenses pop up when you least expect them to. It’s so easy to just reach into your wallet 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 Budget Apps on Your Phone.
I don’t know about you, but my phone stays in my hand at all times! Instead of writing your budget out on a sheet of paper that you’ll probably misplace, be more realistic by making use of one of the thousands of budgeting apps. Mint, Goodbudget, and Spending Tracker are three apps with high review. 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. Make Use of Student Discounts
A lot of companies support students. Amtrak, Greyhound, 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. Put a Limit on Eating 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 cafeterias more to avoid blowing your money on fast food. Make sure you switch up what you eat every day. A burger and fries will not only get boring after a while, but it’s also totally unhealthy.
5. Get Involved On Campus
Organizations on campus require you to pay dues so that they can organize events for its members. Once you join a club or organization, go to the monthly events that they hold on campus! Nine times out of ten they are free. Instead of going to a party that costs $10, or going to the bar where you have to spend upwards of $15 per drinks, go to the free events on campus! You’ll have a good time while saving money.
Whatever your financial situation may be, there’s always moer room to save. Whether you’re saving for a trip, that bag you’ve been eyeing at the mall, or simply taking the responsible route to save for the future these tips are sure to get you to your goal.