No collegiette likes an empty bank account and a brand new city for an internship or the excessive downtime that summer brings can unfortunately lead to the dwindling of your precious funds. I know I don’t want the beautiful weather and joy of no schoolwork to be overshadowed by financial stress. But what’s a girl to do? We all love our new (and obviously cute) summer clothes and beach accessories.
Trust me, there are ways to have your summer fun and still maintain a positive balance on that banking statement. So ladies, here are 10 tips to help you spend wisely this summer, which will keep your wallet healthy and you happy! [pagebreak]
1. Check the local papers!
While the New York Times and Washington Post are great resources for the current events of the world, local papers will likely be a better fit for your money saving agenda. You can find these papers around the city or town you’re living in and they will provide you with some insight into cheap or even free events around the city! From free food or wine tastings, county fairs or flea markets, the event sections of these papers are loaded with great ideas to fill your time without the expense.
2. Buy a metro or subway card with bulk rides!
If you know you’ll be riding the metro, subway or other means of public transportation a lot during the summer, then buy a card with numerous rides on it, rather than an individual ticket every morning and afternoon. You might not see the difference right away since the multi-ride cards can be initially expensive, but if you do the math you’re likely saving hundreds of dollars.
Also, check to see if they have a card for students. Be careful with this since some cities require you to be a student in that city whereas other cities just want to see a university or college ID of some kind!
3. Ask for student discounts!
You’ll be pleasantly surprised when you start asking around at places to see if they offer student discounts. And get inventive! Many retail stores don’t have the awesome 20% discount for students like J.Crew but maybe a local clothing boutique does. The same goes for Starbucks versus the quant café on the college campus next to your office building which likely caters to students and therefore, isn’t as expensive. If you’re not sure where to start, ask around at your internship or job or reach out to college kids you know in the area.
Also, remember those Happy Hours (if you’re 21+). Most bars in big cities offer some sort of happy hour with drink specials and if you’re lucky free food. Take advantage of them- you’ll get the same vibrant environment at 7 p.m. as you will at 12 a.m,, but without the spike in drink prices. [pagebreak]
4. Work out outside!
We all love our spinning, yoga and Pilates classes, but they may need to be put on hold this summer. Try running outside instead for exercise or doing the routines on your own in your room. You’ll probably find that the effects of the workout are extremely similar to the effects of paying for a class in a studio.
If you really can’t stand not having your weekly class fix then gym hop! Most gyms offer great classes and have a free one to two week trial. If you’re not staying on a college campus with access to a gym, then use these free trials to explore classes elsewhere.
5. Get creative about those luxuries!
I love my pedicures more than anything and smoothies are my fave. But the expense of paying for these items is absurd! Instead, I plan on learning how to paint my own nails (as professionally as possible) and buying a smoothie recipe book so that I can make them in my own kitchen at a fraction of the price. The same idea goes for a daily fro-yo fix, and manicures that we all know we love.
6. Make your own coffee!
This idea is similar to #5, but is important to point out. That $3 latte or iced coffee you’d die without (caffeine addictions are not uncommon in college) will seriously add up and drain money that could be spent on beach trips with friends or a cute new dress. Think about it: if you spend $3-$5 every day for the 3 months of the summer that’s $360! Buying a coffee maker would save you over half of that money and you can wake up a little later since you won’t be standing in the rush hour line at Starbucks for 20 minutes every morning.
7. Don’t ‘Drunk Eat’!
Those late night munchies are killer for your bank account. Six dollars here, ten there and suddenly you’re out more money than you thought. This is especially dangerous because you don’t realize what you’re doing when you’ve been drinking. Giving yourself a pep talk or eating a big dinner will help curb those late night cravings and not only save your bank account, but your waistline, too! [pagebreak]
8. Bring your Lunch to Work!
Getting lunch everyday with your co-workers can be great bonding and networking time, but for many working gals in big cities, this could put you out $10 to $20 daily. Instead, make your lunch the majority of the week and grab lunch with the office the other days. Or better yet, ask them to get it to go and go sit outside and have a picnic. You’re cooped up all day in the office, why sit inside a restaurant?
9. Involve your friends and family!
Let your family and friends know that you’re trying to be financially responsible over the summer. If you can, go home for family dinners and for your friends, suggest a potluck so everyone is splitting the cost. Likely, your friends are in the same position as you and would be happy to have movie night at someone’s house rather than spending $15 in the theater. If you find yourself missing out on things your friends are doing due to money troubles, don’t panic, but rather suggest fun things you can all do together that aren’t expensive.
10. Get a job!
Yes, you knew this was coming. Sometimes you need to get a job, or in some cases a second job. It sounds awful since you probably just came out of studying and taking finals, which we all know is a full time career on its own. But, search for something that would make you happy! Do you like working with kids? Look for a babysitting job or a camp counselor position. Is outdoors your thing? Offer to walk the neighborhood dogs or check out your local reservoir or even beach for open positions. Jobs don’t have to be awful and since most kids are working over the summer too, you’re likely to make new friends and have a great time.
Do you have any other advice for collegiettes looking to save some money this summer and still stay sane? Feel free to comment below or tweet at us: @HerCampusJHU!
Sources:
Friends who’ve lived in cities with unpaid or minimally paid jobs or internships, personal experience (!) and these wonderful websites:
http://www.brokegradstudent.com/7-ways-for-college-students-to-save-money-over-the-summer/
http://money.howstuffworks.com/personal-finance/college-planning/financial-aid/college-savings11.htm
http://www.universitylanguage.com/blog/18/saving-money-college-student/