With the impending summer break coming there’s only one thing on my mind: money. More specifically, how most of us don’t have much! From all the plans my friends and you’ve probably made to thinking about next year’s school supplies, it’s hard for to not be a little worried about affording things. So we have researched some tips on how to save money, which we hope you will implement into your life.
1. Whether you commute to school or work off campus, the growing gas prices definitely cut into your wallet. However, there is a site called GasPriceWatch.com. This wonderful site will find the gas stations near you and tell you the lowest price!
2. No more name brands. Buying generic toiletries in bulk will help cut your spending quickly. Take a trip to Costco’s with some friends and split the bulk goods in order to save. The name brand really makes no difference when it comes to toilet paper/deodorant/shaving cream, etc.
3. Track your spending. Watch what you are spending the most on and determine if there is any way to lower the costs. Use an excel spreadsheet to see how much you spend a week and save all your receipts.
4. Use the meal plan. We spend so much money on off campus meals when we should be using our meal plans. We spend so much money getting the meal plan and yet we never use it. Sometimes we have to deal with the not-so-great food. There are no restrictions on how much you can eat in the dining hall, so eat up! Skip fast food and late-night take out. Keep snacks in your room, such as yogurt, granola bars, and chips. This is a more affordable, and healthier, alternative to late night burgers and fries.
5. Establish a personal budget. Prepare categories (food and entertainment). You can see incoming and outgoing funds easily! This is an easy way to determine necessary and unnecessary costs. It’s a bit difficult to figure out how to save without a budget.
6. Save money. Simply put money aside each week. You can start by putting a small amount of money away, either a classic piggy bank or in a savings account. It’s definitely hard to start but once you do you will be more motivated to continue. After you have seen how much you have put away, you should start increasing the amount put aside each week.
7. Avoid impulse buying. You need to think: Do you really need it? Many of the things we buy we think are necessary but they truly aren’t. Wait for a few days before making a commitment. The price may go down or you may find that you really don’t need it.
8. Drive less. Although it may be hard for some people who work or live off campus, try to avoid driving. Don’t take pointless trips if you don’t need to. With the rising gas prices it’s best to do less driving. So next time you get tired of the campus food, order in or make something in your room.
Hopefully these tips will help you save money quickly and easily. It may seem like a lot of work now, but after a few weeks you will love knowing that you will have money for the summer to enjoy random trips or nights out.
What are some ways that you save? Leave them in the comments section below.