(Disclaimer: This is all from my personal experience. I am in no way a financial advisor and have no education whatsoever in finance. These are personal techniques and may not work for everyone).
One thing I realized when coming to college is how quickly money disappears. Seriously where did the money I made over summer go? From last minute trips to snack runs, money is going out and not coming back in.
Not being able to work while away at college can be difficult. I have never been much of a spender. I like to save my money on things I really want or need. However, once I came to college, I somehow lost the ability to save money.
I learned from my first semester, so here are four ways to help save money in college.
Avoid Overstuffing Your Closet
I thankfully never had a shopping addiction and rarely spent my money on expensive clothing items. It is extremely normalized to spend money on clothing almost every day. While I would love a new top all the time, it is not practical, especially some of the big brands that are super expensive. I prefer shopping during sales so I can get more pieces for less. I can have variety in the closet and still be saving money.
ask yourself what you value most
One of the main things for me is determining what I value most. When deciding whether to buy a tangible object, I first think about whether I would rather spend that money on an experience. A lot of my money went towards traveling to new cities, going to the movie theater, going bowling, or doing other fun activities with friends. I do not wish to stop spending money on these things because I created memories with them. I did not create memories by buying another sweatshirt.
Don’t even grab the cart
The weekly Walmart trips really destroyed a portion of my bank account. The point of the trip would be for something I would need, but somehow, I always came out with a bigger cart. Why would I even get a cart if I knew I only needed tissues? Rookie mistake. Movie snacks, candy salad, games, cookies to bake when I was bored…I made an excuse for everything. I like treating myself to a goodie here and there, but it should not be every week. It is all about limiting.
The dining hall might have to do
The same goes for dinner and eating out. Last year, I went to Chipotle, Dunkin, and other fast-food places for meals a fair amount. A dinner at a restaurant can cost up to $15 or even more. While it may not seem like a lot when swiping your card, doing it often will add up. I learned to just be conscientious when deciding between my food options. Not eating out as often definitely has an impact for me.
It is important to keep up with your spendings and not just ditch checking up on your bank account. It will be a shocking view if you do not look until the end of the semester. I hope these few tips can help!