Most college students are living on a budget and if they’re not, then they are creating a ton of debt for themselves. Are you tired of not having money or when you do have money it doesn’t last very long? If you answered YES, continue reading. Fortunately you don’t have to be “that student” who’s always broke or living in debt. Here are 5 easy tips to help you save money and stop digging yourself into a circle of debt.
1. Leave your money.
Yes, this may sound crazy but if you “accidently” leave your money at your dorm then you won’t be tempted to stop at the local coffee shop near campus. Did you know that most college students spend their money on coffee? If you’re like me then coffee is an essential especially with a heavy workload. Buying a box of coffee at your local grocery store will help you save more of your money then buying coffee 2 and 3 times during the day for about $5 per cup.
2. Say NO.
Banks love to trick college students into getting credit cards. Don’t be that student to get tricked. Although, you don’t have pay right away you will eventually in the end. So I believe that if you have the money then get what you need and if you don’t, then there’s a sign you don’t need it.
3. Track.
Make a list of all your spending and it will help you save money. By doing this you will be able to clearly see where your expenses are going and the areas where you may need to cut back from spending, such as buying dinner every night. Instead treat yourself to dinner on the weekend instead of 7 days a week. Grocery shopping is cheaper or investing in a meal plan, like a 5-day.
4. Needs v. Wants.
Spend money on the things that necessary! It’s ok to treat yourself occasionally on a want but not all the time.
5. Rent or Use.
Books are sooo expensive, but for you they don’t have to be. If possible, get a list of your books right after you register for classes. Hit up your local library or the school library in advance. You will save hundreds of dollars!