In less than a month, we will all be heading to places such as Cancun, Miami, or even just home to see our family. Whether you are going to some place exotic or are staying home for the week, spring break is the most exciting time of second semester. While we may have count downs to remind us of the fun times coming up in a matter of weeks, we are also constantly reminded of money, or the lack thereof. Let’s face it, we are poor college kids and money is usually the topic of conversation when spring break comes up. Here are some tips to save some extra cash for spring break:
1. Put aside money every week. Instead of buying an iced coffee at Aromas, set aside that couple of bucks in a “spring break” envelope. Think about your “necessities” that you buy every week. Could you make it a couple of weeks without them? It may not seem like it, but that money adds up. Operate in cash and add that money that you would be spending every week to your spring break envelope. When you physically see the money growing at the end of every week, it is more satisfying and you are more motivated to keep adding money to it! That way, when March 10 rolls around, you have an envelope of cash ready to use at your disposal.
2. Put yourself on a budget. Since we are on the topic of envelopes, now would be a great time to start an envelope budget. You have a savings envelope going, now set one aside for how much you can spend. Decide the minimum amount possible that you can live off of every week and put that amount of cash in your envelope. Put your debit and credit cards on lockdown and only live off of what you set aside. Physically seeing money diminish over the week makes you less inclined to spend it.
3. Download money saving apps. Some of the many benefits of our technological world today are the incredible apps that are out there (especially the free ones). Spend less and shop more with the “Retail Me Not” app. With this app, you can search for your favorite stores and get in-store as well as online coupons right on your phone to scan at check out. You can bookmark your favorite stores as well as save coupons for later. Remember when I talked about putting yourself on a budget? Create a budget for yourself using “Mint” and track your financial goals. Save money, find savings, set bill reminders each month, and stay on top of your finances! There are hundreds of apps that cater towards your personal finances; all you have to do is search for them.
4. There is power in numbers. Grab a friend or two to budget and save money with you. That way, you can have someone to hold you accountable and maybe even take your debit/credit cards so you aren’t tempted to use them. The more that want to save with you the merrier!
I know that saving money can be hard, but with these tips you can save up a little extra cash to take with you on spring break. They might even inspire you to stick to a more solid budget when you get back or think of your own ways to buckle down with your finances. Discipline yourselves Wildcats and the rewards will pay off, literally!