We’ve all been there or are still in the same boat: money saving. We’ve been told that it’s always important to have money saved in case of unprecedented events, such as health issues or car trouble. As college students, especially with the UPR’s financial situation, we will need the extra cash for studies. I am not an expert, but through personal experience, I have come up with a few tips that have helped me save money. Here are a few tips that might help you, too.
1. If you work, cash-out half of your paycheck and save it.
I’ve been doing this since January, and it has honestly helped. I see big numbers in my checking account, and I literally itch to spend. To stop myself from doing this, I cash-out half of my paycheck and stash that money in a jar at home. If you’re like me, this is a conventional way to refrain yourself from overspending.
Another trick is to open an account in another bank or coop, and not get an ATM card or credit card for this account. That way, your money will gain interests, and if you want to spend some, you have to go through the hassle of going all the way over to another establishment.
2. Keep track of your daily spending.
It’s annoying at first, but try to do it for a week. It will help you see where you’re standing and have an idea of where your money goes.
3. Let go of the daily $5 latte.
I’m not throwing shade here, but if you’re like me, you spend $5 in that IUPIcoopcoffee, don’t you? Try drinking coffee at home or bring some to class. I get it, apoya lo local, but apoya tu bolsillo también. This tip also applies to buy lunch! Try to make your own lunch at home. It’s easier than it sounds.
4. Have a goal.
Want to travel more? Get your own place? Have something to look forward to. I want to travel. By following my tips, I could afford a trip for myself this month.
Take advantage of this time as a student to practice saving money. Your parents tend to be your cushioned fall-back if you screw up, but don’t hold them as a crutch for everything. Adulthood slaps you hard, especially money-wise. Later, you might not have such a graceful fall-back. Go ahead, and practice adulting!