For your average broke college student that likes to spend money
From one heavy spender to another, I know the struggles of trying to save money. Especially with the holiday season coming up, capitalism makes everything it has to offer quite tempting. However, I have recently curated some ways to feel satisfied with my purchases but not go overboard.
- Plan out your activities for the week
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If there is one thing I love, it’s Google Calendar. Not only does it help me organize myself for the week, it allows me to budget both my time and my spending so that I can stay on top of all the things I need to do and also enjoy myself. I always have my classes in my calendar so that I can pick and choose what I do with my time outside of it. It always changes! Sometimes, my free time is filled with homework in a cafe, where I can plan how long I stay there and what I bring with me to be budget friendly, like bringing snacks from home and only treating myself to a latte! Or my friends will go out to dinner, and I know that I should budget and plan my week so that I feel good about spending the money and enjoying quality time with people in my life.
- CREATE RULES AND GUIDELINES THAT WORK FOR YOU!
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Everyone is different, and this applies to spending habits too! For example, one of my friends decided she would limit herself to buying one coffee a week, because she felt like she was spending a lot of money on coffee or fun drinks. By setting that guideline for herself, she was able to change her habits and lean on alternatives that allowed her to cut out spending that she felt was unnecessary. It’s important to remember that everyone is different and has different priorities. For me, I want to be able to enjoy the times I treat myself to a clothing item that I have been eyeing or enjoy going out with friends. These wants help shape the different habits I try to create, so I can enjoy these things!
- DO YOUR RESEARCH
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Since being in college, I have become a regular on the various company apps and reward programs that are always promoted. While at the moment it may seem unnecessary, using these systems do save you money overtime! Whether it’s for a local coffee shop, your favorite clothing store or where you buy your groceries, the majority of these businesses have reward programs that give you discounts, freebies or other deals for being a customer! Some of my personal favorites are Walgreens, which gives you points to go toward different purchases, and Urban Outfitters, which awards points for various actions as simple as viewing the app or declining a bag for in-store purchases.
- TRACK YOUR SPENDING HABITS
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As simple as this sounds, it can be time consuming and low on your to-do list. Nevertheless, keeping tabs on what you do and do not spend money is super useful for budgeting in the future. For me, one of the main things I tend to spend money on is coffee or eating out. By having a better understanding of these habits, I am able to take preventative steps so that there is a better balance between saving and spending. For example, I try to make time for myself to go home for meals when I can, which allows me to use the groceries I buy and eat out less! Just recognizing what you enjoy spending on can make it easier to take the first steps toward saving.
- DO NOT FORGET TO TREAT YOURSELF
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One of the most important parts of budgeting is keeping in mind that everything in moderation is super important. If you completely limit yourself on the money spent each week, it can lead to bigger splurges that completely undo whatever budgeting you may have done prior. Being realistic about retail habits and what expenses are important to you makes it much easier to have a good balance of feeling satisfied with both the purchases and cost effective decisions you make.
For me, one of the hard parts about spending and saving money is that when I do spend or splurge, I feel guilty, which should not be the case. By being money conscious the majority of time, it gives you flexibility for those special occasions and days you just need a little pick me up. Because trust me, we all have those moments. So happy spending, and even happier saving!