College is a seemingly endless flood of bills, from tuition to books to the much needed cups of coffee, the money always seems to be running short. I see so many college students living a lifestyle like they have bank accounts as full as the characters from Gossip Girl when I am sure many of them are actually thousands of dollars in debt. It can be hard to shake this once you have started and you do deserve rewards for all your hard work in school right? The biggest key to this is balance and this can be achieved with a couple of key tricks that will help you have extra cash in your pocket.
1. “For here or to go?”
How about neither, set a limit for the amount of times per week/month you are going out to eat and stick to it. Food charges just add up too quickly and it’s usually not as healthy for you as cooking at home. For those claiming to be too busy, there are plenty of options just as quick as take-out such as sandwiches, soup and salads.
2. Kick the coffee habit.
Going off of that, coffee can also get expensive. Especially if you are the type that needs an espresso-based drink such as a lattes or a caramel macchiatos. While those drinks are delicious, I highly recommend making your primary source of coffee being from home and occasionally treat yourself to your favorite beverage.
3. Have self control!
Avoiding impulsive purchases is difficult. Yes, I know you think you NEED that new nude lip color when you already have dozens that are similar at home, but trust me you don’t. Think about how much you will actually use something before you buy it.
4. Take advantage of all deals.
The University has tons of events from free movies to concerts, take advantage of everything you can. Facebook is a great place to find events for free when you search by area! Always have your student ID and use lists like this one to see where you can score discounts. There is no shame in being a couponer, apps like RetailMeNot and SnipSnap are awesome sources!
5. Skip the gym membership!
Yes, I know it can be appealing to want to get a gym membership at some fancy gym or to sign up for premium fitness classes due to the crowds at the SERF, but in college that is an expense you don’t need. Stick to the SERF and NAT! Exercising is a healthy form of entertainment and your membership to the campus facilities is also included in tuition!
6. Make a list of all the things you want.
This ensures you won’t forget anything on your wishlist, but gives you time to think about if you REALLY want it. You might change your mind after awhile. Also, if it is a more expensive item, you can either plan for a way to save for it or give it to a family member for a holiday or birthday present!
7. Leave the card at home!
If you don’t have the restraint to only use your credit card for emergencies then I would recommend leaving the card at home, at least until you learn to not rely on it. It’s too easy to just swipe a card so try having emergency cash instead. Credit cards are not free money so you shouldn’t be buying anything you can’t pay off right away.
8. Do the math.
This can be cringe worthy but if you’re feeling courageous, add up some of your most recent purchases and see how quickly it adds up. If you spent $200 in two weeks but can’t afford to buy your mom a present for her birthday, there is something wrong here.
As a firm believer in the importance of treating yourself, I hope I did not scare anyone off from spending money because being stingy is not good either! However, it is important to save money whenever possible especially while in college because every bit helps. Plus, limiting yourself makes the rewards twice as enjoyable!