A main concern of college life is getting, saving and spending money. These three factors run constantly in the minds of college students, especially when they lice away from their parents. Even though they send you some monthly or weekly money for your expenses, it is surely hard to meet all your expenses in that particular amount. One may call it unnecessary but for students it is necessary. So, if you are thinking how you can save some money so that you can tackle your expenses, then here are some ways you can spend your money wisely and save more.
Food and drinks always take up a lot of our budget. So this is one thing where you can actually cut down expense. What you can do is avoid going for regular dinners and lunches to expensive restaurants and pubs, instead eat at your rented homes or hostel. If you get lunch at your college then avail that. Fix one or two days in a month when you go out with friends to eat in restaurants. You can also learn to cook some basic meals if the place you live allow you to cook. In this way you can make your breakfast by yourself and avoid spending extra money in canteens or other places. This one way you can save a bit of money.
This is another factor that takes up a lot of your pocket-money. First and foremost avoid long duration phone calls with friends whom you meet daily in college. Whatever doubts you have regarding assignments or projects, clarify it when you meet them and not over long phone conversation. Choose a reasonable data plan for you as well so that you do not spend all your data in watching videos and downloading movies. Allocate a fixed amount for phone and data expenses and try stick to that amount every month. Another factor related to phone bills are that pay your bills on time so that you do not have to pay late fines.
While away from home you are a free person and you would want to always shop, shop garments, accessories, etc. Avoid this habit of yours if you want to save some money. Shop when necessary and not when you feel like to. This again will save a lot of your precious money.
Avoid making regular movie plans to theatres. Movie tickets costs a lot, and movie plans are not just movie plans. It always ends up becoming a plan where you watch movie, have popcorn, then go to a close-by restaurant for dinner and then come back home. And this surely means that you not just spend on movie tickets, but spend on a lot of other things. Now this doesn’t mean that you cannot go for movie watching at all. Select one best movie a month and make a plan for watching that. Avoid watching any movie that releases.
So if you do not want to compromise on food and movie then the only option for you is to find some good part-time job that will at least pay you for all these expenses of yours. There are many jobs available online and offline that pay reasonably. So start working and increase the amount of money you get every month and then spend the way you want to. The only concern in doing a part-time job is that you should have the time and energy to do the given work by your employer after attending lectures and doing your college assignments. If you can manage both your college work and a part-time job, then surely go for it. Most students can able to earn and save money by their writing skills too, for more details you can write papers for money with AdvancedWriters.
Avoid taking loans
While taking loans we do not realize that we also have to repay the money. And when we realize it we are already in a huge debt. It is not that in any money you would get more money, so when you have to repay the taken money; it is going to affect your monthly budget. So the best way to avoid paying debt is by not taking loans from anyone.
A stereotypical college student has a permanent lack of money, eats junk food, and is particularly bad at saving. This is often accompanied by health problems and irrational spendings. However, it is possible to save money without having to eat unhealthy food. You surely can do both, eat well and cut on spendings. Below are some practical tips that you might find useful.
Do Some Planning
The first thing you need to learn to do when in college is how to plan your budget. You might start with planning your lunches and dinners. Make a list of what you will need, say, for the upcoming week. When shopping, you will look at the list and stick to it, rather than wandering around the store buying unnecessary things.
Look at the Prices
Not every grocery store customer looks at the prices when shopping. This is, however, a nice habit to have. Always look at the prices, compare them, and know how much you spend on your food.
Use Coupons and Promos
With coupons and promotions, you can save a lot of money. Even if you are able to spend a dollar less than you normally spend, you can imagine how much it will be when multiplied by the number of shopping rounds per month. What if it’s even a more significant sum?
Discount codes can be found in catalogs, on the websites, or obtained through specific apps. For example, 20% of young people save money on grocery shopping with a mobile app. You might want to subscribe to a bunch of newsletters to get coupons when they are available. In general, you will see promotions everywhere if you pay attention. They are often connected with some holiday, so be especially alert on days like this.
Use Regular Discounts
There are discount cards at practically every store. Some even offer special discounts for students. You won’t really save much using your customer discounts, but they still can save you some cash. Unfortunately, students often ignore this possibility, as only 17% of them use their student discounts. Don’t forget about this additional opportunity to cut on your budget spendings.
Don’t Chase after the Brand Names
Did you know that buying goods from a brand costs you additional money? Try to pick products by generic brands or those which belong to the store chain. They are often not worse than the goods you are used to, if not better.
Don’t Shop Excessively
Did you know that every family in the US spends $1.3–2.3 thousand yearly on products and goods they do not need? That’s $100 and more per month. In the end, it all goes to waste, along with the money. So, stay alert whenever you go shopping. Don’t take more than you can eat and don’t buy something that you won’t consume. A shopping list will help you.
Don’t Shop When Hungry
This piece of advice might sound funny, but you should try following it. When you are hungry and traveling among the supermarket aisles, you will likely buy processed and less healthy food to eat it immediately. Besides, you will buy more, just because the products are so conveniently arranged that you won’t stop at just one thing — you’ll find something just as good right next to it.
There is always a way in which you can save some money without giving up on healthy and tasty things. Just remember that planning helps, as well as turning on your rational side. Search for coupons to save money, don’t buy stuff that you’ll be likely to throw away, and use your student status to your advantage. These are the main tips that will help you get through your college days and have some cash to spend on more important things like clothes, books, or a Netflix subscription.
5.00 avg. rating (99% score) - 1 vote