One of the most important things to keep track of as a college student is your expenses, especially what you spend on a day-to-day basis. As a college student, it’s important to plan your finances.
Remember that you don’t want to be in a position of having debt at the time of graduation. But, neither do you want to miss out on some experiences because you just didn’t want to spend. The thing to do is to spend smart.
Here’s what we’ll look at today:
- Useful tips to save money as a college student
- The summary
Here are a few helpful tips to save money while studying in a college without compromising on the quality of your life :
- Buy used or second-hand goods
- Don’t leave home without your student ID
- Food shopping can be done later in the day
- Don’t own a car
- Cook for yourself
- Cell phone usage and bills should be monitored
- Make use of cashback and rewards programs
- Be extremely vigilant when using credit cards
- Look out for free entertainment
- Choose housing wisely
- Make a monthly budget
- Use campus services
- Do buy things in bulk
- Start investing if you can
We invest a lot of money in buying new books and goods. On the other hand, buying second-hand or used products will help you save a lot of money as a student. It can be books, vintage products, good quality clothes, ornaments, and the best part is that you will even be able to bargain and buy when it comes to used products. When it comes to buying books, you can even ask your friends for the ones they used and also search for books in a second-hand book store.
Your student ID card is your key to a lot of benefits and freebies. You can get a lot of products at a discount with your student ID card. Companies like Apple and Forever 21 offer significant discounts for students with a valid ID card; also, you can get food at a discounted price in a few restaurants if you have an ID card.
Supermarkets and grocery stores offer discounts on products, usually in the evening. Products like bread and dairy products are usually sold at a high discount in the evening, and this will have a massive difference from the normal price. So consider the option of buying things or going to the supermarket in the evening.
This is one of the important things that you should keep in mind as a student. Decide on things for which you should spend and also decide on the amount that you will spend on such things. A simple Excel sheet or the planner appon your mobile will be more than enough for this. The main idea is to keep track of your monthly expenses and cut down on all the unwanted expenses. Before spending on anything, you should see if the budget that you made goes well with the product that you are going to buy or the event that you are going to attend.
Having fun doesn’t mean you spend a lot of money going outside. Universities will have a lot of fun events going on inside and also student clubs to organise events. Be a part of those and you can save up a lot of money.
Buying in bulk will always help you reduce the cost of an item. So in case you have the fund to buy small items in bulk do go for it. By doing this you will get to save a lot of money. Get a store membership card and see what offers they provide when you buy something in bulk.
A lot of the services that are paid will come for free inside the campus, so make use of all those services to the fullest before looking for the available options outside. Everything from movie nights to fitness and gym classes might be offered free of charge inside your campus.
Managing your finances as a student is also a great learning for what’s to come when you start work – it’s go a long way in creating savings for you as you walk the fine line between living the life you want and saving for the future.
In our blog, you will also find an article about helping a student with anxiety.
