As a college student, money is always on my mind. I want to find ways to save all my money and never touch it, but I also want to go out without breaking the bank. I also want to find a way to make money in the future. It is so hard to deal with all of my school work while worrying about the money I do, or do not, have!
Here are some life-saving money tips I have picked up through my years at college.
Watch your food spending
There have been many occasions when I get carried away spending money on food that I do not need. From little packages of Twizzlers to bigger meals at my local burger joint, I end up looking at my bank statement in shock because I have racked up so much just on food.
Use your dining hall
I know I get pretty tired of the food in my dining hall quickly (in which case you can spice it up), but all in all it is a great way to save money. With food already prepared, waiting for you, there is no urgent need to go out for fast food each night, or have a sit-down meal at a local fancy restaurant. Plus, the dollars will not even necessarily be coming from your own account. It will come from your dining dollars. I know my school also allows me to use my dining card at local businesses like Chipotle or Red Mango. Find out if your school has deals similar to this!
A Treat a day makes the bank stay
I love my daily Starbucks, but I know it makes a hole in my wallet or dining card. It has been tough, missing out on those Mango Black Tea Lemonades. But I have come to the decision to find my breakfast elsewhere, or at least size down my drinks. It has been pretty amazing to see the difference it makes on my account. Those $5 drinks sure do taste good, but are they really worth it?
Save money in the long-run by getting your own coffee maker! This one from Macy’s will save you from having to spend hundreds of dollars in coffee shops every year.
Buy in bulk
If you do like sweet treats or quick snacks, buy in bulk. It is a great way to save money while also supplying and maintaining your stock. When I want a quick bite to eat, I grab a Nature Valley Bar or a small bag of Goldfish that I buy in bulk. So stock up! In the long run, you will be saving quite a bit of money.
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Get a job
Having a job is obviously wonderful, and it helps in so many ways when you get paid every two weeks. You no longer have to text your parents (nervously) asking for just a “little cash,” or feel bad when your friends seem to always pick up the check. You need worry less because having a paycheck means less debt hanging over your head. But it’s not just getting a job that’s important; it is as important to decide how to divvy up that paycheck.
Put half in savings
I have done this ever since my first job, and it has been a great way to build a backup. In fact, now I even put more than half of my paychecks into my savings. It is a way to build a small safety net for yourself, for those just-in-case moments. It is always reassuring to look and see that you have saved money, for whatever you may need.
Build up your cash tips
There have been a multitude of times when I look in my wallet and see a wad of single dollar bills that do not seem they will amount to much. But boy, do those bills add up! So try not to spend your cash tip money on the same day. Save it and see how much you have at the end of a week, or even two.
Save those coins
I have a nice little mason jar filled with coins on my desk – from coins I find, to the change I get from CVS, to the small five cent tips I get at work. I put them all in that little jar! I emptied it out a few weeks ago, and I had almost forty dollars in change. Coins make a difference, so keep them around.
SEE ALSO: 4 Easy Ways to “Make” Money By Getting Rid of Stuff
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Plan your events
I love going out! I always want to try a new restaurant, watch another movie, or go to some event! But going out all the time can get expensive, especially going to the movies. No one wants to pay eleven dollars or more just for the ticket and then twenty extra for the food! The important thing I have learned is to plan when I am going out and set aside money for an excursion or two per week.
Treat yourself
Always have a “treat yourself” day. Donna and Tom from Parks and Recreation would certainly agree. I think it is important to have at least one day a week where you can splurge – be it eating at Burger King or having a spa day. But plan it out! Set aside one day of the week to treat yourself, but be sure to make a plan on what you will be doing and how much you will be splurging, so you are not surprised when you check your credit card bill.
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Communicate with roommates
Living with other people definitely cuts down costs! Try to sit down with your roomies and talk about day to day expenses, such as food or items that are used by everyone in the dorm. You can always come up with plans to minimize the cost, be it splitting or deciding who pays for what. But find out what works for you and your roomies to see if it’s viable and save money without causing problems.
Split the cost
Each time you get groceries or take a quick trip to the dollar store around the corner for some cleaning materials, you can split the bill with all your roommates.
Cycle It
You can also come up with a schedule for paying for groceries or other items; perhaps you and your roomies can take turns every other week and so on. Once you know your cycle for paying, you can have the money set aside in advance.
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There are more than enough ways to save during those college years, but it is definitely hard. You have to find what works for you; it may be that you like keeping a jar for cash on your desk and putting in a dollar each day, or having a jar just for coins. But it is important to start saving now while managing to have some fun. So find a balance, and you will be all set!