College life means adult life. It’s high time you learned how to save money! Right now you might be thinking “How can I save money if I only spend it on the necessities?” Ok, so you did not eat out yesterday? And what about that Starbucks coffee this morning?
When you were in high school, you received much support from your parents. Now you have to learn how to spend money wisely. The following tips will introduce you to the Zen of saving money.
The first days of your college life will be marked with a burning desire to join a sorority or any other similar community, because you may think it’ll make you one of those “cool” students. Do not go there because you are trying to fit in. Of course, participation in such communities brings some benefits, but, in reality, it will painfully hit you in the wallet.
Most likely, your college will encourage you to have a meal plan. Obviously, there are both advantages and disadvantages of meal planning, but the thing is, it is not that cheap. If you cannot avoid it, at least try to get the most out of it.
Although meal plan helps students to cut down on their food expenses, this is definitely not the most cost-efficient option. The best thing you can do is start cooking yourself.
Here, YouTube can be extremely helpful. But remember that cooking, in fact, is huuuuuuuge fun! So don’t just stick to recipes, but be creative. Who knows, maybe this will be your next hobby?
A few things I learned at college:
Use piggy bank. This may sound childish, but putting there every $5 bill you find in your pockets will help you gather a decent sum. Plus, always try to beat your previous month “saving-up record.” And no cheating!
This advice will check how disciplined you are. Choose a time-period, for example, 10 months. Put an additional $1 bill to the piggy-bank every day during a week. The next week, put $2, the 3rd week put $3 and so on. In a year, you’ll see that you’ve really saved up a lot.
Not simply put things you need on a list, but double check them all! Every time, ask yourself the same question: “Do I REALLY need this?” Once you are in a shop, remember that you can only buy the things that ARE on the list. If you suddenly remember you need something else…well, put it on the list to buy it next time.
Some of you feel that they cannot survive without their favorite Nikes, Zara, Victoria Secrets and so on. The truth is, you CAN! There are hundreds of other shops that suggest you products of the same good quality way cheaper. You are now adult and frugal, remember?
And the last thing. Remember, that saving up is nothing more than a habit. All you need is a little self-discipline, and you’ll see that you actually have much more resources than you think. Use them well!