College life does not come cheap and easy. Rising tuition fees and soaring living expenses make it extremely difficult for college students to live on a budget. However, this does not mean you have to starve yourself – there are a lot of ways to save money while finishing your college course.
In this article, we have gathered a few money saving tips for college students. As most college do not have good income or just working a part-time job, here are some tips so you can survive and enjoy your college years.
Track Your Daily Expenses
Before thinking how to save, you must first know how to spend your funds. Although doing this is not enjoyable, you need to do it if you want to stop overspending. Start by creating a list which contains your income, loans and other expenses such as phone plans, rent and food.
Don’t Buy New Books
Textbooks can be shockingly expensive. Before going to the nearest local bookstore, check if you can borrow textbooks from a student who has already finished the subject or directly from your university’s library. If not, buy second-hand books online and always check for a Manor coupon code for back to school discounts. You can also rent books from a local textbook store or order digital textbooks on the internet.
Limit Eating Outside
You might not have realized this yet, but whether you are eating at a luxurious restaurant or taking out at a fast food diner, your accumulated expenses when eating out creates a huge hole in your budget. Restrain yourself from eating outside and limit it to attending special events such as birthdays or after-exam parties. Making your own food at home is simple and cheap. While waiting for your favorite coffee, use the time to make your lunch – you just have to sacrifice waking up earlier to be able to do this.
Take Advantage of Student Discounts
Discounts are available from everything to clothes, gadgets and school supplies for those who can present a valid student ID. For example, Apple offers big discounts on their gadgets while big clothing brands give money off on their dresses, so never forget checking their websites for Bik Bok discount codes. Restaurants and chains also give discounts to students, so be sure to ask before you order.
Live Close To Your School
Living just a few blocks away from your school campus will give you advantages more than you can imagine. This will help you save a lot of expenses from transportation and meal allowances. You can opt to go to school by foot and go home during break time to eat.
Monitor Mobile Phone Usage
There are websites and applications that can monitor your mobile data usage and other cellphone bills to make sure you stay on your budget plan. These will also send alerts to you phone if you have exceeded the allowable limit for calls and internet usage. Just make sure you fully understand your phone settings because weak Wi-Fi networks can force your phone to switch to mobile data when you are unaware.
Never Be Careless With Credit Cards
If you really need to get a credit card, pick one with the lowest interest rate and only use what you can afford to pay each month. This will let you avoid late fees and high credit card debts while you are establishing a good credit score for the near future.
Most college students finish their degree within 4 to 5 years and every additional school year is another huge expense. To be able to graduate on time, take advantage of your school’s resources such as tutoring and academic advising.
Buy In Bulk
Get a membership card or loyalty card for stores you love shopping at. Usually stores put up additional promotional codes for YourSurprise when you buy their products in large amounts.
Don’t Keep Up With Rich Friends
If you have friends that are rich, it can be tempting to act like you also have an infinite amount of allowance. However, this is a bad idea. Avoid being around people who always hang out or eat at places you cannot afford. Keeping true to your budget is the key to saving money.
The Best Time To Save Is Now
With the feeling of independence setting in as you start your college journey; it can be tough to fight the temptation of spending your funds on a shopping spree and other unimportant expenses. Saving is a great skill to have while you are still young since this will help you manage your finance better as you get more mature in life.
Knowing how to save your budget during college is no secret. It just takes a little discipline and common sense. Never forget that you are in college to study and finish your degree. Meeting your academic as well as financial goals will help you make your college life more memorable and it will help you begin a better future.