“To reach financial success, you have to be able to realize your bad spending habits”
Are you eating noodles every day? Do you need more beer money? Most students are living on a budget, but when the budget is tight, how do you manage to put some money away for saving or other fun stuff? To reach financial success you need to be aware of your spendings and see what your bad habits are, as well as being able to see where you can save some money. If you want to get “rich” as a student, you need to cut your spending.
Here are some neat tips and tricks for how to save money, and maybe time?
- Buy used books. Books are always a big spending in the start of the semester, and also a big contributor of eating into your wallet. Buy used books to save some money. If you don’t want to buy used, try buying a book package. Some stores offer packages where you as a student might save some money.
- Plan your shopping before you go outside the door. Make a list of what you want to buy, and resist from making impulse purchases. Don’t make impulse shopping trips. Try to go 1 or 2 times to the mall in a week.
- Limit the time you go out per month either it is getting food or our partying. Eating out is a big money thief.
- Cut smoking (if you smoke). That is both bad for your health and bad for your economy.
- Pay off any credit card debt as fast as possible, so you don’t need to pay interest.
- Pay your checks on time to avoid late fees.
- Cut car use. Take a bus or any sort of public transport to save money on gas and all fees connected of using a car.
- Live with a friend or your girlfriend. Then you can split the rent and all utilities such as water or electricity.
- Cut all internet services that you don’t use such as Netflix, Spotify or others. Cut out expensive cable use as well.
- Dont buy lunch at school. Bring food from home and resist buying food out (goes into number 3)
- Download all student apps to see where there are student discounts.
- Download the stores apps to see where they have discount on what food so you can plan your weeks food plan before and cut the food spending.
- Cut the town gym. Campus gym tends to be cheaper.
- Sell what you don’t need. Do you have a bike in your parents garage you don’t use? Well sell it on Craigslist then and earn some money.
- Explore the library. Don’t buy books from the store that you will only use for a week or two. Borrow for free from the campus library.
- Drink water instead of soda. It is good for you to stay hydrated as a student and also good for your economy.
- Make coffee at home and don’t buy coffee at Starbucks or other coffee shops in town.
These were some tips for saving money as a student. A lot of these are lame and you probably don’t want to do any. I personally love Starbucks, I love buying lunch at school. I love soda and I love Netflix. Even though, I myself realize that in order to be able to save some money, I need to set up a budget and watch where to money flows, cash flow. What do I earn, what do I spend, but most important, WHERE do I spend the most money. I hope you learned something, and hopefully you will start looking at your expenses. If you got any more tips on saving money, please do comment below.
Start saving and become rich!!