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How to Save Money in College: Money Saving Plan for Students

Tips to Save Money:

Money Saving Plan for Students
Tips to Save Money

Are you a broke college student too? Welcome to my world. Actually, welcome to the world of most teenagers. As we start growing up, our expenses also start growing with us. We have lots of desires, we want to go out with friends, we want to celebrate our birthdays, we want to go shopping constantly,  something girls are notoriously known well known for, among other things. 

But the thing is, nothing is free in this world, and we have to pay a price for our desires. Saving money in college might sound like an impossible task, but I promise you, it is very much possible. 

For most college students, this is the first time they have to budget and it is very difficult as most don’t know how to manage it. But don’t worry, I am going to include some tips and tricks to help you manage your expenses and to be able to save, regardless of your age. 

Obviously, these are from my own experience so I might have missed out on some. But if you have any other suggestions or hacks, let us know in the comment section below. 

šŸ’„Alright now that that’s out of the way, let’s dive in:

The first and easiest thing to do is to become more aware of exactly where you’re spending your money. You need to become smarter about how you spend your money as the trick to good finances, is becoming aware of where you’re spending your money. 

If you keep a bullet journal, start a tracking page in it. If you don’t like bullet journaling, you can just purchase a small notebook and track your spending on it. For the whole year, and writing in it for individual days. 

Once you know where each and every penny you’re spending, you can then make a decision as to what is an unnecessary expense and what is necessary. After that, you can just simply cut the extra expenses out and this will save a considerable amount of your money.

Now another easy and obvious way is to earn side by side. You don’t need to have a proper job as it will be very hard to juggle studies along with the pressure from the job. You just need a part-time job that allows you to make a little extra spending cash. 

This can be in the form of your side hustle too. For example, if you love writing, you can make money blogging or through content writing. You can get internships that also pay stipends. 

This option has another advantage besides helping you earn, it can help you in building up a CV too later. And not to mention it can probably get you a job right out of college too as some companies select their employees from their interns.

There’s a difference between being cheap and being spending savvy. And I have some more tips to help stretch your money further. 

Limit the number of times you eat out. Eating out is probably the most damaging thing to your budget. And if you’re in a dorm or hostel, you’re already paying for a meal plan. Besides it’s cheaper buying groceries than to get takeouts o spend in restaurants. 

Keep the change. We tend to discard change carelessly. Instead, get a jar and collect your spare coins and small notes in it. The change will add up to enough pretty soon. If you are a gym user, instead of paying for expensive gym memberships, try to use the gym already in your college. And take advantage of home workouts.

Invest in a water bottle instead of paying for bottles of water every day. Unsubscribe from daily deals. Lots of sites offer daily deals and send alerts without fail. And they’re probably responsible for most of your shopping. If you don’t pay attention to these, you’ll cut back on shopping for needless junk.

Don’t get into smoking or alcohol. They’re expensive habits and they only harm your bodies. 

Open up a savings account and try to deposit all your cash in the bank. Don’t use credit cards and review your balance weekly. You will also earn interest on the money this saves up a lot.

If you can, buy used textbooks or rent them instead of buying new books. This saves a considerable amount of money. If you need books for a short period, just check them out from the library. 

Always pay your bills and fees on time. Try to shop in places that offer student discounts. Instead of expensive brands, buy generic items. Walk if possible or use public transportation instead of using a car.
These are just a few tips. I sincerely hope they help you save money. 

Hints 4 You.
Thanks for giving me your precious time.
We will meet again via the next post.

šŸ’¬Contributed by: Mansidak Kaur

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