Saving money when you’re a college student is like mission impossible. The reality is that every issue about going to college is finance-related. After room and board, college tuitions, clothes, and notebooks, saving while in college is like a dream that never comes true. Hard as it is, saving money as a college student has two undeniable advantages:
No matter what they say, it is an important task for a college or university student – to manage money wisely in order to have the best college years possible. To help you with your saving path, we’ve gathered some interesting and easy-to-apply tips related to the money management issue.
Tip #1. Find the right bank. Seriously, go get the right one. The chances are the city you live in has several banks that are student-friendly. These banks provide some options that may save you some good cash, as well as bill pay and online banking.
Tip #2. Use your discounts. Without a doubt, you’ve got some interesting apps on your smartphone offering generous deals. For instance, RetailMeNot provides you with an opportunity to hold loads of coupons at once, while Amazon is there with both used and new books available for high school, college, and university students.
Tip #3. Stay away from Starbucks. Keep your desire to visit costly cafés in check. Just imagine that a $3.50 cappuccino at your favorite Starbucks daily will turn into $750 annually!
Tip #4. Rent or purchase used. The question is not only about saving on journals, books, and textbooks. Make sure to save when it comes to purchasing electronics. The reality is that more often than not, the new model of telephone, camera, or laptop gets lower rates than its previous model. For that reason, it is recommended to give preference to the used things or rent them if possible.
Tip #5. Work on your digital data protection. On the one hand, you definitely don’t find protecting your personal information important when it comes to saving money. But the truth is that identity theft is one of the growing problems among students nowadays. Hackers can easily get access to some of your credit card, bank account, and social security numbers. This, in turn, will turn into a real financial disaster. So, make sure to check your bank account and credit card accounts on a regular basis to catch any suspicious activities, as well as use reliable websites like Advancedwriters.com in your academic routine.
Tip #6. Pay the bills without delays. If you’re one of those forgetful clients, be ready to face hefty fees and penalties even for the minor infractions. Mind the due dates! Pay all your bills on time.
Tip #7. Split costs. When you plan meals with your friends or family, make sure to split the cost. Sometimes you may find yourself in the situation when you cook too much for a crowd. Avoid things like that.
Tip #8. Don’t go after brands. Purchasing brand name things means spending more. Instead, make sure to give preference to generic things that are exactly the same, but at a pocket-friendly price.
Tip #9. Set saving goals for a week. Once a week, transfer $10 or $15 to your savings account (Do not have one? Get it today!). Thus, you will be able to save nearly $500 annually. Or, as an alternative, save 15% of the overall income that you receive, transferring money to the same savings account.
Tip #10. Use your ID whenever possible. Your college ID is like a golden ticket from Willy Wonka. By using one, you have an opportunity to get discounted access to things like museums, airline tickets, and movies theaters.
Today, campuses provide a lot of activities such as movie nights, dance parties, or bingo nights that you’re welcome to participate in for free. This is very convenient when you’re thinking about the potential options to have a break from studies.
Tip #11. Get a part- or full-time job. To be able to save money, ensure to get a job. This will not only teach you how to communicate with people but also add some extra features to your CV. It’s better to get a job at your college. Consider options from the IT department and campus library to dining halls and bookstores. The job on-campus may not provide you with as much cash as off-campus positions, but they will make you feel secure and convenient. Take your time to choose the hours that work best for your academic schedule.
To cut the long story, money is always a personal decision, and your task here is to decide what works best for you.