Looking to learn how to save money in students’ life? With ever-rising college costs, it can really help your current and future finances if you learn how to save money.
As you know, college can be very expensive.
However, I want you to know that you can learn how to save money in college so you can get a valuable college degree on a realistic budget.
Many students take out student loans to pay for college, and it can be very easy to borrow more than you actually need. While student loans do help you pay for college, having those loans hanging over your head can set your finances back by years and even decades.
Let’s talk about money first.
I know it’s really fascinating to born with a silver spoon in the mouth and its really disappointing to live in adverse situations. The truth is, money is insidious. It makes you deceitful.
We all say that ‘Ye Sab Moh Maya Hai’ (It’s a mendacious power) yet we are dancing to its tune like puppets.
Hope, we cope-up with this power and make a balanced life.
Coming out from the fantasy world, let’s know the money-saving tips:
- The first and foremost thought is, keep a part of your salary or pocket money away from your expenditures, whatever is the amount.
- Make a monthly or a weekly budget and set an amount for that particular period. Follow up and punish yourself if could not make it, by paying double of the same amount which you have spent extra to your piggy bank or saving locker.
- You can watch movies in the theatre after 2-3 weeks from its release date. The ticket prices go down and you will have the same fun in your budget (if you are not a ‘watch first-day first show person’).
- Buy clothes on season clearances if possible. I know the trend changes, but you can pair up with something trendy. This would look cool and your closet will nicely shine.
- Don’t buy all the subscriptions of your favorite web platforms. Make a deal with your friends according to the no. of screens you can share on those platforms. You will just need to buy one and exchange it with each other.
- You can explore your favorite places. If you are about to give any exam just put the name of that place in your exam center column (if possibilities are there). One bow, two targets. 😉
- No money to buy books. Walk into the library to watch out on your needs. It may be your other home and you will have a lot of friends there as books.
- If you own good knowledge of the stock market then you can use it as a great tool to double your money over the years. (For students above 18)
- Understand the difference between urgency and necessity. If you genuinely need something then only buy it otherwise dropout the non-essentials. I have seen many people buying 2-3 phones within a year. Just a waste of money.
- Turn off lights and fans in case of no use. This way you will not only save electricity but also save your money on bills.
How to save money in college.
1. Think about the value each college will offer you.
2. You need to think about the full cost of college.
3. Remember that college isn’t the only thing that’s important.
4. Taking community college classes is one of the best ways to save money in college.
5. Take all of the credits your tuition allows for.
6. Apply for aid and scholarships to lower your college costs.
7. Only take out what you actually need in student loans.
8. Search for cheaper textbooks to lower the cost of college.
9. Use your student ID.
This can help if:
- you’re a student and want to save money.
- your budget is feeling tight in your college
- you’re about to start college and feeling worried about money.
1. Don’t buy new textbooks
It doesn’t make a lot of sense to spend hundreds of dollars on new textbooks that you’ll use for just one semester. Instead of forking out serious cash for books that your lecturers insist you read, consider some cheaper options. Student services or the student union may have second-hand shops or book exchange programs. Other options are online stores, as well as e-textbooks
2. Make the most of student discounts
Your student ID card can get you stacks of discounts around town and online. Also get to know the student discount days and happy hours at your local pubs, cinemas, and other haunts.
Fun fact: You can get cheap haircuts from student hairdressers.
3.Take your lunch with you
It’s not hard or expensive to whip up a sandwich or salad in the morning, and it will save you megabucks on food. Try buying nutritious foods(also focus on your mental health), such as beans and rice, in bulk, then do a weekly fresh food shop to make sure you’ve got lots of healthy goodies on hand. Though they might be cheap, two-minute noodles aren’t going to sustain a hard-working brain.
4. Plan your grocery shop
You know what they say: never go grocery shopping on an empty stomach. Take it one step further and plan your trip to the shops around what’s on sale. If there’s something that you use weekly, stock up when prices are reduced. If a certain type of meat is on sale, you could buy a larger quantity, and then make a stir fry or a curry that you can freeze for later.
5. Figure out what’s important to you
If you really look forward to your morning barista-made coffee, you don’t have to scrap it. Work out what really brings you joy and just factor it into your budget.
6. Get a piggy bank
It’s easy to ignore or lose loose change, but the value of those single coins can add up quickly if you make a conscious decision to collect them. Choose a fun container to keep your loose coins, and decide how you’ll spend this easy money once you’ve reached a target amount.
Many restaurant owners never have their meal from their restaurant on a daily basis and we go and pay so much frequently.
Many doctors don’t really rely on medicines for their well-being instead they prefer yoga or meditations and we pay even if we sneeze a bit.
Many hair treatments and facial creams appliers use natural homemade therapies and we pay thousands to them.
The fact is, we all are bound and unfortunately, we need to do this for self-satisfaction.
Those who want to do this as per their wish let them do but those who don’t want… don’t dare to taunt them for being themselves.
It’s not about how much you make, it’s about how much you save!