Written by: Marquis M
One of the most valuable skills that college students should have is the ability to manage their finances . It is best to hone this life skill as early as possible, because eventually, its payoff will be great. But learning how to budget your finances may sound daunting to some people, no matter how young or old they are. And if you are one of those people who find it hard to save money, here are some tips that you might want to keep in mind.
Stay Focused on Your Money Matters
With so many things to think about during your college years, it’s not always gonna be easy to keep your financial concerns at the top of your head . It may not be your top priority, but it should be one of your priorities. And this is especially true if you are not one of the few lucky ones who have college funds available and have no worries when it comes to saving money. Whenever you spend money, it will be wise to keep track of every amount that you spend. This way, at the end of the day, you won’t have to wonder about where all your money went to.
Eat Out Selectively
College is tough, so you deserve to relax, eat and drink or do something fancy every once in a while. But never overdo the pampering. Remember that too much of something is not healthy. Set a limit for how often and when you will be eating out. It is okay to spend money on good and healthy food, but there are better, cheaper ways to have good meals. Learn to prepare your own meals or look for restaurants that offer sumptuous meals at a fraction of the cost of other high-end restaurants.
Use Campus Gym
Thinking about getting some exercise, but would prefer the gym? Then why not use the gym at your campus instead? It may not be as pretty and as well equipped as other prestigious gyms outside school, but at least you get to exercise without having to shell out lots of dollars for gym membership elsewhere. And you won’t have to go out of your way. At least once you’re done with class, you can go straight to the gym and catch on some much needed exercise.
Choose Your Apartment or Dorm Room Wisely
Not all apartments are created and priced the same. Sometimes, all it takes to find the right apartment or dorm for you is to look and ask around from friends. Set a specific budget for the rent and other related fees that you might need for your college home. As long as it’s comfortable, located in a safe area, and is, ideally, close to your school, then it may be a good option for you.
Check Out Free Events
If you are looking for some fun socialization events to go to, check out the free ones being offered by college clubs and organizations. Usually, these events are free or tickets may be set at very affordable rates.
Don't Buy New Textbooks
If you are looking for textbooks, you might wanna steer away from buying brand new ones if you want to save some extra bucks. You may want to look for textbooks in advance, like before the end of a school year. Some students who will be moving up a year might be looking into selling their used textbooks, and that’s something you might want to take advantage of, because you will be able to buy them cheaper.
Take Advantage of Student Discounts
Your ID card is not just for identification. It can also unlock loads of discounts and freebies available to students like you. And why would you say no to discounted items if it can help you stretch out your dollars some more? So anytime you see student discounts available in stores or restaurants, take out your ID and grab a discount!
Making the most of every penny will always be challenging, especially with the current state of the economy , wherein everything is becoming more and more expensive. By knowing how to spend your money wisely and budget your funds, you’ll be able to get through college without burning that big of a hole in your wallet.