We all know about waving your student ID to get a discount (#ThankYouSushiQ) or using a .edu email for free Amazon Prime, but what don't you know about balling on a budget? Summer is a great time to work hard and save money for the long months ahead spent hibernating in the library or splurging on pizza because you're too lazy to cook or wash your dishes (I'm guilty). So here are a few ways to save your hard earned cash and still have the summer of a lifetime.
1. Unsubscribe From Services
Do you really need Hulu and Netflix and that really yummy monthly snack box? The hard answer? No. Subscription services that automatically take money from your account are wallet killers. Because you may never even see the money before it gets debited from your account or you can't remember what your credit card bill looked like with out those charges. It's time to cut the cord. Try unsubscribing from one unnecessary service a month and you'll be amazed at how much that extra $10-$15 adds up!
2. Save Your Extra $$$$
The key here is that you don't spend that $10-$15 on other unnecessary things. Open a savings account at your local bank and start by depositing small amounts whenever you get paid. Waiting to start saving until you have a large amount to deposit is a bad idea-you'll probably never reach that large amount because you'll spend the cash on immediate gratification. Getting in the habit of saving $40 every two weeks is much more sustainable than depositing $100 every now and again. At the end of the summer, you'll be guaranteed to have $240 in your account! And watching your savings grow will motivate you to save more and develop better spending habits.
3. Carry Cash
I got in so much trouble when I got my first debit card. Thank goodness it wasn't a credit card because my 14-year-old self was swiping that thing left and right. A movie ticket here, a meal at Olive Garden there, some new shoes...I had no idea how much money I was spending, because all I had to do was hand my card across the counter. And then I had $4 dollars in my bank account and I needed to make a change. So I withdrew $20 from the ATM, left my card at home and went out with my friends. And I spent so much less! The feeling of handing over cash and seeing my wallet get emptier and emptier made me really think about what I was buying instead of just blindly swiping for another lipstick I didn't really need.
4. Host Nights In
Are you spending money to avoid FOMO? Have your friends over for a movie night to avoid going out to expensive restaurants or activities. You'll also be forced to clean your apartment/dorm room (I need this kind of incentive-I'm lazy). Hosting a game night or a girls-night-in with the "Lizzy McGuire" movie is a great alternative to throwing a full blown party and gives you an excuse to wear your sweatpants on a Saturday night. But if you can't see yourself hosting or you're a dedicated club hopper, be honest with your group about your budget! It's likely that other people are feeling pinched as well and would be open to trying less expensive options for a great night out.
5. Make Money On The Side
Did you know that you can earn money from watching videos on the Internet? I'm serious! Companies like this one will reward you with points for taking brand surveys or watching sponsored videos. You can then redeem those points for gift cards to your favorite stores (like Starbucks or Amazon). Are you addicted to online shopping? Did you know that you can earn cashback from a huge variety of online retailers? When you shop through sites like this one you can earn a percentage back of whatever you spend (Sephora offers 4 percent). It's almost too good to be true! But do your research, if a site seems sketchy, it probably is. Stick with sites that have a lot of positive reviews or that offer customer service contact info-with people you can actually talk to. Happy shopping!
Are you an experienced money manager? What are your best tips for saving while still having fun? Let us know in the comments!
