6 Tips On Money Management In College
Start writing a post
Health and Wellness

6 Tips On Money Management In College

I had inaccurately high hopes going into college about the amount of money I'd spend...here's what I've learned.

6 Tips On Money Management In College

I had really high hopes going into college that the money I had in my savings account would never run out! I'd had a job both my junior and senior year of high school and tons of money saved. I'd gotten lots of graduation money in addition to that; in my mind I was basically set for life. After about a month at college, I realized how skewed my estimation of spending was.

Important things that I forgot to take into account beforehand were groceries, cleaning supplies, and textbooks--all very real necessities. Aside from the needs, I had many wants that drained my account as well from insomnia online clothes shopping at two in the morning to food trips off campus when I (occasionally) got sick of on-campus dining. Anyway, here's what I've learned so far that may help someone make his or her savings last as long as possible in college.

1. Save as much money as possible before college.

Having a job in high school is so beneficial. If you have the time, it's something that not only teaches life skills, but also allows you to save for when you're living on your own. Graduation money is awesome too; no matter how tempting, don't blow it all the summer after senior year. Go to concerts, take trips with friends, but try to conserve where you can; you'll thank yourself come fall.

2. Figure out a budget that works for you

I know, the word "budget" is boring and adult and scary but it's not as bad as it seems! Over your first month away from school, buy as you normally would and track how much you've spent at the end of the month. From there, maybe transfer that amount of money into your checking account, or take out cash, or however you differentiate and try to only use that much each month.

3. ...and try to stick with it.

Realize that if you go over the amount you've given yourself occasionally, that it's not the end of the world. You'll (hopefully) learn from the experience. For example, if you bought food and didn't eat it all, note that and buy less next time.

4. Splurge every once in a while.

It will keep you sane and happy. Take into account that when December rolls around, buying Christmas presents will take more money (it's okay though because you'll get most of it back in your own presents). Remember that new clothes for Spring are sometimes (always) necessary. It's okay to allot yourself more money for March to get a few new shirts or a bathing suit for Spring Break.

5. Work over breaks whenever possible.

If your high school job allows you to come back for Fall, Winter, and/or Spring breaks, don't miss the opportunity to replenish your savings even if working over break sounds like hell. Also, getting a job on or off campus while you're at school is always an option. If you feel like it's something you can fit into your schedule, go for it.

6. Try not to fall into a depression as you see your savings account rapidly shrinking.

Understand that spending money is a necessary part of adult life. That number that is (way) smaller now than it was at the beginning of fall semester means you're living and functioning in life!

By the end of spring semester, you could very well be cutting it close to living on saltines and tap water BUT remember that it's okay. That $14 on dinner out is now a memory you'll never forget with friends. The $20 you spent on that shirt you couldn't resist is confidence when you go out with friends. Also remember that looming in the near future is the bittersweet summer job--you'll make money, and start the process all over again in the fall.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Health and Wellness

Exposing Kids To Nature Is The Best Way To Get Their Creative Juices Flowing

Constantly introducing young children to the magical works of nature will further increase the willingness to engage in playful activities as well as broaden their interactions with their peers


Whenever you are feeling low and anxious, just simply GO OUTSIDE and embrace nature! According to a new research study published in Frontiers in Psychology, being connected to nature and physically touching animals and flowers enable children to be happier and altruistic in nature. Not only does nature exert a bountiful force on adults, but it also serves as a therapeutic antidote to children, especially during their developmental years.

Keep Reading... Show less
Health and Wellness

5 Simple Ways To Give Yourself Grace, Especially When Life Gets Hard

Grace begins with a simple awareness of who we are and who we are becoming.

Photo by Brooke Cagle on Unsplash

If there's one thing I'm absolutely terrible at, it's giving myself grace. I'm easily my own worst critic in almost everything that I do. I'm a raging perfectionist, and I have unrealistic expectations for myself at times. I can remember simple errors I made years ago, and I still hold on to them. The biggest thing I'm trying to work on is giving myself grace. I've realized that when I don't give myself grace, I miss out on being human. Even more so, I've realized that in order to give grace to others, I need to learn how to give grace to myself, too. So often, we let perfection dominate our lives without even realizing it. I've decided to change that in my own life, and I hope you'll consider doing that, too. Grace begins with a simple awareness of who we are and who we're becoming. As you read through these five affirmations and ways to give yourself grace, I hope you'll take them in. Read them. Write them down. Think about them. Most of all, I hope you'll use them to encourage yourself and realize that you are never alone and you always have the power to change your story.

Keep Reading... Show less

Breaking Down The Beginning, Middle, And End of Netflix's Newest 'To All The Boys' Movie

Noah Centineo and Lana Condor are back with the third and final installment of the "To All The Boys I've Loved Before" series


Were all teenagers and twenty-somethings bingeing the latest "To All The Boys: Always and Forever" last night with all of their friends on their basement TV? Nope? Just me? Oh, how I doubt that.

I have been excited for this movie ever since I saw the NYC skyline in the trailer that was released earlier this year. I'm a sucker for any movie or TV show that takes place in the Big Apple.

Keep Reading... Show less

4 Ways To Own Your Story, Because Every Bit Of It Is Worth Celebrating

I hope that you don't let your current chapter stop you from pursuing the rest of your story.

Photo by Manny Moreno on Unsplash

Every single one of us has a story.

I don't say that to be cliché. I don't say that to give you a false sense of encouragement. I say that to be honest. I say that to be real.

Keep Reading... Show less
Politics and Activism

How Young Feminists Can Understand And Subvert The Internalized Male Gaze

Women's self-commodification, applied through oppression and permission, is an elusive yet sexist characteristic of a laissez-faire society, where women solely exist to be consumed. (P.S. justice for Megan Fox)

Paramount Pictures

Within various theories of social science and visual media, academics present the male gaze as a nebulous idea during their headache-inducing meta-discussions. However, the internalized male gaze is a reality, which is present to most people who identify as women. As we mature, we experience realizations of the perpetual male gaze.

Keep Reading... Show less

It's Important To Remind Yourself To Be Open-Minded And Embrace All Life Has To Offer

Why should you be open-minded when it is so easy to be close-minded?


Open-mindedness. It is something we all need a reminder of some days. Whether it's in regards to politics, religion, everyday life, or rarities in life, it is crucial to be open-minded. I want to encourage everyone to look at something with an unbiased and unfazed point of view. I oftentimes struggle with this myself.

Keep Reading... Show less

14 Last Minute Valentine's Day Gifts Your S.O. Will Love

If they love you, they're not going to care if you didn't get them some expensive diamond necklace or Rolex watch; they just want you.


Let me preface this by saying I am not a bad girlfriend.

I am simply a forgetful one.

Keep Reading... Show less
Student Life

10 Helpful Tips For College Students Taking Online Courses This Semester

Here are several ways to easily pass an online course.

Photo by Vlada Karpovich on Pexels

With spring semester starting, many college students are looking to take courses for the semester. With the pandemic still ongoing, many students are likely looking for the option to take online courses.

Online courses at one time may have seemed like a last minute option for many students, but with the pandemic, they have become more necessary. Online courses can be very different from taking an on-campus course. You may be wondering what the best way to successfully complete an online course is. So, here are 10 helpful tips for any student who is planning on taking online courses this semester!

Keep Reading... Show less
Facebook Comments