If you're in college, chances are you've been there. You're going out to eat, online shopping, hell, even just buying textbooks, and then all of a sudden you realize it's Tuesday, and there's $10 left in your wallet. If you're anything like me, your go-to reaction is to panic.
"Did I pay my bills this week? Are any fees going to come out of my bank account before I get paid? How am I going to eat?"
Then, the rational part of your brain will chime in, and you'll check your bills and your bank and realize you're set. You don't owe any more money this week, so there's nothing to worry about....except for food, basic necessities, and emergencies. After all, your shampoo is looking pretty low, and you're a hungry person– you can already feel your stomach rumbling, thinking about dinner. What now?
These 8 steps will help you make the most of that $10!
1. Stop spending frivolously.
Do you really need that sweatshirt? The Starbucks coffee? Or do you want them? The first step to saving money in any situation is to learn to tell the difference between a "need" and a "want." You need to eat dinner. You want to drink Starbucks.
2. Clean out your wallet, purse, backpack and pockets.
Check everywhere. You never know where you may have left some spare change, or even a dollar bill or two! Always check for change-- especially before you do the laundry!
3. Search for gift cards.
You might have some leftover gift cards from the holidays or your birthday floating around. Dunkin isn't the healthiest thing to live off of, but if you find some gift cards then you don't have to worry about coffee for a couple days!
4. Clip coupons.
Those extreme couponers are onto something. You can save a ton of money if you only look around! Some stores even have online coupons that you can show at the counter. Even if it's a dollar off, that's one more dollar for the rest of the week!
5. Make the most of your meal plan's bonus points (if you have them).
If you have a meal plan, use it. Sure, the food isn't always the best thing in the world-- but you're already paying for it. Save yourself from a trip out with friends and opt for the dining hall instead. Also find out where your bonus points (if you have them) can be used. Some schools will let you use them at their convenience stores, so that can cover things like soap, shampoo, and medicine.
6. Search for sales.
If you can't use bonus points for this, search for sales. CVS runs sales all the time, and-- going along with the coupon point above-- they always have a TON of coupons print out with your CVS card. Be on the lookout for a good deal!
7. Buy things that will last a few days.
Instead of buying one small bag of chips from the vending machine for $1.75, spend $2 on a regular size bag. It'll last you a couple days-- as long as you don't eat it all at once!
8. Don't be afraid to ask for help (but don't be a mooch either).
There's no shame in asking for help-- but don't abuse the generosity of your friends and family. Be frugal with anything they give you, and always remember to say "thank you!"
At the end of the week when you finally get paid, try to plan out a budget-- and stick to it!-- so you don't find yourself in the same predicament next week!
