Almost every college student undergoes the struggle of dealing with every day expenses. It's the first time being on your own and learning to survive before you hit the real world. Some wake up and know what they are eating that day, and others have to put their creative skills to the test by combining ingredients from each cabinet in the kitchen just to fill their stomachs. You also can't forget keeping a balanced social life which might involve eating out with friends, hitting the bar, or just going out to see a movie; all which drain your bank account day-by-day. Toss in an electric and water bill and your broke college life is complete. Some students are lucky enough to avoid these financial hardships, but for the rest of us, balancing a budget helps us persevere through our daily activities and keep our bank accounts out of the red.
Most of us spend our summers working night and day to save up for the upcoming school year, while also letting our parents take care of us on an every day basis like the good ole days. The summers we always looked forward to, hanging out with friends and enjoying the weather every day, are now preparation for the upcoming year. Once August rolls around, everyone is ready to get back and catch up with friends. The reckless spending starts here by going out three days a week, eating out every day and enjoying the social activities and events around town. It is important to remember the necessary expenses before you start abusing your debit card.
There are a couple tips to help prepare for you for the semester and better your spending habits.
1. OVER estimate your monthly utilities cost after seeing the first month's bill.
Apartment or house, number of roommates and how well you are with taking short showers and turning all the lights off are the deciding factors for your bills. Set this money aside each month and you have one less thing to worry about.
2. Shop at cheaper stores like Save-A-Lot or Dollar Tree and pay attention to weekly sales.
You'll barely be able to tell the difference anyways, so save a solid chunk of change and buy your bread, eggs and milk at a lower end store. Pay attention to sales flyers for any store though; you never know what you might come across. It takes more time, but you save more money.
3. Balance your social life and plan ahead the days you want to go out that week.
We have all gone out expecting to make our 8 a.m. class the next day, and blatantly missed it. School is your number one priority, so get your homework done and prepare for tests days in advance so you don't cram too much at one time and stress out. Remember that it's okay to stay in for a night over the weekend, whether it's for school or not, to save yourself some money.
College is one giant money vacuum, and learning from your terrible spending mistakes will make the following years better. You may have no burden financialy throughout your entire college career, but learning quality personal management is something everyone needs to do. You take on multiple hardships, but push past them and enjoy the best years of your life.
