Money Tips And Tricks For The Broke College Kid
Start writing a post
Student Life

Money Tips And Tricks For The Broke College Kid

Sometimes hiding money in your underwear drawer isn't the worst idea.

21
Money Tips And Tricks For The Broke College Kid
Huffington Post

As a college student, I pay my own bills. Each month I am faced with rent, the electric bill, the water bill and the WiFi bill. Not to mention the amount of money I spend a month on gas and groceries. Did I mention that I only make $8.25 an hour?

Reading that paragraph, alone, is enough to stress anyone out, but have no fear! I have a few tips and tricks that have helped me save money along the way that are easy enough for any broke college student.

Save your spare change.

If you're lucky enough to have a washer and dryer in your apartment or house your money will accumulate much quicker than mine due to my lack of quarters. Put all of your spare change (and the occasional dollar bill) in a jar. At the end of the month, take the jar to the bank. The next step is up to you. Whether you want to deposit the money into the bank, keep the cash to spend or hide it away is all up to you.

Put away money each paycheck.

Hide an envelope in your underwear drawer. Each payday, withdraw the desired amount of money and place it in the envelope. If you put $10 in the envelope each payday for a year (given you are paid bi-weekly) you will have a little more than two-hundred bucks to put in your pocket.

Sell your old clothes and belongings.

We all know that you probably have a few (or several) things hanging in your closet that haven't been worn in years. Clean out each of your drawers, your closet and your shoe collection. Sell your items to a local Plato's Closet (or any resale shop). You can also look into yard sale sites on Facebook, just be safe about how you make your trades!

Use the envelope method.

I personally have never used this method, but it has worked for a lot of people I know. Here is what you do... have envelopes labeled "groceries," "bills," "eating out" and whatever else you spend money on a monthly basis. On your payday, place the allotted amount of money into each envelope. This is especially nice for those working paycheck to paycheck because it ensures that you won't overspend too much in one area. I do, however, encourage you to have an envelope labeled "random" or "fun," because sometimes life is unexpected.

Shop for off-brand groceries.

Even if you can't fully commit to getting all of your groceries at Aldi, at least try to get the essentials. It is understood that some things must be bought name brand, but there are a lot of things that taste virtually the same even when they are off-brand. Bonus points if you can get your entire grocery list at Aldi. I used to get my groceries at Wal-Mart and would spend between $100-$120 a month on groceries. Now that I shop at Aldi I spend no more than $80 a month on groceries.

Stop eating out.

We're all guilty of spending money on food when we know we have food at home. Challenge yourself to eat only the food that you have in your pantry. If you aren't that good of a cook, get creative. There are many different food combinations that you can make that will keep you from getting bored with your own food.

Obviously following through with each of these tips at once would be a bit overwhelming. These tips and tricks aren't for everyone. You can obviously tweak and change each rule to fit your financial situation. I guarantee that if you follow through with at least one these tips you will see a difference in your bank account.

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

Waitlisted for a College Class? Here's What to Do!

Dealing with the inevitable realities of college life.

61358
college students waiting in a long line in the hallway
StableDiffusion

Course registration at college can be a big hassle and is almost never talked about. Classes you want to take fill up before you get a chance to register. You might change your mind about a class you want to take and must struggle to find another class to fit in the same time period. You also have to make sure no classes clash by time. Like I said, it's a big hassle.

This semester, I was waitlisted for two classes. Most people in this situation, especially first years, freak out because they don't know what to do. Here is what you should do when this happens.

Keep Reading...Show less
a man and a woman sitting on the beach in front of the sunset

Whether you met your new love interest online, through mutual friends, or another way entirely, you'll definitely want to know what you're getting into. I mean, really, what's the point in entering a relationship with someone if you don't know whether or not you're compatible on a very basic level?

Consider these 21 questions to ask in the talking stage when getting to know that new guy or girl you just started talking to:

Keep Reading...Show less
Lifestyle

Challah vs. Easter Bread: A Delicious Dilemma

Is there really such a difference in Challah bread or Easter Bread?

39955
loaves of challah and easter bread stacked up aside each other, an abundance of food in baskets
StableDiffusion

Ever since I could remember, it was a treat to receive Easter Bread made by my grandmother. We would only have it once a year and the wait was excruciating. Now that my grandmother has gotten older, she has stopped baking a lot of her recipes that require a lot of hand usage--her traditional Italian baking means no machines. So for the past few years, I have missed enjoying my Easter Bread.

Keep Reading...Show less
Adulting

Unlocking Lake People's Secrets: 15 Must-Knows!

There's no other place you'd rather be in the summer.

960908
Group of joyful friends sitting in a boat
Haley Harvey

The people that spend their summers at the lake are a unique group of people.

Whether you grew up going to the lake, have only recently started going, or have only been once or twice, you know it takes a certain kind of person to be a lake person. To the long-time lake people, the lake holds a special place in your heart, no matter how dirty the water may look.

Keep Reading...Show less
Student Life

Top 10 Reasons My School Rocks!

Why I Chose a Small School Over a Big University.

204555
man in black long sleeve shirt and black pants walking on white concrete pathway

I was asked so many times why I wanted to go to a small school when a big university is so much better. Don't get me wrong, I'm sure a big university is great but I absolutely love going to a small school. I know that I miss out on big sporting events and having people actually know where it is. I can't even count how many times I've been asked where it is and I know they won't know so I just say "somewhere in the middle of Wisconsin." But, I get to know most people at my school and I know my professors very well. Not to mention, being able to walk to the other side of campus in 5 minutes at a casual walking pace. I am so happy I made the decision to go to school where I did. I love my school and these are just a few reasons why.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments