It's no secret that saving money is not an easy task. The temptations of buying things such as fast food, clothes, makeup and etc. sometimes just look too good to pass up. However, as a college senior about to graduate I would urge you to start early! This is something I have struggled with but finally have down pat.
It is so important to start saving early, the earlier you start the more you'll save. I think the realization for me was "Wow i'm moving in a year and don't have much saved at all". I kept thinking "Oh I will start next week", well next week kept snow balling to the next for about two years...
I have created a list of ways for you to save money in college, this way you don't have $3 to your name after you graduate.
1. Create A Meal Plan
When you go to a fast food restaurant your'e typically spending around $10. Not much right? Well when you doc that everyday that is around $310 A MONTH! And that is only if you eat out once a day. Creating a meal plan could help your health as well as your wallet. Creating a meal plan allows for meals to last longer throughout the week so you're not running to subway twice a day but it also saves you money in the long run.
2. Buying Textbooks The Smart Way
You may be tempted to go the the campus bookstore the day you find out what textbooks you need but I strongly urge you not too. Campus bookstores are extremely over priced, there are websites such as chegg.com or amazon.com that sell new or used and also have an rent option for textbooks at a much lower rate. I always rent my textbooks, its super easy and you just mail them back at the end of semester. This is typically the cheapest option, unless you prefer digital books.
3. Shopping
Before you hit the mall with all your friends make a list of everything you would like to get. Then take a second look and mark out everything you don't absolutely need. Lets be real, do you really need more clothes? Probably not considering the closets in the dorms are extra tiny. Create a list, and stick to it! This is the easiest way to save money and not impulse buy. Also: Beware of online shopping, it is the secret killer of wallets everywhere. It may feel like a gift from yourself to yourself but really its costs money (and even more because of shipping and handling).
4. Attend Campus Activities
You may want to take a break and go do something fun with your friends but be mindful. Instead of going to see the new movie that came out next week try attending an campus activity instead. They typically have fun things for students to do planned out for the month, plus they're free!
5. Keep Track Of Your Funds
When we set up our checking account it is always nice to set up automatic coverage. This way if you miscalculate your funds and overspend, you will be covered until you put more money in the bank. However, with this in mind it is easy to spend mindlessly. I personally check my bank account every Sunday and budget for the following week. This helps me know how much money I have currently, how much is coming in, and also how much will be going out. This also helps to keep your checking account in track.
My mom always says to me, "When something is on sale you're not saving, your'e just spending less", this always makes me double think my purchases to see if they are really a necessity.
