College is expensive enough as it is- between tuition, room and board, a meal plan, and other expenses, it’s almost impossible to save money for anything else. But, if you follow these five key guidelines, you will save money- guaranteed.
One: EAT AT THE CAF. I couldn’t stress this one enough! You have already paid the money for your meal plan in your loans, take advantage of it! I know eating at the dining halls can get old- but trust me, the money you’ll save from eating out is SO worth it. Instead of going to chipotle, find a cafeteria on campus that is serving Mexican; Instead of ordering insomnia cookies, take a cookie from the caf (I know they don’t compare, but food is food and money is MONEY). It really is mind-over-matter, and you’ll thank yourself later for saving that extra $10 for when you actually need it. There are different dining halls on campus and if your school is like mine, they all are serving different food. If you’re already thinking of walking or busing to the nearest restaurant, save yourself the money and walk or bus to a caf that is serving something you want to eat.
Two: Get an on-campus job. Now, I know for some of us, having a job is incredibly hard to fit into our class schedule. However, jobs through your college or university are renowned for working around your student and academic schedules- they know you are here to learn, and that comes first to both you and them. This being said, they still need workers and are great at giving you limited hours so you can still get a paycheck without overwhelming you with your schedule. There are many different jobs around campus to look for, and I am sure everyone can find something that’d work with them as long as you look hard enough. Many of the places on campuses hire more workers than they need in order to accommodate schedules and allow for simple switching of shifts for the students. Even if you only work about ten hours per week, getting some money added to your bank account every week (or two) is better than none.
Three: Budget. This is an age-old tool, I know, but there’s something to be said for it! Personally, my way of budgeting is splitting up all of my paychecks. Each paycheck I get at least half, if not more, goes into my savings account that is exclusively used for school purposes. The remaining amount I then put into my normal savings account that gets spent on other living expenses. This way, I have only allotted myself a certain amount to spend on frivolous things, and the rest gets saved and used for when I need to buy books and such for classes. This really helps me save a good portion of each paycheck, which helps me not to feel as guilty if I do decide to buy food or clothes every once in a great while. Another key-point to this guideline is having a separate savings and checking account. This has proved to be so instrumental in me saving money both in and out of school because this way, I must consciously transfer money from my savings into my checking account each and every time I make a purchase. I am not able to just swipe my card, but have to deliberately decide to make that transfer and spend the money- it makes buying things a lot more difficult, trust me.
Four: Don’t go out every weekend. I know college is notorious for parties and social life, but just give this one a read and maybe even a try! This is difficult for some people and easier for others, but it is one of the most important ways to save money in college. Of age or not, going out and partying is expensive. Between the clothes and the makeup girls go though, the money spent on alcohol, Ubers, late-night food, etc., you can easily spend upwards of thirty dollars in just a few hours. And that’s thirty dollars you could have easily saved, and probably will regret spending in the morning. Listen to your parents once in a while and realize that you don’t need to be intoxicated to have fun. Some of the best times I have had in college have been having a movie night with popcorn and your best friends, having fun pool days, watching the bachelor in a dorm room full of girls on a Monday night, and going to football and basketball games. Going out and doing things can be fun, but it really adds up and breaks the bank- allow yourself to enjoy and actually remember parts of college, and save the money while you’re at it.
**BONUS: Guideline #4 will also help you stray away from gaining weight, too!**
Five: I read this one somewhere and I have recently decided to try it- and it seemed fitting for number “five”. It is, save every single five-dollar bill you come across in a jar. Five dollars isn’t a lot, so taking it out of your wallet won’t hurt it too much, however it does add up quickly. I know this is tempting, five-dollar bills are perfect for Ubers and ice cream runs, but you’ll thank me in the end. There’s no minimum or maximum, no quota to follow per week or month or any time period, you just have to, every time you have a five-dollar bill, save it in a jar. You can be as simplistic as finding an old mug to put it in or decorating a cute Mason Jar to go with the theme of your room, but either way, save the fives. Then, at the end of the semester or year (if you can wait that long), deposit it into the bank and see how much you’ve saved. I’m looking forward to trying this out myself, but I can already see the hope for savings for me.
It really is all about being conscious- money can either go a long way or it can be spent in the blink of an eye, you just have to know what you’re doing. Some of these will take baby steps and some getting used to, but if you do even one of these, you’ll be pleasantly surprised at the looks of your bank account after just a few short weeks. It is one step at a time, and here are five simplistic ones that any college student should be able to abide by.
