Following the holidays, we are probably all looking at our bank account with anything but Christmas cheer. Here are some practical ways to save money in this new year.
1. Pay in Cash
A lot of times in college, we buy EVERYTHING on our credit cards. From Uber to snacks to spirit wear and everything in between. At the end of the month we are staring at our credit card bill thinking, "How did that happen?" If we take out a cash allotment for what we want to spend that month and only pay with that cash, it will be a lot easier to control how much we are spending.
2. Go on a fancy date to waffle house
We don't realize how much money we spend eating out. If you want to go out to your SO, find somewhere cheap but good like Waffle House. Instead of spending $40 you can spend $15 and still get the full date experience.
3. Open a Savings Account
If you don't have a saving account open one!! This will allow you to put money aside for SAVING and not SPENDING. It can help you limit how much you spend.
4. Turn off all your lights before you leave the house.
I mean I think your parents told you this from age 5, but its still something to remember.
5. Before you buy something, think about how many hours of work you completed to earn that. Then ask yourself, "Is it really worth it?"
This will convert your money into time, which you probably see as more valuable. For example, a sweat shirt for $50= 5.5 hours of work (not worth it). A Cookout milkshake ($3) = 0.5 hours of work (totally worth it).
6. Have a movie night in!
Instead of dropping $50 on dinner and movie, make a nice home-cooked meal, plug your computer into the TV, and find a free movie you like. Wal-a the perfect date night without dropping a penny.
7. Make the most of your flex dollars and meal plan.
Make sure you use up all your flex and blocks, or downgrade your meal plan. Also, don't be shy in taking some fruit and cookies home from the dining hall.