As a student, one of the best practices that you need to embrace is saving. Remember you are in class most of the time and hence may not have enough time to make more money. You can make good use of your current income by limiting your expenditure. If not, you will discover that you cannot go the semester halfway before you become broke. You don’t want to be broke as your schoolmates run through the eight to nine months smoothly. It can be challenging to save more so if you wish to maintain a social life. When the grants come in, you may think that you are rich. However, I want to assure you that it will not last for long unless you learn to balance your books. Here are some tips on how to save money in college.
Cooking Communal Dinners
Several advantages come with taking turns to prepare house meals. You will discover that it is cheaper to buy foodstuffs in bulk and cook them at once. Therefore, you will not be having a lot of processed food in your room. Besides, you will not be cooking every other day of the week, and this is an added advantage. If you have housemates, who can cook even an egg, prepare your food in bulk and then refrigerate or freeze the extra portions. However, it can be more beneficial if you cook commercial dinners with your colleagues. You can save money in college by cooking as a team.
Always be on the Lookout for Bargains
Student discounts are one of the best things about being a learner. Visit the ‘reduced’ segment of the supermarket, and you will discover that it is the best new friend that you have. If you find out that some of the goods are on special offer, make sure you stock enough. You can also save a lot of money by buying your books online. There is no need to purchase expensive new textbooks when you can find second-hand options that are still in good condition online. The good news is that the information is the same whether you are reading a new or used book. Make sure it is the right edition, and you will be good to go.
Get a Part-Time Job
Getting a job can serve you at two levels. The first one is that you will be making some money. Several benefits come with making your income. The second benefit is that you will not spend the money you already have on social events during your working hours. The job will reduce the time you spend blowing out with your friends. Therefore, you will be able to make more money and expense less. However, schedule your time well so that you don’t miss your classes or fail to submit your arraignment in good time. You need to strike a balance between learning and working.
Compare the Cost of Utilities
You need to sit down and compare the pricing plans of various electricity and internet providers. You can save a lot of money at the end of the year by going for cheap service providers. Don’t hesitate to cancel or play hard on your current utility plans. In some cases, even threatening to switch to another provider will get you a better deal from your provider.
Prepare Packed Lunches
That cozy shop downtown could be having amazing lunch packages but eating lunch in a hotel will drill a big home in your weekly budget. You can save a lot of cash by carrying packed lunch to college. You can save a lot even if you are going to school a few days a week. This game involves fine margins that can do a lot of justice to your pocket.
Say no to Credit Cards
Credit cards may appear to be a brilliant idea but they are dangerous. Something may tell you that at last you are embracing adulthood by having the shiny new addition in your wallet. Several students end up in crippling debt because of these innocent-looking credit cards. Make sure you avoid them as much as you can.
Get Yourself a Bike
You can also spend a lot of money by paying the fare to school. Avoiding public transport and cycling to college can help you save a lot of money. However, it will call for some sacrifice especially when it is raining. If your college is too far, then you may not benefit from this tip.
Prepare a Budget and Stick to it
Several students blow all their grant payment within the first week. You will find yourself wallowing into regret for the remaining part of the semester. You can make a weekly budget and stick to it so that the money can run you throughout the term and even save some. You don’t have to spend more than your budget can sustain if you want to save money in college.
Experimenting with Brands
Look for savings on different items whenever you come across them and feel free to try various supermarket alternatives and brands. You should not stick to the products and stores that your parents use. You may discover that you are getting cheaper options and better quality. Saving a few cents on each product may not appear to be a lot but you can be sure that it will add up to a significant amount. The most important thing is to look for stores and products that offer affordable pricing. It will help you save a few coins without interfering with your quality of life.
From this article, you will discover that it is not hard to save money in college. However, this calls for a high level of discipline from your end. It is good to cultivate this culture early in life because it will help you all the way to your old age. You can use any of these tips depending on your circumstances.