Money saving tips for College students

If you are a college student, then you can agree with me that you are living on a budget. Although you rely on your parents for money, you should bear in mind that the key to financial success is tracking how you are using the little you already have. You first of all have to cut out the bad habits and at the same time invest a lot of time and commitment in regulating your unplanned expenses.

Most of college students are living in a tight budget but the fact is that only those students that can be able to manage what they are getting from their parents that make it financially. In this short brief, we are going to discuss some of the most influential money saving tips.

Cut unnecessary costs

If you can be able to cut out some bad habits, you will be surprised at how much you can definitely save. The first thing in this case you should stop buying in impulse. You have to be strong and avoid giving in whenever a store owner tells you to check on a new arrival. There are very many tempting things that happen on the way and for this reason you need to have self control on matters concerning money. Even when you see a dress you like, take some time to control yourself and put it on your next budget not just buying it instantly.

Make your own money part-time

When we are talking about saving money, we also have to touch on how you can make your own money part time while in school. Today there are several ways of making money while at your own house. You can make money as a freelancer or just reviewing products on YouTube. Today there are several blogs and guides online that can greatly guide you on making money online and offline part time. What this means is that you can always earn money while you are in campus to supplement what you are receiving from parents. You can start taking online paid surveys, do online market trading, start your own website and monetize it, review apps, websites, and other products for money or start operating your own business in town.

Create a weekly budget

Behind every financially successful individual is a perfect budget. If you haven’t started budgeting yet then you are missing a lot. There’s no better way of ensuring you use the right amount of money in a week that creating your own weekly budget. It’s so difficult to realize the amount of money you are using until you drain your bank account and you cannot be able to account for any single cent.

If you want to save a lot of money while in school, you have to start by making a budget every week so as you can figure out how much you have to spend each week. After receiving money from your parents for the whole semester or just for a month, you have to divide it with the number of weeks and ensure that you are using the right amount of money each week. The good thing is that there are several applications that can help you budget. Get Personal Capital application for all your budgeting needs.

Get Additional Financial Help

Previously, there was a notion that scholarships are for intelligent students and those with higher GPA only. Today, this notion is proven otherwise and hence there are several areas where you can get financial help. The fact is that an average student might also get scholarship. There are several institutions and NGOs that offer scholarships to students regardless of their schooling ability. You can as well get help from Government loans that. Most of the governments today offer a zero interest loan to their students to support them financially. If possible, apply for all the scholarships and government financial help programs. Who knows, you may land into one or two financial helpers and have an easy time in school.

Manage your party time

I don’t have to say ‘’don’t party’’ because this is almost impossible for college students but I have to admit that most of college students waste a lot of money partying. For this reason, you have to minimize your partying budget and time. If you have to party, then look for free parties. Most of the schools organize a number of parties for their students in a semester and for this reason, this is the best places to be. If you have to get out with friends, then make it once or twice in a semester.

Save money on Accommodation

In most of the areas, you can find Brokerage free accommodation. As a student, I know there’s a lot of work which is put into getting accommodation and having a good roommate. In fact accommodation takes the larger share of your school pocket money. The good thing is that there are several ways you can save a lot of money on accommodation. Today, you don’t have to search for accommodation and a roommate manually; you can search online for a good accommodation and flat mates. If possible, build a strong bond with your roommate so that you can be sharing the cost and doing everything else together. This is one of the ways of saving a lot of money on accommodation.

Buy used textbooks and use a local library

Textbooks can be expensive and if you don’t take caution when buying them they can take up to 30% of your money. For this reason, you can start buying used textbooks. In fact there’s nothing to lose because new and used textbooks contain the same content. Attending private libraries can also be expensive. The good thing is that today, many schools provide a library for every course. For this reason, you can either use the school’s library or use a local inexpensive library.

The bottom line

The above are just some of the ways that you can save money while in college. There are several other ways but the above are some of the most effective. If possible, cut cost in your traveling too. Most of the students use a lot of money on fare.