Money Saving Tips for College Students
Getting a job isn’t the only way to get more money as a student. A dollar saved is worth just as much as a dollar earned, if the dollar goes for something you have to pay for in the first place. I am not talking about saving money on a new cashmere sweater, that isn’t comparable to a dollar earned. Here I am talking about money saving tips college students for common bills like rental and food.
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Money saving tips for College Students
Knowing a few money saving tips can really put that extra cash in your savings account where it belongs or if you are a student make your semester more pleasurable. One of the first things you should do is figure out your bills or monthly expenses. This means things like your mortgage or rent, car payment, food bill, utilities, and cable or Internet. Add allof these up and look at the lump sum you need monthly. Now subtract that amount from the money you make monthly, or have available through student loans of parent funding, assuming you have enough to pay the bills, which most people do. Okay, at this point you need to think about all of the extras you spend on each week or day. This can be all sorts of things, but you may not typically consider them.
At this point, let’s go over common extras that people spend on all the time. Knowing what these things are will help you start saving money. First of all, there is the caffeine bill.
How often do you purchase a coffee outside of your home? These can cost anywhere from two to five bucks a pop. If you’re buying one every day, that’s a lot of cash each week spent on java fixes. So one money saving tip is to cut this out, or at least limit yourself to one or two lattes each week.
The cable bill
Now consider your cable bill. Do you pay for the full movie package? More importantly, do you even watch what you pay for? Most people don’t. So this is one of the more obvious money saving tips. Don’t throw away your cash on wasted entertainment you won’t even miss.
Dining in, not out
How about dining out? This may be the number one issue with people in America today. Everyone spends tons of money dining in restaurants daily. You would save so much if you ate at home.
One of the biggest expenses for “active” students is party money. This could the single most important money saving tip, but probably one few want to follow willingly. If you want to save money, drink and part less. Alcohol costs really add up over a year!
Start saving and stop struggling
Now, these are just basic money saving tips that can benefit most people, but students in particular. You have to keep in mind that these mundane expenses add up very quickly. If you are tired of struggling get ends to meet at the end of each month, you might want to try one of these tips.
Share your best tip: Have a money saving tip of your own? Leave a comment below and share your best money saving tips for college students with us!