My dad’s advice before I left for college always echos back to me “Live within your means and you’ll have happier memories” and he was always keen to remind me that in sticking to a budget doesn’t necessarily mean it will ruin your college life and make me miss all the fun.
While it’s very tough to have a piggy bank to squirrel away any extra funds in college, it doesn’t get any better when you leave college with your diploma. A lot of students in the UK and most certainly in the western world leave college and university with colossal amount of debts on their name. However, it is still possible to get out college without drowning in debt and have a little saving to enjoy. Here are seven tips to help you save money however much you think it impossible.
- Seek scholarships and financial aids
Most universities and colleges offer ways of earning money and this could be used to generate extra spending money if not to offset some of you college tuition fees which saves you from additional student loans. Everyone loves free money and scholarships are a sure way of getting free money to improve yourself and your career setting you up for the future on the front foot.
- Consider living at home
When you become a young adult, you really don’t want to be denied the chance of moving out to leave in college and experience the life in university. Unfortunately, moving to live by yourself without a job can lead young people to mountains of debt. Living at home could help students save on rent, food, expense like energy and utilities which could save you thousands.
- Use saving apps
Saving apps can be the answer to ensuring you spend wisely. Apps that help you get money back on a purchase should be your best friend.
- Use student discounts
When you are out in the shops near your campus keep an eye to see if they student discount available. Being in the 21st century and most students being tech savvy, it is worth browsing the internet for offer on their purchases. The big question you should ask yourself is, “Is this a product I want or need and would I buy it irrespective of the price?” If so, this might be worth the use of the student discount and not to buy an entertainment unit to keep you grooving.
- Save Automatically
Bots like Chip and apps like Curve have become very handy for young students. Apps are becoming clever to the extent they can study your habits and organise auto-saving, and save-the-change function when paying by debit card. The puchase value is rounded to the nearest pound and those pennies that are extra in that transaction are put aside for you in your savings account. Keerching!
- Set a Spending Goal and stick to it
Unless you are really disciplined, this is a hard one to keep. Even working adults find it hard to stick to budgets goals some even until they retire have never mastered their own spend. If you work out your critical expenses and reserve that, then the rest can be classed as disposable and with a good budget you should be able to create spending goals you can easily stick with.
- Cook your own meals
Takeaway are a nice treat but they shouldnt be substitute to making your own meals. Takeaways are a sure way of stretching you thin especially if you have no income. Cooking your own meal helps you cook complete healthy meals cheap and as a result save you money and helps you leave a healthy lifestyle.