Is it hard for you to be a college student and save money? I have been in college for four years now. I have never saved more than $5. Every time I do try to save money, something seems to come up. The cost of classes, books, clothes and looking nice can take it's toil on me financially. Any suggestions?
It is possible and I have many suggestions for you. First off is applying for scholarships and bursaries. Here in Ontario Canada there are thousands of dollars up for grabs. I know many students who get these dollars by just applying themselves in class and apply for the scholarships and bursaries. Too many students don't even bother looking into them so it really pays off for those that do. For texts, you can look online for discounted used books. Sometimes you can find an E book version for cheaper. You can also share books with others in the class I've used that in University many times. BUDGET. This is the most important one. Track every penny you spend. Cut out unnecessary spending. It should not cost a lot to "look good." 75% of college students generally just wear comfy clothes anyways and one of the varsity sweaters. Even if you are in a professional program and have to wear a suit/scrubs or whatever you can still shop smart. How much exactly are you spending on clothes? NOT eating out everyday. Sure you have be social and dine out, but not everyday. Starbucks and sushi will KILL your budget. Make 90% of you meals at home. There is no reason to spend more than $10 a day on food and drinks in college.
Other ways you could save some money: - Don't eat out. Ever. - Sharing utility bills could save you money so if you can live with other students do so. Share them bills and watch your wallet fatten. - There are great deals for students on almost everything. Why pay full when you could "play the student card" any time? - Borrow books from libraries.
I'll be honest. My entire life was spent "saving" money FOR COLLEGE. I agree with you. College is a time to work in order to live. If you are breaking even, in my opinion, you basically ARE saving money. You can't really have a full time job, so your salary is not likely to be something higher than the cost of living. Also, you can't get extra hours because you are working in your free time, not the other way around. And, of course, if you aren't already taking out massive loans just to pay for school, you might already be in debt anyway. You are doing great. Don't expect to graduate with your bank account in the black. The best you can hope for is VERY LOW or no debt, and a world of opportunities for money when you graduate.
It's definitely difficult to save money in college, but it's not impossible. Drinking will definitely impact your wallet in college. Make sure not to drink too much in clubs and bars. Buying alcohol from the stores in much cheaper. Learn to cook as soon as possible, and it will save you tons of money, and will keep you healthier than those only surviving on noodles and cheap rice. Don't make impulse buys. Take some time before buying something and think it through. You may find out that you don't really need that certain something you wanted to buy. Hope it helps!
Cutting back on buying clothes will help, but I do understand you should also enjoy college life, but you can on a budget. You don't say if you work, but even if you work a few hours in the library then that can help. Books will always be expensive, but trying to keep up with others is another factor and don't give in. Plan your food budget and put a limit on when you go out or choose house parties which are cheaper than going to clubs.
^Buying the books from other students or downloading them from the internet can work for saving money too.
I don't know how you could save money while studying. I was lucky to be on a full government scholarship when I went to uni; which covered accommodation, food, books, an allowance at the beginning of each semester and anything else required for my course. Anything I made waiting on tables was for my personal use, but there was never enough for me to save. I think although in some ways students have it harder now, they equally have more options like online work. I guess you could squeeze in some online work around your school work. Draw up a monthly budget, cut back on going out and shopping, if you really want to put something aside.
My brother manages to save money by sharing an apartment with other 3 persons, so the rent is divided by four. He actually likes the fellows and never complained about them. He doesn't eat much and on average spends only 10 euro per day. If you want to save money, then you must be commited to giving up on caprices!
I managed to save quite a lot of money when I was a student, because I was always on the lookout for a bargain, and never bought anything unless I was completely sure that it was something that I needed. Now, I am definitely grateful that I did this, because I know that it has got me into good habits that will last me a lifetime. It can be difficult to break bad habits, but you can certainly do it if you try!
I feel your pain! I'm about to return for my Master's, and I dread not having money. I worked two part-time jobs while at school, but one of them was on campus. My advice would be to look around on campus for jobs. Go to the student center and see if they can help! Professors always need assistants, and there are usually some summer jobs on campus. I would put my paycheck from the on-campus job in savings and use the other paycheck for necessary purchases. I'd also advise you to love the free things around you, like parks!
It's far harder being an student than in my day, in terms of costs. I guess the only thing you can do is control the controllable. Things will always happen that are beyond your expectation and out of your control. But for the things you can control, put in place powerful processes and disciplines. That might mean putting in place boundaries on your spending but ultimately it could pay off in the long run.
I think saving money when you're in college is not an easy task. What you can do though is not really putting aside money but to cut costs and limit the amount of money you spend. I think from the suggestions above, the first one is very important. Prepare your own meals rather than eating out. There are a lot of helpful websites online with recipes for dorm-friendly meals. Here are some:Log InLog In
When I was going to college I had to wear uniforms, so I didn't worry about the cost of having to buy new clothes often. I actually found it quite easy to save money while I was going to college because I did not have to shoulder anything from my own pocket because my dad paid for everything. Try to look for 2nd hand books instead of buying new ones so that you can save money.
I was lucky because my father was earning good when I was in college. He would always give me an extra so I can have money for my personal needs. Although I seldom buy clothes, I love trinkets and fancy bracelets which were the craze at that time. And I would always have something for my piggy bank.
Check your search engine for student discounts in your area. Find the college newspapers about specials just for college students. * one site created in 2012 :Log In *(couldn't find date of creation)Log In Good luck!
One new thing I'd want to take advantage of if it were available when I was at university would be online earning. These tasks usually only take a small amount of time and I can get extra spending cash from it. The amount you get might be small but it's still better than nothing. With this, you won't have to save as much and you could maybe even make enough to splurge a little more than you originally would have, especially on food since saving up usually means you have to stick to the cheaper options over and over.
