Everyone knows that college is mega expensive, but you don’t have to let the experience leave you broke. There are simple things you can do everyday to help you spend your money wisely. So be the scholar you are and follow these five simple tips below:
1. Manage your money.
Don’t let the whole semester go by without knowing how much money you have, especially if you’re not employed. If you’re living on a fixed income, ignorance is not bliss. You don’t want to wake up in mid-October and realize you’ve already spent most of your summer savings. Instead, check your bank account regularly online and always be aware of how much money you have available to you. If you are responsible for any bills make sure you make payments regularly and on time. Most banks also offer online bill paying to make paying bills very convenient, so take advantage of it! You don’t want to end your college career with a B.A. and bad credit!
2. Buy used textbooks…
…Because they’re just as good as new! Get to the bookstore A.S.A.P., preferably before classes have begun, and look for the best used textbooks that you need. Don’t be intimidated by someone else’s highlighting, instead just take it as someone else’s opinion of what was important in the reading, and buy a different color highlighter. If there aren’t any more used textbooks available and the price tags are giving you serious sticker shock, check out online resources where you can rent textbooks. Websites like chegg.com and bn.com, Barnes & Noble’s website, rent textbooks for the semester. Half.com is another website where you can buy used textbooks directly from fellow students, much like eBay. Remember, if you save money on your textbooks you’ll have more money for fun!
3. Don’t hang out with big spenders.
Most people have a friend who doesn’t care about their credit card debt or have a rich parent to pay their credit card bills, just don’t go to dinner with them. These types of people are more likely to order expensive appetizers or take you to places where you can’t afford to shop, which in turn may make you feel pretty low. So just say no thanks when they want to hang out off campus. Instead, take a rain check and invite them to your dorm for popcorn and a chick flick or organize an X-Box tournament for a bunch of your friends. Those plans will be inexpensive and a lot of fun for not a lot of cash.
4. When you want to buy something, ask yourself “Do I need it?”
This is a trick that the savviest spenders always use. I know those little black heels are cute, but do you already have two other pairs that look too similar? There is a huge difference between wanting something and needing something. If you’re a lady who loves to shop, to save money organize some of your friends and have a get together where you shop in each other’s closets. Each girl brings a few items they wouldn’t mind bartering with, and then you trade with each other. This is a great way to acquire some new clothes without spending a penny. If you’re into video games and you want to save some money look into websites like gamefly.com or numbthumb.com. These websites let you rent games like Netflix, so you pay one monthly fee and receive games in the mail. This is a great way to save money and try new games without having to purchase them. Just don’t forget to make time to study too!
5. Spend less than you earn.
This is the simplest principle of capitalism. If you spend less than you earn you’ll have more money at the end of they day. If you make a budget you can stick to, and spend less money than you earn, you’ll have a nice little bundle of savings to enjoy. So instead of spending each paycheck on going out and building your wardrobe, try saving a chunk of your paycheck first and then deciding how much to spend on eating out and having fun. Before you know it you’ll have a substantial sum of money you can spend on something really fantastic, like a semester in Europe or a sweet summer road trip. Remember, spend less save more and you’ll be traveling in no time!
Don’t let money woes dampen any part of your college experience. Be aware of your cash flow and spend and save wisely so you can make the most out of your social life without going broke.
Contact the Westchester Education News Examiner at: WestchesterEdExaminer@gmail.com
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