College days are meant to be enjoyed to the fullest. Because once you finish your college life, your life of responsibilities starts. So, to make this future task a bit easy, you could start taking a small responsibility right from college. When you are in college, you could start saving small portions of money, these could be from your allowances or the jobs that you do to support yourself or your loans. This one small beginning can take you a long way.
However, since time equals money, if you can find a way to save time off your college work, you have equally found a way to save money too. Assignmentgeek.com is one popular platform wherein you can get your college assignments done without any hassles. They have a team of the best writers offering their services for a really small price. See, we just gave you your first idea to save time.
Now that you have decided to save time, let us help you with a few tips on how you can get started to save money.
#1. Get A Job
This may sound impulsive, but do not get us wrong. Getting a job does not necessarily mean working 8 hours. Doing something for at least 2 hrs. a day or as a freelancer to earn money can also be defined as a job. So, if you can take some time out from your schedule, you should definitely try and make some extra bucks. This amount or a small portion of the amount can contribute towards your savings.
#2. Organize Your Money
Just like organizing your schedule is important, organizing your money is equally important. Your motto should be- always save before spending. Whatever amount you get you should first save an amount and then plan your budget with the rest of the amount.
#3. Pay Off Debts Before Anything Else
Try not taking any debts or loans in the first place. But if times were tough and you had to take the ‘loan way’, before spending or investing anywhere else, pay off these debts asap. Debts can lead to a lot of restlessness and major problems if not dealt on time.
#4. Start Some Sort Of Investment
There are lots of options available in the market for student investments. Once you are done with the above steps and follow them thoroughly, you should then think of investments. No matter how small the amount is, but these little amounts may give you a bigger amount in the future when you need it the most.
#5. Have Fun With Least Expenditure Options
Many enjoyable things in the world are free. Explore those things and you will realize there are a whole bunch of fun things that money can’t buy, and you can have real fun with minimum expenditure.
#6. Make Maximum Use Of Student Discounts
There are student discounts available in almost all places. Visit these places to save on your pocket and have fun. Student discounts are also available in retail and online shopping. So, use these and you can save a whopping amount.
#7. Create A Savings And Emergency Fund
A savings fund and an emergency fund are two different kinds of funds. Make sure to have both. Emergency funds will attend your emergency expenditures like hospitals, vehicle breakdowns, or even sudden birthdays and weddings, etc. Saving funds are for the long term. They should be used exactly for what you have saved them. Your savings fund can be used for higher education, buying an apartment, etc.
#8. Be Vocal About Your Birthday Gifts
You know your friends are going to give you gifts on your birthday, so why not think economically about them too? Let your friends know what you need specifically. Of course, you should ask their budgets first or enlist the gifts on some site for them to know it easily.
#9. Do Not Buy Subscriptions, Try Sharing Them
Subscriptions such as Netflix, iTunes etc. can be an extra expense on your pocket. Try buying shared subscriptions or use the free ones. According to data, students have been spending too much on subscriptions which have been an unnecessary add-on expense in their budget.
#10. Small Things Go A Long Way
Carry your water bottle, walk an extra mile to save on the transport, save the changes in the piggy bank, carry limited cash when eating or drinking out, do not buy anything unless necessary, etc. These are some little things that can add a lot to your savings.
The above ideas can truly help you in saving money. Managing resources while in college is really not easy and especially when you have beautiful years to enjoy.
At the same time, saving money is not an easy job. You have to get into the habit. But saving money does not mean you have to be stingy; it is just that you have to be organized and set your priorities for spending. This habit if inculcated in college can help you throughout your life.