10 Budgeting Tips For College Students
Want to learn 10 budgeting tips for college students? As a college student, learning how to budget your money effectively is one of the most important skills you can have. Learning to live on a budget is vital for your success as a college student and as a person, because wise budgeting skills will last throughout your life. Here are ten tips to help you start budgeting without sacrificing your social life (and beer money).
- Shop around. No matter what you are buying, take the time and effort to shop around. Never buy the first thing you find. Look at other stores and online to find the best deals.
- Find coupons. Take a cue from grandma and cut coupons to help you with budgeting. There are plenty of websites that allow you to choose and print your own coupons quickly, without having to sift through the Sunday paper. Coupons can really add up, and they're not just for groceries. Use them for whatever you can, as they will help you save money.
Save your money. This one is kind of obvious. Choose a nearby bank and open a savings account. Every time you get paid, put a percentage of your check into this account. Learn to make the most out of the rest of your check, and keep your hands off what you put into savings. This is the only way to save up money for big purchases, like a car.
- Go out for less. Instead of putting out big bucks on a cover charge for a club, look around for cheaper ways to go out. Try hosting a BBQ, going to a park or even a ballgame. There are plenty of ways to have fun that don't include expensive charges.
- Save on books. College students should never buy a new book, as you will lose a lot of money in the process. Look at the bookstore for used books or look online. There are sites that allow you to download a book electronically for less than half the price. Saving money on books and other supplies is an essential budgeting tip for college students.
- Cook your own food. Even though you are a college student, you don't have to spend your hard-earned money at the cafeteria. You can cook your own lunches for much less! Look for easy recipes online, and buy groceries on sale.
- Buy discount clothing. Never buy full-priced clothing. Learn to love stores like Goodwill, where you have a great selection of used clothing. It will take a little more time to sift through the racks, but this budgeting tip will help any college student save money!
- Save on gas. Look for simple improvements to make to your car to make it more economical. Properly inflate your tires, avoid stop-and-go driving and just go slower.
- Don't impulse buy. Do you think you want something? Wait at least a week, and see if you still want it. If so, look for it cheaper at other stores or online. College students should never buy something right away.
- Cut your living expenses. This budgeting tip sounds obvious, but switch to energy-efficient lightbulbs, use less energy and turn the furnace or air conditioner to a temperature that requires less use. You will notice the difference right away on your utility bills.
There you have it, college students. A few simple changes will really add up to more money in your pocket! Start right away, and you will be on your way to practicing these wise budgeting tips for life!