Being a student teaches you many things. It teaches you how to live on your own, how to take responsibility (or not), how to get through midterms without sleep (not so well), how to appreciate cheap student beer and finally, how to deal with finances. It doesn’t sound like a big thing, keeping track of your money, but when you have a limited amount to spend, you want to make sure you spend it wisely – and not buy that beautiful, super expensive, skirt you spotted yesterday.
Saving money is a big part of student finances, which is why Almost Famous Writer has lined up 3 tips to save some money.
// Keep track of your expenses
Perhaps my most important tip, is to keep a notebook with your expenses. Write down how much you have spend and what you spent it on. This will provide you with a nice overview and you’ll see on what kind of expenses you can easily save money (instead of going to the coffee shop to get your caffeine boost, bring your own coffee?) and on what kind of expenses you’re spending too little (a healthier lifestyle perhaps?).
// Bring your own stuff
Tying into the first tip, from my little finances notebook I noticed that maybe I was spending to much money on getting expensive coffee and cookies during my class breaks. To save money, I figured that I can bring my own drinks to class, and that I can buy cookies or cereal bars at the supermarket for much cheaper, and just bring those to school. The same goes for lunch; instead of going out every time, just bring your own. You can make it just as delicious as the shop and it’s much cheaper – so why not?
// Stick to your budget
This tip requires some discipline, as I always find it hard to stick to. One of the most obvious ways of saving money, is to create a budget. At the beginning of the month, determine how much money you have to spend and divide it into different expense areas: groceries, clothing, school supplies, fun stuff, etc. This way, you have different mini-budgets for all the different things you spend money on in a month. The tricky part, however, is to stick to the budget. My advice would be to keep track of your budget in a finance notebook and when you’ve used everything within the budget, try and be disciplined.