“Manage your spending by creating and sticking to a budget.” – Alexa Von Tobel
Hello everyone. Welcome to another blog post. Today’s post is all about the Benjamins. How to be smart about it most especially college students. It is of no surprise that college students wants to enjoy their glory days. A lot of students find themselves broke trying to stay on top of expenses such as books, organizations, tuition, housing/living arrangements, and of course having fun. A whole lot of things to deal with in college huh? Nonetheless college is the best and most interesting time of our life’s. So whether you are broke or rich on a budget, it is important for every college student to know of ways to become financially smart at a young age. Here is what to do
- Know Your Budget Status: Setting a realistic budget is the best way to see what you can and cannot afford. Your groceries, concert tickets, personal needs etc; all needs planning ahead of time which in return will create discipline and organization. Monitoring your budget plan and sticking to it can be difficult sometimes but getting apps to help you is essential. Try these apps Spendbook, Wally, Mint, Good budget, and Level Money.
- Rent Your Textbooks: Can we all agree that textbooks are EXTREMELY EXPENSIVE? To save money, rent your books so that way you are paying less. Also I’ll suggest you sell your last semester books since some course books are only used once, so you can use that money towards another book.
- Take Advantage Of FAFSA: Most college students are familiar with FAFSA. FAFSA stands for Free Application for Federal Student Aid. There is no shame in depending on FAFSA for financial support. You will be doing a good deed to your pocket. Just use your granted money wisely.
- Determine Your Needs/Wants: Most of our troubles comes from buying things we do not need right now but want. Fortunately for us, most of our phones comes with notes. Create a list that you have close to you and note down things you need from things you want. When you are out, check your list before purchasing an item.This way you can save yourself from unnecessary expenditure.
- Be Cautious With Credit Cards: Do not be fooled by the easy spending access with credit card – you will have to pay back with interest. Then you end up paying more than what you actually spent at the moment. It is important to know the difference between credit building and overextending.
- Chill Out On Eating Out: We all enjoy a good steak. The option of eating out can be extremely tempting, now that we have all these delivery services. No matter where you are your food will be delivered to you and you wouldn’t have to cook. Try eating at least once a month and stock up on grocery items that can last (Eg; cereal, ramen noodles). Get a microwave if you can and google meals you can make in a microwave.Also avoid grocery shopping while you are hungry. You will be surprised of the items you end up with in your dorm.
I do hope these tips is helpful. Lest I forget, acquiring a bus pass with your student ID can save you money too. If there are any tips you know off, do comment below. Also do not forget to share with your friends and family. Check my Instagram Dela. Till we meet again on another blog post, take care.