College Student On a Budget

Teen removing money from wallet

I have to say that the years I spent away at college can be some of the best days in my life. But they can be the most stressful too especially when it comes to finances. Juggling classes, studying and making home work seems like a full time job – plus socializing! No wonder figuring a way to squeeze all of the expenses out of such a limited budget can be a truly hair pulling experience. If you are a college student on a budget, here are some the things you need to remember. These tips can definitely help every college student on a budget to save a lot of money.

Create a plan and make a budget. Keep a record of all your expenses to ensure that you do not spend on unnecessary things. See to it that you don’t spend more than what you save.

Save money on food. Imagine how much money you spend on food and snacks. Think how much money you can save from not buying a bag of chips and soda out of a vending machine compared to the cheap ones from the grocery store.

College experience is not complete without going out with friends. I am sure you don’t want to miss out the fun just because your budget is tight. You and your friends can go to local hotspots that offer food and drink specials with live entertainments.

In being a college student on a budget, you must refrain using credit cards. Credit card is the main culprit in increasing debt. Why? It is easy to use and convenient. However, once you receive the bank statement, you feel like falling into a debt trap. If you don’t like carrying money, then use your debit card. This way, you can reduce your expenses.

Work from home. If you don’t have a class you can actually work online to increase your income and to appreciate your hard earned money. Not only that, you get to pay your own bills.