Frugal Tips For Every College Student To Follow
We all know the jokes about being a student and it meaning that you live like a slob and eat beans out of the can. But being a frugal student doesn’t mean that you have to sacrifice everything. You can still eat out from time to time or go to the movies. The difference is, you will have budgeted to do so. Some discipline means you can enjoy things like that without going broke. So if you’re at college or will be starting soon, here are some ways to help you budget your money. There is no need to graduate with more debt than you were planning on.
By being a frugal student, it means taking on responsibility. It is owning up to your finances and holding your hand ups. It is showing that the financial situation is no one else’s fault. It is about budgeting and solving things in your life logically, rather than emotionally. It can be a hard skill to learn. But it is a vital one if you want to have a good financial situation.
Learn the Value of Money
I know this sounds like something your parents will have told you. But learning the value of money is so important, especially as a student. If you learn the value of money, it means that you will take the time to shop around for the best deal. Or you’ll skip that meal out because you know it would take you a couple of hours to earn the money back. It is about choosing the option that meets your needs, rather than a more expensive one that isn’t essential.
Set a Budget
Setting a budget is a great way to stay on track of your finances and even come out of college debt-free or with savings. So it is a must. You can still use things like credit cards, much like the ones at studentcredit.cards. The only difference is that you know how much you can spend on there as you can pay it off at the end of the month, rather than using it because you don’t have any money at all. Decide what you’ll spend on food, housing, and leisure. Work out your outgoings and your income, and then budget accordingly.
Curb Your Consumerism
If you like to shop, then you need to change your mentality to realize that you can still enjoy shopping when living frugally. You will just change what you are actually shopping for. For instance, with the holidays coming up, you can shop for more frugal gifts, like mason jars that you can make homemade gifts with. Rather than spending lots of money on generic gifts from a store. The same goes for things like clothing; can you get a cheaper deal in another store or even in a thrift store or a site like ebay.com? When you shop around and put your focus on needs rather than wants, it will change how you spend money and how you see everything.
Have you got any tips from your time in college? It would be great to hear what you think.