7 Ways to Save Money as a Student
You might feel like your parents or teachers are always nagging you to be smart with your money and save for your future. It can get pretty annoying to hear it from other people- but let me tell you- it DOES pay off in the long run. Just hear me out on some simple tips for your spending habits that can ease the transition when you graduate into the “real world”. Promise not to nag!
1) Only use cash for fun- Give yourself a set amount to take out with you on the weekends, it can help with overspending on your credit/debit cards.
2) Put your spare change away- Use an app like Albert, Mint or Acorns. These apps do it automatically for you at a set time frame of your choice. You can set your goals for the end of the week or month. Not into apps? Just simply start a piggy bank!
3) Use your ISIC - Buy things like holiday gifts, flights, clothes and everyday things like movie tickets all with discounts.
4) Don’t overbuy at the grocery store- Don’t go shopping when you’re hungry! Or try a meal delivery plan like Hungry Root
5) Get rid of things you don’t use often- Consider all your monthly subscriptions you don’t use like Hulu, Netflix, paid gym memberships etc. You may have all the “nice to haves” that you really are only using a couple times a month and this adds up! Things that may only be $7/month is almost $100 a year!! Drop 3 of these apps and you’d have an extra $250-$300 in your savings.
6) Use public transport more often than ride sharing- Sometimes you have to grab an Uber or Lyft if you’re late or it’s too cold to walk, but when you’re feeling too lazy to buy a bus or train ticket- don’t. Public transport is generally 2-3x cheaper than grabbing a ride.
7) Limit how many times you go out to eat each month- This doesn’t mean limit your social life. Grab your friends and have a pot luck style dinner at your apartment, or plan a special night out only once a month and make it an occasion you look forward to with some friends.
Thinking about saving money can feel like torture... it's like the fun police are limiting your life, but having an extra cushion of cash can really help when you’re strapped; when you want to get an apartment, but don’t have money for all the upfront fees, or you want to go on spring break with your sorority sisters, or you need to afford books for next semester! Try making a couple small changes next month and you could have a few hundos adding up in your bank account.Back to overview