It’s not easy to be on a budget especially for students. You have to allot money for you food, your projects, books and even for your rent if you are staying in a boarding school. The most beneficial thing to do is to save money and to learn how to budget it. Here are some tips on how students can save money.
1. Impulse buying- impulse shopping is an easy and fast way to hurt your wallet. You won’t even notice that you’re actually buying items that you don’t actually need, you’ll only know about it when your money is all gone and when your credit rating is decreased. Make sure to buy only the things that you need and don’t get carried away with the items you see in stores.
2. Credit cards- credit cards were made to give you the idea that you can just pay later and buy first. This habit can hurt you in the end and you’ll end up with a huge bill at the end of the month. Learn to control the usage of your credit cards and learn when to stop.
3. Bad habits- typical vices such as drinking, smoking or buying some pricey coffee’s everyday will help you save a lot if you cut it out of your lifestyle. List down all of these habits and you’ll realize how much you’re spending for it.
4. Stick to your budget- don’t feel pressure to spend the same way your rich roommate spends. It doesn’t mean that f he or she can afford it, you can too; or else you’ll end up with no money at all. Stick to your budget and know the things that you can afford.
5. Bargains- if shopping really has to be on your list of things to do, it’s okay. But another way for you to save up while shopping is to look for bargains. There is nothing wrong with second hand items as long as they’re in good shape. You’ll get the price of one for two items.
6. Low maintenance clothing- you do not have to spend a lot for the dry cleaning bill all the time. Get clothes that can be easily washed by you.
7. Hand me downs- don’t be ashamed to take hand me downs because some of them are actually just good as new. You’ll be saving more money because you won’t have to buy new items anymore. And if you already have enough money, you may even do the same thing for someone who needs to save up too.
8. Stay at home- yes, it may be fun to go out every night. But you really don’t have to. You’ll be surprised to see how much you can save just by staying at home.
These are just some of the money saving tips for students to follow. Be responsible, start saving and manage your credit score and credit report at an early point to have a secure future.
You are entitled to get your credit report free annually and keep a track on your credit history. Check credit report with 3 credit score regularly throughout the year to keep your score high.
