“All the things I could do, if I had a little money” Does this Abba lyric resonate with you? Are you constantly stressed about your bank balance? Well fret no more because the following tips are sure to help any student sustain their cash flow. The best part is, with just a little planning, these habits are super easy to implement into your daily life. Once you see the amazing results, be sure to share this article with your friends!
Rewards programs are a fantastic way to save money. Points and special offers, which can be combined to create discounts, are typically earned according to spending history. Optimize on these great deals by downloading the corresponding apps or bookmarking the websites. This way you will never miss an opportunity to save! Do however, be wary of the common “spending for the sake of points” trap. Only buy products you actually need or would typically be purchasing soon. Being overzealous could result in more money being spent than necessary. Nonetheless, when managed properly, rewards accounts can be, well, very rewarding. Since the majority of chain stores offer something to this degree, try signing up for a complimentary membership at the places you frequent; there is nothing to lose!
If you actually took the time to tabulate your monthly expenses, you would likely notice that you spend a substantial amount on food. For students who are still living with their parents, these purchases are quite unnecessary. While it may be nice to treat yourself to the occasional gourmet drink, daily trips to Starbucks will rapidly deplete your account. The best way to combat these craving is to constantly have healthy snacks and water available for yourself. Options like fruit, crackers, and yogurt are highly recommended as they are not only healthy but transportable as well. Whenever you start to feel hungry and/or thirsty you can swiftly relieve yourself. This way you will be able to easily control your spending habits.
Purchase Multi-Purpose Clothes
Although clothing may not necessarily be your weakness when it comes to saving money, everyone can benefit from purchasing multi-purpose articles. Sure it may be nice for your wardrobe to future a few select pieces that are exclusively for special events, but it is certainly not a cost effective philosophy to model your shopping habits after. Instead, look to purchase items that will suit multiple occasions. Choose a shirt that is both professional and first date worthy. Buy pants that are as comfy as they are versatile. Then, as the seasons change, consider simple ways to modify your look. For example, with a trendy cardigan, most sleeveless tanks become viable options during the winter. Remember that the key to carrying out a flawless ensemble is confidence. Spending an exorbitant amount of money on clothing is not necessary and it is certainly an area where reductions can be made.
Pre-Portion Your Pay Cheque
For those who are serious about saving money, this rather simplistic method is completely full-proof. It’s based upon the idea that you cannot spend money that you don’t have access to. (I urge you to stay away from credit cards if this all that’s preventing you from shopping!) Think seriously about what you feel is an acceptable amount of money to be spending each pay period. Consider the average costs associated with school, food, transportation, clothing, and entertainment. Now subtract this sum from your total earnings. However much remains should be transferred to another account immediately upon receiving your pay cheque; out of sight, out of mind. The key to this approach is to anticipate large upcoming expenditures so that you may adjust your spending accordingly, being sure never to use your savings.
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