Before my freshman year of college, my parents mandated that I put at least $3,000 into my savings account so I would have enough money to get me through the year. By the end of my freshman year, I had spent all but $600. To this day, I still haven't been able to save that much money, and I regret my frivolous spending habits. Let my mistakes be your warning, and check out these tips to help you not go broke in college.
1. Stop eating out.
Yeah, it's easy to get a group of people together to go to Taco Bell, but it's almost easier and often more fun to have Dylan bring tomatoes, Emma bring lettuce, Noelle bring tortillas, Taylor bring sour cream, Lea bring hamburger, and Andrew bring cheese, and I'll cook tacos in my apartment. Way more fun, way less money out of each person's pocket. "But it's cheap!" you say. Sure, it's cheap. But when you order a $7 pizza four nights a week, that money adds up. Don't believe me? Do one of these two things: A. when you get your monthly bank statement, highlight all your food charges. I'll wait. Or B. Stop eating out for a month and see what that does for your account. Sometimes it sucks, but it'll save you so much money.
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2. Utilize student discounts.
Lots of places offer student discounts, from nail salons to stores to ice cream shops. Amazon offers 6 months of Amazon Prime for free when you provide a .edu email address. Spotify has a student rate for Spotify Premium. Utilize these offers!
3. Rent your textbooks.
Websites like Chegg, Amazon, and Thriftbooks have all the textbooks you need, and at a fraction of the cost of the bookstore. The more money you can save, the better! Especially if you're only using them for four months.
4. Learn to love window shopping.
My friends and I love to run off to Target when we need to get off campus. My problem is that I spend approximately $2 a minute that I'm there, and sometimes more. Yeah, clearance yoga pants sound amazing, but you don't need 17 pairs of them. If you're like me, sometimes the best thing you can do is just leave your wallet in your apartment when you go just so you're not tempted.
5. If you drink, buy cheap alcohol.
I know cheap alcohol is horrible, but you'd be surprised what Pinterest can offer in the way of recipes for cheap mixed drinks.
6. Buy a coffee maker.
The cheap ones work just fine, and run about $15, or you could splurge a little bit and get a Keurig. Even though some models can be expensive, it's so much cheaper to make coffee in your dorm or apartment than it is to buy Starbucks every day. You'll have to get up about 10-15 minutes earlier, but it's worth it to save that dough.
7. If you have a job, funnel money into savings.
I didn't work my freshman year of college, and that hurt my wallet a lot. Now that I'm working, I try to put at least 10 percent of each paycheck into savings as soon as the check clears. Sometimes I try to outdo what I put into savings the week before, just to see what I can save. One of my friends puts all but $50 into savings each pay period. Try a Pinterest savings challenge. You'll be thankful to have that cushion there if you drop your phone and need to have your shattered screen replaced.
You don't have to stop having fun to stop spending money. Go out with your friends, and you can of course splurge a little from time to time. College is stressful enough without worrying about money too, and learning to manage your money now will only help you later in life.
