For some reason, there are many students who are under the false impression that saving money is a waste of time and effort as a college student.
Common responses:
“Isn’t that something you do when you have a ‘real’ job?”
“I’m a student. I don’t have money to save.”
“Savings? What’s that?”
I understand that most college students are tight on cash. Honestly, I feel your pain. Many of us are in the same boat. That is exactly why I am writing this article, because I do understand that it can be challenging but the point is that it can still be done!
With that being said, nowis a critical time to start planning for the future. We are at a unique advantage. As college students, we have the power of time on our sides. (Interest is a valuable asset that should be fully utilized.)
In reality, saving is simply a process of forming financially sound monetary habits. You do not need to be loaded to start building good habits. My point is that the earlier, the better. Trust me. Once you get started, you will never look back. (You are welcome in advance.)
GetRichSlowly is a website that offers sound advice on how to do exactly that – get rich slowly.
It is an excellent resource for us considering that money will not be growing from trees anytime soon. (This is Texas. We are in a drought, but as soon as the rainfall picks up I’m sure the money-trees will share their good graces.)
Here are some practical, relatively painless methods of getting started in the right direction!
Bank It!
Assuming you have a source of income, this might be the most straightforward way to save some cash. Have your bank automatically siphon off a portion of your paycheck to your savings account. Out of sight, out of mind!
Drop bad habits!
This is easy.
Smoke?
Stop.
Drink alcohol?
Stop.
Eat out?
Stop.
Smoke weed? Snort coke?
Stop.
Vape?
Stop.
Why? Because all those “recreational activities” cost money! Money is a huge motivator. Instead of buying that 12-pack, deposit that money in the bank! You will feel healthier and richer.
Here’s a cat video to bring it home!
Keep the change.
Yes, really. Keep the change and deposit it! For some reason many students forget that coins are a form of currency. This means that if you collect enough of them, you can actually get some cash! Stop throwing out your pennies, nickels and dimes. Yes they are a bother, but being broke is more bothersome! Keep the change and feel richer doing it.
