More often than not, college is the first time when a person learns about financial independence and saving money. However, with the burden of attending all classes and getting to work, financial health is sometimes disregarded! Naturally, with a busy life, you fail to take it into account, though this can lead to financial stress later. To avoid failing in life at such a young age, we have listed down all the factors one needs to be aware of and all the planning that should be done in order to succeed in today’s world where the costs increase on a daily basis.
Here are all the tricks and advice you need in order to save money as a college student so that you can live without the stress of missing out on modern life.
1. Use Your Student ID Card
Being a student comes with many perks and benefits but the trick is to know where to look. There are a number of companies and businesses across the country that offer discounts for students. All you have to do is show your student ID card. From retailers like Under Armour to restaurants like Buffalo Wild Wings, you can save a few dollars just by using your student identity card. There are websites like UNiDAYS that help people find gifts and discounts at any store they want. Examples of such companies are Apple and everyday grocery stores like Walmart.
2. Use Tools To Budget Your Spendings
Forming financial habits even before you’re financially independent is something most of us fail to do. These habits of saving money during college can be extremely beneficial and the best way to do so is by either using a cash envelope wallet or a spreadsheet. You can create a budget and make a habit of sticking to it. The budget should include all your wages, expenses, and savings. Doing so will help you efficiently plan for current living costs as well as achieve future goals.
iGrad is a financial literary platform which is free and web-based. It is used at thousands of universities and colleges nationwide as its purpose is to provide loan management resources as well as a lifetime of personalized financial wellness education. By using iGrad, people can also do courses in credit and banking.
3. Free Food
Campus events, such as homecoming and career fairs, are held all year long. During these events, universities always give out free food and goodies. First-year students can visit Panther connects, which will help them keep up with all the events coming up at the campuses and you can see if the events are offering free food or not.
Making ends meet is tough, especially as a college student without a full-time job. But with a few budgeting tips, you’ll learn the art of stretching your budget to the max.