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You don’t have to be in college to find these tips useful. Money is tight these days, so I’m sure anyone could use to save a couple bucks on the daily. So I decided to share a few of my most effective money saving tips that really helped me financially while I was in college. Saving money is a skill that transcends any particular stage in life. Whether you’re a college student, a working professional, or a retiree, everyone can benefit from implementing these money-saving strategies.
With the rising cost of living and economic uncertainties, being mindful of your expenses is more important than ever. By following these tips, you can make a significant impact on your financial well-being. So let’s dive in and explore some of the key strategies that will help you stretch your budget and save money in your daily life. Remember, every dollar saved is a step closer to financial freedom!
Create a Budget That You Will Stick To
I’m sure you’ve heard this one a million times before. But I’m going to say it again now because it is so important. Creating your budget should be the easy part. Sticking to it month to month is the tough part if you ask me. Now, there’s the type of person who cannot function without writing things dow or creating a list/chart of some sort. And then there’s me…
I’ll write things down but seldom go back and look at what I wrote down or follow it to a T. But again, that’s just me and what I found works best for me. I wish I was the type of person who could follow a well formulated budget charting system. I’ve created them plenty of times. Spent hours doing the math and making it look all pretty and organized.
This isn’t to say I don’t have a budgeting system though! Personally, I tend to follow the “envelope method” of saving and allocating money for different expenses I have. Ive been doing this for about 8 years now. Check out my post about the snowball method, and how it’s change the way I manage my personal finances for the better.
The main point here is to figure out a budgeting system that works for YOU. Whether it’s creating a big fancy budget chart, using a cash flow/budgeting app on your phone, or getting a budget book from Amazon and tracking your cash flow that way. It’s important to find a method that resonates with you and aligns with your financial goals. By taking control of your budget, you can effectively manage your expenses, save money, and achieve financial stability. Remember, a well-planned budget is key to achieving your financial goals and living a more comfortable life.
If you’re the type that likes to use a nice chart and write everything out, check out this Simple Budget Template. It’s just as the name implies: very simple and straightforward. Not too many columns or rows to make things unclear and frustrating.
Get a Part-time Job that Offers Free or Discounted Food
THIS.
I made it a point to work at coffee shops all through out my time in college. Purely for the fact that coffee was a necessity to get through most of my classes. Especially once I started nursing hool.Generally when you work at a coffee shop you will get a free drink and/or food item each shift. As well as a discount when you come in to buy something on your days off.
I worked Dunkin Donuts for my last two years of high school and through most of my first associates degree. I moved out of state to begin my nursing degree and decided to give Starbucks a shot instead. Same great coffee perks and the food choices were healthier too, so that was a plus.
Sure, these jobs won’t exactly fill a days worth of meals throughout a whole week, but it really does help. I didn’t keep track, but I’m sure I saved a few hundred dollars by working at a coffee shop during my time in college. Between the money I would have ended up spending on coffee anyway, and the money I would spend on food. Especially on the go.
Maybe coffee isn’t your thing, but you still want o save money while in college. Work at a restaurant that you absolutely love the food at. You’ll probably still get a comped meal every shift and some sort of discount on your days off.
Hate food service? Work at a grocery store. They generally offer employee discounts as well.
Utilize Restaurant Apps that Rack Up Points
My husband thinks I’m ridiculous sometimes, but I love my apps for restaurants that I frequent. Like my Dunkin, Starbucks, Chic-fil-a, Chipotle, and Panera apps. These are all restaurants that are right by my college and work.
Meaning I spend a good amount of time and money there between class or after a 13 hour shift the hospital. I make sure the cashier always scans my barcode or whatever the app has when I make a purchase at one of the place, and before long I have a free Burrito Bowl, iced latte, or grilled chicken sandwich. I do not encourage spending extra money just for the sake of hitting bonuses on these apps. Only spend what you need and let those points rack up.
Pro tip: When you go to any of these places with friends, if they don’t have these apps or rewards accounts with the place your at, ask them if they don’t mind you getting points for their purchase. My friends never mind me doing this, because they know the struggle is real and we all want to save money anyway we can while in college.
Or, if you’re at work and everyone wants to order food from some place you get reward points. Offer to be the one to order the food and get maximum point return.
Save Money with Coupons
I’m no Krazy Coupon Lady, but I do try to use coupons when I can to save a few bucks. Paper coupons have been mostly phased out over the past few years now. With digital couponing being the more convenient, accessible, and environmentally friendly option.
There are a few couponing apps that I love and recommend to all of my friends. Beyond the apps made for specific supermarkets. Such as Publix or Food Lion. These grocery stores are more specific to the area that I live. These apps have digital coupon options that load the discount right onto your account. So when you check out and give the cashier your phone number or whatever identifies your store account, the discount is then applied to your purchase.
As for the other apps that I love to use to save money and whole heartedly recommend to everyone…I definitely rank the Ibotta app at the top of that list. I’ve been using Ibotta for a few years now and have redeemed a few hundred dollars worth of rebates with it.
Another great couponing app is the Coupons.com app. It offers digital coupons for a number of different popular stores. Like Target, Walgreens, and Walmart, just to name a few.
Apply for Financial Aid and Scholarships
This one can be a pain in the butt, but totally worth it when you’re given thousands of dollars to put towards your college tuition, FOR FREE. The hardest, most annoying part is just going online and filling out the form each time a new academic year begins. But so worth it!
FAFSA is based on your income, or your parents’ income if they still support you financially. It also takes academic standing into consideration, as you may be awarded grants as well as need-based financial assistance from the government. Now this is based strictly on my experiences in the United States. I’m too familiar with how something like this might work in other countries.
Whether you’re a college student or not, saving money is already difficult enough! But the more money you’re able to save during your time in college, the better off you’ll be once you graduate and start onto your next adventure.
How do you save money and pinch all of your pennies as a college student? Let me know in the comments!
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