Apart from paying off your student debts, you’ll need extra cash while you are in school. Usually, college students are on a tight budget. So, it is a great idea to learn how to budget correctly, so you do not end up in short or debt at the end of every month.
Following are some tips you can consider:
- Go for used textbooks
In case you didn’t know yet, books are a big of expenses in college. The majority of school bookstores have used areas where your books can cost at a fraction of the brand new. Several online retailers also provide used books for purchase – and some of them even offer book rentals for even less.
- Avoid going out to dinner
Fast food is quick, but the cost adds up and can take up a large part of your budget. Grocery shop and make your own food to save in comparison. Pay attention to sales and use coupons when you can. If you live on campus, the on-site cafeteria may be more affordable than eating out. Of course, if you have a meal plan then take complete advantage of it and avoid order out or going out to eat.
Another option, if you go to school close to home, then make a weekly trip home to eat a good meal (and don’t forget to save the leftovers).
- Take note of expenses
Jot down all the bills you have and the money you spend every week and every month on things like college-related expenses, clothes, food, and hanging out. If you can see everything in front of you, it’s makes it easier to create a budget and learn where you may be overspending.
- Stay away from credit cards
Many credit card firms target college students. Credit cards are beneficial for significant emergencies, but they could be tempting to overuse as well. Credit cards are an easy way to fall into additional and unnecessary debt.