Are you often caught up in a situation wherein you’re short of money and you have all of these assignments and projects to complete? Well, as a student, you don’t have all of the money in the world, unless your parents are super rich and that you can just ask for money if you need to. Reality check, you’re not.
So, here are some of the best money tips that every student should do:
1. Pre-plan your spending – you should map out your classes for the whole year, map your road trips, outfits and all that. In order for you to successfully arrive at the end, you need to have a plan to get there from the very start. You should know how much money you have, what’s needed, what’s not, etc.
2. Sell your old stuff – you need to let go of something if you want that one thing. If you have unused or pre-loved items, you can just sell it to your clients who have the same interests as you. There are also auction sites where you can do this easily.
3. Pay your phone bills on time – many young people often apply for a wireless service through a credit card. Thus, you should be punctual in paying off your bills if you want to have a good credit score. This will surely increase the possibility of getting car loans and mortgages.
4. Student discount is worth it – whether you’re going out to a movie, dinner, or that you need to purchase a computer, or you have to travel, you can just flash out your student card in order for you to get a discount. You must never be afraid to ask, places with formal policies or unadvertised discounts will surely give you a student discount.
5. Get an advanced credit – usually, the post-secondary school is the first exposure that many students have to credit. You should start educating yourself regarding consumer credit, together with interest rates, credit scores and payment periods and make sure that you will only establish a good habit that you can carry for the rest of your life. Pay your bills on time and pay it in cash as much as you can.
6. Share – In case you’re driving home over the holidays, you can offer one of your classmates a good ride in exchange of a half of the gas money.
7. Consider “used” materials – you don’t have to splurge your money on your school textbooks. There would always be a place where you can buy used ones and use them to your advantage without spending more. If you need a car, simply start by getting a used one.
8. Think more about the environment – whenever it’s cold, you can wear more layers instead of turning the thermostat on. Whenever it’s possible, you can use the compact fluorescent light bulbs to light up your room.
9. Avoid impulse buys – in case your eyes are set to something new, it would be best to put them on your cell phone and put them on your planner to see if it’s what you really need or not.
10. Stay in – for now, consider staying within your dorm, apartment or house during weeknights, as it could only cause you to spend more money than you should.
If you would like to save more money while you’re still a student, it would be best to take those tips mentioned above.