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If you deeply connect with the term “Broke College Student” then I am sure you are all too familiar with the Ramen noodle nights and looking down on the ground while walking through a parking lot, just in case you happen to come across a 20-dollar bill. Okay, maybe only I do that last one, but hey, there could be a chance that I’m not alone. My point in all this is to say that it seems like we have to go through extremes to save money while in college. Luckily there are some hacks out there that can help you out with saving. Below is a list of 5 hacks that can hopefully save you money while you are living out your college years and maybe even after. It’s always a good idea to practice money saving habits throughout your life.
Start Paying the Old Fashion Way
I know it is very convenient to pay with a debit or credit card. However, research does show if you pay with cash instead of cards, you’ll be less inclined to spend money on unnecessary items. When you can actually see how broke you are becoming by the decline of dollar bills in your wallet, you’ll be wanting to skip your weekly and also sometimes unnecessary Target runs. You’ll also have more appreciation for the items that you buy with cash. Try keeping around $50s or $100s they are usually harder to break. It also makes it easier to avoid those impulse buys.
Store Brands are Your Friends
While at the grocery store, I’m sure you have noticed the off-brand products that are offered as an alternative to the name brands. Usually all grocery stores have their own products that work just as great as their name brand counterparts. Buying store brands will actually save you 25 percent per item. If that doesn’t catch your attention, think of it this way, a family of four could save up to $1,100 per year if they decided to ditch the name brands. So next time you are in the store maybe try considering picking up those “Fruit Spins” instead of the “Fruit Loops.”
Start Conserving Your Gas
Gas is definitely one thing that you can’t avoid buying. If you have a car I’m sure you are all too familiar with the high prices of gas and trying to avoid them isn’t really an option. There are a few ways that you can conserve your gas though you can try the following tips:
Avoid driving during rush hour if possible
Limit the amount of belongings you have in your car
Don’t leave the air conditioning on all the time
Drive at a constant speed
Feel like challenging yourself? Try a no spend day
Once a week if possible, refrain yourself from buying anything. So that means packing your own lunch when you go to school or work. Taking the scenic route if you have the option, if on the way to work or school and you drive buy your favorite store or restaurant take another route if you can. That keeps you from driving by these temptations. The weekends are the best days to practice a no spend day generally we have fewer places to go on the weekends.
Stand up for yourself to yourself and say no
Usually the person that talks us into spending the most is ourselves. Your friends aren’t forcing you to go out with them and spend money so you can’t blame them… but if they are, get new friends pronto. No one is making you go to your favorite store and spend all your money there. When you feel the sudden urge to spend money on something you don’t need, ask yourself, in a week will you regret it? Is it an impulse buy, is it just going to grant you happiness for this moment?
Following these 5 hacks could be a start to having a little more money in your bank account. I know it may take a lot of self-control to go without your favorite but also pricey Starbucks drinks or visiting your favorite store weekly. It is doable though and it will definitely be worth it.
Happy Saving!
