This is the first time for most of the students to stay away from home and experience college life. You would be getting a fixed amount of pocket money from your home to spend money on your necessities and luxuries. In such a materialistic college life, how could someone save money? You can achieve financial success by getting aware of ways of saving money. This is the first time you guys are thinking of managing your money. We have some tips and tricks which can help you save money in college life and they are as following:
1. First and the foremost thing you need to do is to open a savings account.
2. Look for a PG or a college hostel, whichever is cheaper and provides more facilities. Cheaper doesn’t mean that you have to compromise your safety.
3. You can save a lot of money on food. Many PGs and hostels provide you food.
4. Don’t ask your parents to buy you a motorcycle or a car as it will eat a lot of your money. Opt for public transport instead. If you travel on a bus, make a bus pass which is cheap and best or if you travel to the metro then buy the metro card which is cheaper than the tokens.
5. Don’t buy textbooks as most of the books required for your course are available in the college library. Subscribe to them from your college and study.
6. For fun activities, instead of buying movie tickets and event passes, look for movie nights in hostel or college and attend every fest that happens in your college. I bet you, nothing can be better than that!
7. Nowadays, every college has a WiFi and PG or hostels also have WiFI, then why to recharge your phone for the internet. Surf on the free WiFis. Now, WiFis are even available in public places.
8. Uninstall all the e-commerce apps from your phone as they attract you to buy new things by giving heavy discounts.
9. Apply for the closure of your credit card as the credit card always pushes you to buy something which is of your limit.
10. Study seriously and don’t fail. Failing in one exam costs you some fees as you re-apply for it.
11. You get a lot of free time during your college life. Get it into use, work part-time or freelance, and start earning some money.
12. Show your college ID card and get discounts on laptops and software.
13. If you want to photocopy notes, don’t hunt for a printing shop in the market, look for the one in the campus as it is comparatively cheaper.
14. Learn how to cook and you can save a lot of money.
15. Buy groceries in bulk or online as you get amazing offers on bulk buying.
16. Leave your bad habits of drinking and smoking as they consume a lot of your savings.
17. If you want to visit a restaurant or a cafe, look for deals online and book a table prior to reaching it.
18. Don’t keep a lot of money in your wallet as if you have money in your wallet, you will crave to spend it.
19. Pay your electricity bills and water bills on time to save yourself from the penalty of late bills.
20. Set a weekly saving goal and save that much amount on your savings account first.
We know that saving money in college life is not easy but we also know that it is not that difficult. If we are committed and disciplined, we can achieve our goal easily and can save a whole lot of money.