This article is written by a student writer from the Her Campus at Grinnell chapter.
As young people everywhere receive their tax returns this spring, cash is burning a hole in their pockets (much to the chagrin of their parents). While college students readily embrace many of the trappings of adulthood, assuming financial responsibility is the elephant at the grown-up dinner table that many of us would prefer to conveniently ignore.Â
Sound familiar? Whether you just got cut off from your parent’s credit card, spend all of what would be opportune nap time at a work-study job, or are funding your own education, nearly all college students have one thing in common: We’re looking to save some money. Yet admitting to being on a budget can often seem like a social taboo, especially at a private college where many students don’t have to worry about paying tuition and rent and some have seemingly unlimited access to parental funds. But no matter your financial situation, spending and saving responsibly should be a source of pride, not shame. If you set your priorities straight, you can never have to worry about overdrafting your credit card online shopping again form lasting successful financial habits and make the most of your college experience without breaking the bank.
Where to Save:
-  Jewelry: As much as you may love that $130.00 J.Crew statement necklace, you will most likely not get your money’s worth out of it in terms of outfits you can put together. Buy the knockoff from LuLu’s (lulus.com) at a third of the price and get essentially the same look without running the risk of losing yet another investment piece to wherever it is that jewelry mysteriously yet unfailingly ends up disappearing to. How many single earrings have been lost
in the room of a gentleman callerafter a night of one-too-many Malibu and pineapples? How about in the bottom of a gym bag? Or down the sink drain? The list goes on.  Regardless, fake pearl studs look just as great as real ones, and the same goes for cubic zirconia. Unless you’re dealing with Anna Wintour, nobody will be able to tell the difference.
- The Pre-Game:  If you’re not pre-gaming, you’re doing it wrong. The ever-important pre-game will save you money on drinks at the bar and guarantee that a tapped keg (and/or jungle juice mysteriously spiked with protein powder) at a house party will never ruin your night. Buy the bottom-shelf stuff and mask it with the cheapest mixer-of-choice available before you go out. You won’t even notice that you’re drinking Hawkeye after your first three shots are doused in raspberry lemonade. Furthermore, college is a magical period in which you are expected to know squat about wine. Take advantage and chug the cheap stuff: Barefoot, Yellowtail, Franzia, et cetera. Having to cut down on wine and whine nights would be tragic, so budget accordingly.
- Music: Why anyone still pays for music baffles me. There are so many free online music providers with already-crafted playlists or do-it-yourself options for the less musically inclined. More obvious choices include Pandora and Spotify, but be sure to explore other options such as Songza, FratMusic, and Soundcloud, to name a few favorites. There are plenty of sites and apps that are commercial free, too. Download Smutefy on your Mac to avoid Spotify ads. Nobody wants to hear an extremely loud Lowe’s commercial in the middle of your Saturday night house party playlist.
Where to Spend:
- Dining Out: While this seems like a classic budget “don’t,” nothing is more therapeutic than escaping campus to have a lunch out with the girls. Those Sunday brunches when you can’t stand to see last night’s make out partner at the dining hall salad bar are better served elsewhere. As long as you only budget for a meal or two a week and stick to low- to mid-price range eateries, your sanity will thank you. If this still seems out of your tight budget try only drinking water, ordering an appetizer as your entrée, or splitting a dish with another accountable, penny-pinching friend.
- Bras: This one cannot be stressed enough. A high-quality bra that is correctly fitted can make you look five pounds thinner and a cup size perkier. It’s commonly stated that 80% of women wear the wrong bra size. If you’ve ever experienced back rolls, boob overflow, red grooves on your shoulders, broken underwire, or sagging, then you should definitely rethink your bra purchases. Get yourself measured for free at the nearest Victoria’s Secret or do it yourself with the guidance of a quick web search. Then, bite the bullet and try every bra in the department store and don’t settle: you’ll think yourself later. Start by investing in classic pieces like a nude strapless, a racerback, and your favorites in neutral colors. Make sure to take good care of them and they will repay you tenfold; it will be the easiest relationship you’ve ever had.
- Travel: As the cliché goes: Travel is the only thing you can buy that makes you richer. Take advantage of study abroad programs, spring break trips, concerts and weekend visits to other campuses; these are transformative experiences and will create memories that last for years, if not a lifetime. Save up your money, ask mom and dad, take out a loan to go overseas, share gas amongst the group, or hop on a Megabus. You will not regret it. Make sure to document for those not as lucky, and try to make it back in time for class.
Extra Tips:
- Do your budget homework: For someone who has never been in charge of their personal finances before, this can admittedly be a daunting task. For others, an Excel spreadsheet is second nature. Nonetheless, you need to have at least a faint idea of where you want your hard-earned, or Daddy-given, money to go. For the newcomers and Excel-skittish, my personal favorite budget aid is the Mint.com iPhone app. Mint.com can be synchronized to your bank account and will send you weekly email notifications of your spending. After all, nothing is more embarrassing than an email from Mint.com with the subject line, “Exceeded Budget for Clothing this week.”
- Cut coupons: I realize that nobody wants to become a soccer mom at the age of twenty, but the payoff is great with minimal effort on this tip. Pick up a local newspaper with your Sunday morning hangover coffee. Bonus points if you actually read the paper in your morning-after, vodka-induced haze; maybe save it for later. There’s no need to go all-out Extreme Couponing here, but take an extra couple minutes to clip a few coupons from the sales flyers for products that you use. For urban areas, look for deals on Groupon and LivingSocial, which are especially great for hair salons. Also, keep your eyes peeled for other not-so-obvious discounts like punch cards at your local coffeehouse or clothing boutique, and always ask about a student discount!
- Cash Only: This is especially helpful when spending a Friday, Saturday, Wednesday, and/or Thursday night (no judgment here) at the local watering hole. Only bring as much cash as you would like to spend on drinks and snacks that night and leave your plastic at home. This way you won’t fall into the trap of buying the entire bar a round of tequila shots because you remembered the debit card conveniently hidden in your wristlet (guilty).
- Subscribe: While some stores can go overboard and completely clog your inbox, this tip is especially helpful if you frequently shop online. Selectively sign up for your favorite stores and the inbox overload will certainly be worth it. Be on the lookout for deals like free shipping and flash sales that are often only offered to email subscribers.
Â