Entering college can be a crazy time… especially for your bank account. Balancing your classes, clubs, volunteering, social life and more can feel impossible. While you suffer, so do your bank statements. As I progress through my college career, here are some financial rules I continue to live by to keep me sane.
Starbucks Everyday Is For the Top 1%
It can be easy to buy a coffee espresso in the morning before class. You’re exhausted. Maybe you were up all night studying, or you just finished an opening shift before class. While these are valid reasons for wanting coffee, my personal rule is that those sugary waters add up. When you’re down bad and broke maybe you’ll rethink that double espresso frappuccino every day between your 2nd and 3rd class.
Do not doordash at night
Nothing pains the soul more than opening your bank app after a late night snack. Try prepping your meals and snacks ahead of time. This way you will keep yourself on budget. Doordashing can become an impulsive habit. Before you know it you can be spending your grocery budget for the month in a week on takeout. It can be frustrating to cook but you end up saving way more money in the long term. Create a meal schedule to anticipate your food needs. Do not let that late night snacking keep you from saving money.
Refrain from Buying Paper
Not only is limiting your paper purchases environmentally friendly, but it is also saving you money. I used to waste so much money buying stacks of paper every semester while letting my empty notebooks collect dust. After my freshman fall semester, I decided to start storing all my paper and notebook supplies together, and vowed not to buy any more until I used up all my older supplies. I found myself saving a lot more money and being mindful while taking notes. I was not running to the bookstore before my classes anymore when I started needing paper.
Plan Your expenses ahead of time.
Every semester college students find themselves shocked by all the money they end up spending since August. Start logging your club dues, expected textbook fees and so on. Start to calculate how many coffees you buy a week and start goal-setting. Buy your own coffee machine to save money. Locate the areas in your life where you could improve the most. For some of us it’s coffee, and for others it could be Chick-Fil-A after class. Simply being aware of your purchases will help you learn to control them.
Paying bills ahead of time can be a life saver. When I moved into my apartment I had a good bit of rent money saved up. However, it can be tempting to dip into your savings from time to time. I was able to pay my rent ahead of time if I chose to, and as soon as I could I put away a couple of months’ rent to keep myself ahead. Unfortunately, not all of us possess the self control to keep ourselves from overspending. By simply removing this temptation I was able to stop myself from spending as much as I would have.
Stop buying plastic water bottles
When heading out for class in the morning you can easily forget to pack a water bottle. The number of times I’ve been punching the air wishing I brought one and instead had to pay almost three dollars for a bottle of water is devastating. It is a truly stupid purchase so many of us make weekly. I can almost guarantee seeing people lining up at the vending machine beside the entrance to the gym every time I go. Most of us are not properly hydrating ourselves in the first place and are continuing to waste money. Do yourself a favor and keep a reusable bottle in your bag.
To control your spending habits it can help to focus on one bad habit at a time. We can catch ourselves in a cycle of spending money if we indulge too much. I truly believe it is all about balance. Be aware of where your money is going and how much is coming in. Keep reminding yourself if you really need to make this purchase. Think before you spend!