5 Practical Money-Saving Tips To Stretch Your Dollar Further

Are you one of those who are living on a tight budget and finding it challenging to meet their regular college expenses? Then, we have got you all covered up. Finding intelligent ways to save money is equally as important as finding ways to earn money because a penny saved is a penny made.

All you need to do is know your money and save a penny everywhere possible. After all, becoming aware of your money and where you are spending it will help you even after college.

We have made a list of some of the most effective and practical money-saving methods in college and beyond.

#1 - First and Foremost, Know Your Money and Track Your Expenses

How will you even save your money when you don’t know where your money goes? Start the process by monitoring where the money comes and goes and create a budget accordingly.

Even if it sounds a little boring, it is the first thing you need to do. When you can visualize the ins and outs of your money, it becomes easier to manage everything and make a goal. There are many apps out there to help you track the green bills, but a simple spreadsheet is also a great way to start.

Set the right budget and split it into multiple categories like rent, groceries, bills, outings, etc. This budget will help you know how much money you have, how much you can spend and save out of it, and how much extra you will need.

Depending on the above categories, you can further plan on how and where you can cut off your expenses.

#2 - Get Your Creative Talents Into Action During Weekends

Now that you have created a budget, you can think about earning a little extra here and there. Because, why not?

As a student living at a place that is known for its huge marketplace, you get a lot of options for jobs. Below are some of them:

• ON-CAMPUS

For the first year of your college, you are only allowed to work on-campus. These jobs include working at college canteens, campus gyms, tutors, research assistants, lab assistants, and so on.

• INTERNSHIPS

You can look for internships that pay a stipend, including working as a library assistant, book store assistant, or in the technology department. You can also work as a tour guide operator to show the visitors across the campus.

On websites like Chegg, you can solve homework questions for students and get paid for it. Don’t hesitate to make as much money as you want!

• INFORMAL WORK

Informal work includes babysitting, pet-sitting, or doing some project works. You can also do online freelance work like photography, writing content, and much more.

TIP: Try getting your hands on online freelance jobs as you can do them according to your comfort and time without disturbing your college schedule. Websites like Fiverr and Upwork give you a chunk of job options. Do not forget to check them out!

#3 - Be Selective When It Comes To Buying Stuff

Isn’t it unnecessary to spend your money on buying stuff when you can share or rent them?

Below are few points to help you know about the things you can share or rent to save some extra bills:

• Housing can take up almost half of your budget. Consider living in a shared room, and save up to a great extent. Also, travel in public transport or shared cabs because gas/fuel is quite expensive.

(TIP: Ordering cabs through apps like Uber can help you save a few chunks here and there. Don’t forget to catch their discounts!)

• Cooking food on your own won’t only save you money but will also keep you healthier. It’s a win-win!

(TIP: You and your flatmates can divide the cooking duty and save time as well).

• If you’re finding it difficult or expensive to rent furnished properties, head on to these websites right away: Gumtree Freebies, Freecycle.org.
• Instead of buying textbooks, consider renting them from Amazon. It is an easy and simple process.
• Traveling is quite expensive. When planning to fly off to your during vacations, consider using Skyscanner to compare cheap flight tickets.

(TIP: Consider getting a bus/metro pass if you travel within the city on a daily basis).

#4 - Sell Things You No Longer Need

Why throw away things when you can sell them? You can sell things like your used books, clothes, accessories, furniture, and tech items when you no longer need them. It also helps in reusing the stuff.

Below are some popular online places where you can sell stuff locally:

• Facebook Marketplace 
• Preloved 
• Poshmark

#5 - Feel Free To Ask For Student Discounts

At places/websites where college students are their biggest consumer community, chances are that you may get a student discount. They offer special discounts to keep you coming back. Feel free to ask for it, and you’ll get deals even at the most unexpected places.

If you’re someone who binge-watch online movies/series or love to groove on music, head over to Spotify and Amazon Prime. They have discount packages for the students.

Use your student ID and grab the student discount vouchers everywhere possible!

Wrapping Up!

With these effective and popular money-saving tips, you can save a lot of amount during your college/student years. However, to get the most out of it, stick to proper planning and evaluation.

In addition, try to invest at least some money every month. Investing money at the right place is of utmost importance, even after college. Start as early as you can and reap the benefits!

Saving money can sound tedious, but once you develop these habits, it will help you beyond college too. Hopefully, enforcing these simple saving methods will be beneficial to you. Go ahead and take some fruitful actions to ensure you take charge of your money.