How to spend your money wisely in College?
- Arlene Marie Y. Sagum
- Oct 16, 2016
- 2 min read
As a student, money is tight when you're in school. Whether you're a freshman or it's your last year in College. A budget will help make your school year a little less stressful by organizing your expenses and encouraging more efficient money management.
Listed below are some of my strategies on how to keep my financial in good shape:
1. Take control, and be responsible.
You cannot begin your adulthood with bad money habits, and college is an excellent place for you to decide to prioritize your personal economy and be responsible with your money.
2. Create a budget
Always stick to your budget. Consistency is always the key to successfully financial planning. This is essential. You need to determine the amount of money flowing your way from all sources, try downloading a printable budget worksheet, or download a mobile app that will create a budget for you. (My boyfriend introduced me this application "Money Lover" and it really works)
3. Get organized.
Knowing exactly where your money is going will help you evaluate what is necessary spending and what can be eliminated to help you save. Create as many categories as you need based on your lifestyle such as groceries, dining out, clothing, school supplies, gas, and entertainment.
4. Get a job.
Yes, college is a lot of work. You’ve got a full load of courses, term papers to write and lots of studying to do. And of course you also deserve free time to socialize and indulge in extracurricular activities. But the money you can earn from working part time while you are in school can actually supply a great portion, if not all, of your discretionary funds. Besides, there is nothing that compares with the self-esteem you will garner by earning your own money. I work part time as a home- based secretary, It's tiring but the money that I'm getting is really worth it. In addition to that, I get to buy what I love.
Budgeting is a trial and error process. Use a few different methods until you find what works best with your schedule and your needs. But for me, these are the methods that really works.
Comentários