College is expensive. Not only are you paying to actually attend classes and live on campus, but you also have books and supplies to buy. On top of that, you still want to have a social life which means having money for exploring the incredible Bay Area, going out on dates, having adventures with friends, and becoming the foodie you’ve secretly always wanted to be.
Here are some budget-friendly tips to help you get a handle on your finances while building habits that will help you throughout the rest of your life.
Create A Budget
Establishing a budget is essential for your financial future. Make a list of your monthly payments so you know exactly how much you have leftover. Also, plan ahead. Do you have a large purchase or trip coming up? Make sure to set money aside.
Make a list of your purchases
If you’re like me you really enjoy online shopping. This is a dangerous habit to be in. Try and keep a list of the things you purchase so you’re not surprised at the end of the month.
Check Your Bank Account
This may sound like a given but keep track of your money. Check your account weekly. Make sure your auto-payments are going through and check your receipts to be sure you’re charged the correct amount for things.
Make a list of things you NEED
Before shopping, figure out what you actually need so you don’t walk into Target for toothpaste and walk out with five new outfits, some workout gear, and a cart full of snacks. Maybe still get a few of those things, though …
Put Your Money Into Savings
If you don’t have a savings account yet, open one. Take at least 10 percent of what you make and place it into your savings account. The more you save, the more you will have for your future.
Create A Financial Goal
Select a specific amount of money and strive to always have at least that in your bank account in case of an emergency. You never know when you might have car trouble or drop your phone into a puddle.
Take Advantage of Your Student ID
There are lots of places that give student discounts. From restaurants and clothing stores to museums. It doesn’t hurt to ask!
Adulting can be hard, especially when it involves finances. But you can get into habits now that will really help your future self! And hey, you can always get a job! For more information about student jobs on campus check out this great blog!