Saving Strategies Every College Student Should Follow
You can agree with me that one of the Seven Wonders of the World ought to be seeing a student who can actually save money and still survive on a semester’s budget. Most students have tried to save, have failed and have embraced the idea that it is an impossible thing to do. But the truth is, you can live on nominal funds, stay out of the debt cycle and still be able to save!
On the recap of one of my favorite TV shows, I caught this saying which you may have probably heard before: “you don’t stay rich by spending money”. The essence of saving money is speculative. Rainy days can’t be foretold, even in the literal sense. This explains why it is important to have some squirrel funds in your pouch that you can always reach out to during tight runs. This potentially means that the trip to financial freedom can be kick-started through astute spending. There really is a difference between spending cheap and been frugal and that is based solely on the choices you make. An understanding of how to resourcefully live within your means and not above it is crucial. I have provided a brief list of some of my helpful strategies that you can adapt to enable you to attain financial stability. First off let me let you in on a little secret: “walking or riding a bike is always safer”, you didn’t know that did you?
- Always Have A Plan
Having a fiscal plan of how you want to disburse your credit in a semester is a display of maturity. It is necessary to resume with a scale of preference putting your needs in order of their importance with luxuries at the bottom and savings among the top 5. A brilliant spending plan together with the discipline to abide by it can help achieve financial stability in college.
- Use Brown Paper
The Brown paper concept means take spending paths that require minor capital or recycling capital for reuse. Walking or riding a bike isn’t just cheaper than owning a car but is also safer. If you are going to stay in an apartment, rent it with others, split costs where convenient, don’t buy books that you would require for a short period when the school library has these books. Drink water instead of fizzy drinks, its free and a lot healthier.
- Desist From Binge Spending
Avoid impulse spending. It’s that simple. Don’t give in to unplanned expenses when they can be avoided. Watch your appetite, and at the same, ensure you have a really good, balanced and healthy diet.
- Bills! Bills!! Bills!!!
Ensure bills are paid on time to avoid outstanding expenditures. The pressure with tackling outstanding bills is not healthy and can only be avoided by settling bills in due time.
If you have seen the 2017 romantic thriller “Get the girl”, you should be familiar with the phrase “always be the smartest person in the room”. Being the smartest one in the room involves not putting oneself in situations beyond one’s control. This also goes for spending. Now if I could only take my own advice….WAIT! I’m not a college student so I’m hitting the Mall. Buh Bye!
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