Saving cash is easier to college undergraduates compared to the working class persons. This is so because a college undergraduate receives financial aid from their parents or guardians and stands a high chance of saving cash in lumps. However, this may be difficult to college undergraduates who have a problem in managing their finance. This may be caused by change in environment since there are many activities that happen in college. Below are some of the ways you can use to save cash while in college.
1. No credit cards
However much the credit card offers convenience, the “buy now, pay later”, this will make you spend more money than you should. If you feel you are in a position to handle one, it is better, you seek an alternative like have a debit card instead. This will help you save lumps of cash and spend less.
It is normal for you to bargain when you go out shopping. This will help you avoid situation like you being over exploited when buying things. You should therefore not take the sellers price as final if you feel you can get the same product somewhere else at a cheaper price. For instance, used books can easily be bargained hence saving good amount of money.
3. Stop the bad habits
It is understandable that everyone has one or two bad habits. However, if you have a bad habit of heavy drinking or insane partying, you should cut out such habits if you are determined to save some cash. This may be difficult due to peer pressure and lack of focus to saving cash.
4. Spare the dry cleaning for the future
Burdening yourself with drying cleaning bill while still in college is not worth it. It is much better for you to buy clothes that you can wash easily. This will help you in avoiding extra expenses such as dry cleaning bills that may be costly depending on the type of cloth.
5. Be keen when buying a car
However, maintaining a car may be slightly expensive, there are ways of ensuring you use less cash on them. When purchasing a used car, you should look for a car with good gas mileage and with good physical condition to avoid the unplanned expenses. This will help you save huge amount of money that you would spend in case you went for a brand new car.
6. Set saving goals
When it comes to goal setting, you should be honest with yourself. Since you know how much you earn or given on monthly basis, you should decide on what amount to set aside on monthly basis. Setting your goals and sticking to them will help you in reaping the benefits of saving.
7. Borrow movies
Many college undergraduates spend a lot of money in buying movies and entertainment. You can avoid this by borrowing your colleague’s movies that is cheaper than buying.
All in all, there are many ways of saving cash in college. Considering hand-me-down apparels, staying home and making your cash grow are other methods of saving cash. If you intend to save cash while still in college, the mentioned tips will help you reap the benefits of saving cash while still in college.