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10 most important money saving tips for college students

Introduction

College phase is such a phase where the students dream of their bright future and come with a hope to build their academic career. These students are teenagers who want to fly high in the sky and touch their dreams.

In this stage they want to undergo certain adventurous experiences and prefer exciting lifestyles. But they fail to understand the value of money and do not take care at all when spending them. They were not properly trained about the planning and budgeting policies and systems as a result they spend a huge amount of money uselessly. They usually engrossed themselves in shopping, doing parties, eating fast foods and spending a huge amount of money in updating the mobile and internet bills.

They don’t know where to stop and keep on spending their pocket money on unnecessary things. College life is that phase where these young adolescents develop new relationships and in order to maintain that they keep on spending their money on their boyfriend or girlfriend.

Therefore, their spending should be controlled and proper remedies in this regard should be initiated by their parents to bring their children back on the right track.

Below we will be discussing the various ways to handle the money and save it for future perspectives. 

Simple Tips to Save Money For the College Goers 

  1. First and the foremost thing that a college student should keep in mind is that they should control their spending habits. They usually have a habit of spending money unnecessarily. Therefore in order to save money these students should realize the difference between ‘the need’ and ‘the want’. After identifying the needs they should spend only those things which they require the most. For example, textbooks are much more important than purchasing the story books. It is a fact that a new college joiner often develops a habit to read different kinds of interesting story books which often gives them pleasure. But they should understand which one is more important while tackling the concept called “money”. They should first go with the option of purchasing the textbook as it is more important for their exam than the story books. The concept of ‘want’ comes when they get something in reward or are being awarded money to purchase anything they like.  In those situations they can purchase story books or other fruitful things which can satisfy their constructive mind. “Recently got scholarship for performing well in my exams and with those money I purchase my textbooks and one story book” says Priya who is training at TrueBlueFisherMen
  2. Try to value the money and avoid spending money unnecessarily on parties or baseless things. Parties usually ruin the life and career of these teenagers. Parties often influence these students to focus more and more on fun which distract them from studies. They forcefully insist their parents give them money to party with their friends by avoiding their studies. Parents should remain strict in this matter and should not let their child go to parties most often. In this case they can stop providing their child pocket money. 
  3. In order to save money avoid canteen meals and carry homemade tiffin’s. The canteen meals demand a high charge and also provide unhealthy and unhygienic foods. Therefore, they should carry nutritional and healthy homemade food items to stay healthy and energetic. “Recently ordered a chicken cutlet and a cold drinks from the college canteen and it charged so much that from the next day I started carrying food from home” says Tanima who is an expert in RazorHood
  4. The students should stop spending money on liquors, marijuana or cigarettes. This is a phase where they develop this bad addiction towards substance abuse. They get involved with some of the cheap and disloyal friends who influence them to adopt such habits. Guidance and counselling of the teacher and parents towards their child in this regard is highly needed. 
  5. The students should learn to create a proper budget and planning. Before spending money on something they should first make a rough budget and then proceed as per their budget permits. “Through budget you will be able to track your spending and gauge what you truly can or cannot afford” says Meera who is promoting the theme MyPlumbersChoice 
  6. Try to save the transport expenses and if possible try to ride a cycle or walk and come to college. This will on the one hand save their money and on the other hand maintain their health and keep them energetic. Walking is treated as the best exercise one can ever do. They should try it. 
  7. Try to take advantage of the student discounts. It will help a student to save the extra money. Therefore, after getting admission try to update yourself with the information about it and always carry your college ID and documents. 
  8. Try to earn extra money by doing freelancing jobs or some tuition. This can enhance your creative talents and enrich your learning outcomes. The more you will practice the more you can strengthen your knowledge. “While doing my degree courses in college simultaneously I was working as a freelancer which provided me a scope to earn money and enrich my knowledge” says Rita who is an expert in Tangolearn
  9. Try to avoid the expensive outings with friends and focus more on studies. This will help to save your money as well as maintain your studies. 
  10.  Shopping is yet another zone where these teenagers spend their money the most. They should understand the value of money and should learn that earning money needs a lot of struggle. They should listen to the experiences of their parents’ struggling life and educate themselves on how to save money for future perspectives. 

Inference

In this expensive world it is hard for college students to save money. But they should understand the value of money and should check their spending habits.

The above money saving tips might help these students to save money for the betterment of their future.

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