The economy has seen its better days over the last couple years and many of us have been forced to change the way we spend money. Many people have found themselves unemployed or underemployed and some are even going back to school as a result. Saving money while you are still in school is one way for you to come out on top after college. Unfortunately, our college days don’t last forever and preparing for the future is necessary for the world we live in. And that starts with saving money.
So we put together five easy ways for college students to save money.
Develop A Budget
People hate the B word, but sooner or later you will learn that budgets aren’t really that bad. When you use a budget it doesn’t mean you have to set up a budget that completely restricts your spending. The point of a budget is to help you spend less than what you earn and to know where you are spending your money. There are numerous online tools to help you budget and plenty of cool apps, too.
I know clipping coupons doesn’t seem all that cool, but who cares if it saves you some money. Today, you don’t have to search the Sunday paper for coupons because they are all over the internet. You can find coupons and promotion codes for just about anything, and the savings is well worth it. It might require you to do some planning ahead, but once you see just how much you can save you will get hooked!
Use A Cash Back Credit Card
Contrary to what many people think, credit cards are not evil. With that being said, if you are going to use a credit card you must be responsible. Using a cash back credit card is one easy way to save yourself some money. With a cash back card you earn a percentage back on your purchases. Typically, these cards pay 1% to 5% cash back on the amount you charge to the card. Keep in mind the only way you really save money is by always paying your balance off in full each month and never missing a payment. In other words, to save you have to be responsible. There are many great student credit cards that offer cash back.
Ask for a Discount
Most of us don’t think about asking for a discount, but you would be surprised what happens when you do. I learned this from my mom who always asks for a discount no matter where she goes. I recently applied this tactic with my cable company. I had been seeing various ads from other companies offering a lower price for the same services I was using. I simply called up my cable company and asked them to give me a discount because the other companies were offer lower prices. It worked and I ended up saving money!
Review Your Cell Phone Bill
Having worked in the cell phone industry, I know first hand just how expensive cell phones can be. They can be even more expensive than necessary if you are paying for services you don’t need. I have talked to many customers who discover they are paying for services they don’t even use. This could include things like roadside assistance, phone insurance, premium text message subscriptions and more. Take a good look at your bill and make sure you are using all the services you are paying for. For example, if you have a really old phone, then paying a monthly insurance charge probably isn’t necessary because you could just get a new phone if needed.