We’ve hit a point in the semester where most of us have spent too much money, and now it’s time to budget ourselves. While it’s tempting to go out with friends every night or splurge on the many shops and stores in Athens, there comes a point where one must have self control. Here are six tips to help budget in college:
Track your spending
It’s easy to lose track of how much you’ve spent over a period of time. Using your phone notes, an app or a physical list is a visual way to see how much you’re spending over a certain amount of time. Mint and Goodbudget are great, free apps to manage your expenses with both being available on the App Store and Google Play.
Give yourself a set amount each month
Overspending is something every college kid can relate to. By setting a limit for yourself, you can allow for more peace of mind that you’re not going over your budget. Keeping conscious of your limit also can keep you from impulse buying on unnecessary items or overdoing it on wants instead of needs.
Prioritize needs over wants
Speaking of impulse buying unnecessary items, figure out what your priorities are. If you have bills and rent to pay, maybe that fifth coffee from Donkey isn’t a necessity. Try to ask yourself if what you’re about to buy is something that will contribute to your everyday well-being or life.
Skip the coffee shops
While it’s tempting to buy a $5 drink from a shop on campus, it can burn a hole in your wallet quickly. Instead, buy a coffee or tea concentrate to keep in your fridge along with a carton of milk, if that’s your jam, and you’ll get more bang for your buck. A 32 oz Starbucks Cold Brew concentrate costs about $7.50, and a 32 oz Tazo Tea concentrate costs about $3.50.
Use those meal swipes
It’s tempting to gloss over the dining halls for meals, but if you’re paying for a meal plan, it wouldn’t be smart financially to not get your share of what you’re already paying for. Swipe into the dining halls for a majority of the time, and treat yourself once and a while to a meal on Court Street. The wait will make it even better.
Don’t buy new textbooks
Ah, the age-old textbooks. Don’t be a rookie and buy your books new when there’s other options. First, search online for free PDFs and websites that could have the readings you need. If that’s a bust, check the Alden Library as they have unlimited loans, semester-length loans and unlimited renewals. When in doubt, you can always rent from amazon or pay a lighter fee from Alibris.
