Stay on track with your finances this semester.
It can feel nearly impossible to stay on a budget when you’re a college student, especially if you’ve never done it before. There’s always something fun going on, or you need to get groceries, your laptop dies, or there’s another textbook to buy…the list goes on.
But there are a few strategies to help keep you from blowing your budget (and all your hard-earned summer work money) during the school year. Check out our tips on how to save your money and budget accordingly for the new semester.
Use Social Media To Your Advantage
Thanks to resources like TikTok, it’s never been easier to find practical and easy-to-understand budgeting advice. There are plenty of awesome influencers out there who are ready to set you up for success.
If you’re looking for somewhere to start, check out Tori Dunlap (@herfirst100k). She quit her corporate job to help fight for others to achieve financial freedom, saving $100K by age 25 in the process.
Plan, Plan, Plan
You likely probably have some big expenses you’re looking forward to (maybe something like spring break 2024?). If you start budgeting for things like that now, it’s going to save you a lot of headaches in the future.
Of course, life can always throw you a curve ball, but you need to treat that money like it’s untouchable. That way, you won’t be tempted to dip into your savings and start using it. Pretend that money is not in your normal budget, and calculate the rest of your spending accordingly.
Remember The Little Splurges
It’s much easier to save for a big expense like a trip—it’s much harder to remember to save for small treats. Weekends are an easy time to blow your budget, especially if you’re going out to dinner and/or drinks with friends.
Remember to put aside a small amount of “fun money” to use at your discretion, whether it’s for weekends out, a mini shopping spree, or whatever else brings you joy. Just remember: once your fun money budget hits zero for the week/month, that’s it.
Wondering how you can save some cash the next time you travel? Check out this flying hack that can seriously pay off.