Saving Hacks For College Students

WE HAVE ALL been there, spending our allowances the day we get them and staring at an empty wallet at lunch the day after. College is a tough time for all students, too young to get a job and too immature to keep one. Only a few bright manage to stand out from the crowd and have an easy time at college.

But if you’re an outgoing personality, who doesn't wish to just follow the lines of the book your greatest limitation is your finances , your desires and needs are limited to what your parents provide as allowances. Asking for more feels like a drag and what you get is never enough.

These hacks are from experience, things I should have done and things that I did which made financing a bit easier:

Manage your allowances

Your parents are not your teller machine. They have already invested enough in you, your education, your logistics and daily necessities. Trust me allowance is a gift and it won’t keep giving. The trick is log your expenses, the basic ones the month before. Find where your money goes and manage your allowances accordingly. 

Get an expenses tracker on your phone

Expense trackers are a life saver. I know it might sound like a tedious act logging in all your expenses as you make them. But it comes in handy and its a good habit to keep as it makes you aware of your spending. It might be difficult at first but give it some time it will become a habit.

Create a savings account

A saving account might seem like an exaggeration but you can create a basic account at 1 rupee. You can deposit your remaining allowance or as they come in every month, this account can be your rainy day fund if needed. We all go through times where we require funds for emergency expenses, for those times this account comes in handy. Your small savings can be your saving grace, at times of need.

Save on books, ask your seniors

You can annually save a significant amount of cash by asking for books from your seniors. If you find it hard to ask for the book permanently, just borrow it from them and give it back to them at the end of the semester. You can also find used text books at local book stores which are in expensive and well get the job done.

Find a job, period

It doesn't have to be big. You can perceive it has a time killer that just adds a bit more money into your account. You can utilize general skills and knowledge that you learned from school to pave the first slab of your career. Look for something online may be content writing, SEO management or take your hobbies professional.