Budgeting in college is hard since you are learning everything that you need to know in order to survive. Sadly, budgeting does not come as a course in college (though I think it should). Here are the tips that I used to keep my spendings low.
1. Get a debit card instead of a credit card.
You can never go over a debit card. Credit cards are a no, no. A lot of people screw up their credit while in college because they don’t know how to handle credit cards. I’ll give you an advice right now. Don’t even think about getting a credit card.
2. Use cash
If you’re really horrible at even managing your debit card, use cash. You will feel the pain every time you take out cash from your wallet and see that you barely have anything anymore.
3. Be cheap
Being cheap is hard to do because you see a lot of temptation by people who have new clothes, computers, and other things all the time. Remember that it’s not about looking good in college. You are not here to look good. You are here to study and get good grades. People who are trying to look good in college are wasting their time. You’ll notice that these people are the ones with average grades. People will look at you more if you make good grades.
4. Get a job
Everybody tries to get a job in college. Getting a job is hard especially if you’re a full-time student. Although this is possible. Try to get a job that isn’t very active. Jobs that suits a typical college student are jobs at the mall. All they do are fold clothes, do the registers and talk to people. This is better than working for fedex.
5. Set up a bank account where you can’t see it’s funds
Do yourself a favor and set up an allotment at your job. This means that you can split up you job pay into two. Have them split your pay into a savings and your checkings. That way, you won’t see the extra money coming into your account. You’ll be contented enough with the money you get, but at the same time, you are actually saving money at the other account since you can’t see it coming in.
Budgeting in college is definitely hard, although people who are strong-willed and are hard-working are able to do this. Ultimately, you want to focus on your grades first. This may mean buying a lot of study tools, but it’s worth it. If you are already making good grades, do yourself a favor and start budgeting.