Sm Student Money Saving Tips

Sm Student Money Saving Tips

Essential Money Saving Tips for Students
It is​ easy to​ get caught in​ the​ rush of​ things when you are in​ college .​
In the​ midst of​ studying,​ part-time jobs,​ socializing and extracurricular activities that you have,​ you are most likely to​ forget one of​ the​ most important things,​ which is​ straightening out your finances .​
Here are some tips on​ how you can save money as​ a​ student:
1 .​
Plan ahead .​
If possible,​ do this even before you move into your dorm room .​
Check if​ you are eligible for scholarships and other grants before signing up for any form of​ student loan .​
Construct a​ cash flow .​
First,​ where do you expect to​ get money from? Make a​ list of​ your income,​ be it​ from your parents,​ your student loan or​ your part-time job .​
Then forecast your expected monthly or​ weekly expenses for food,​ books,​ etc .​
Once you have set aside a​ budget,​ be strict with yourself and stick to​ it .​
You will never know what unexpected expenses would come your way so it​ is​ better to​ have a​ downfall for financial emergencies .​
2 .​
Save on​ food .​
One of​ the​ major expenses that you have as​ a​ student which you might have ignored when you were still living with your parents is​ your food allowance .​
Avoid eating at​ fast food outlets,​ as​ this is​ most likely to​ ruin your budget .​
Pack your lunch and plan your meals as​ much as​ you can .​

3 .​
Take full advantage of​ student discounts .​
Those ID’s in​ your wallet are not just for show .​
Student ID’s and memberships in​ organizations are honored in​ several establishments which offer discounts .​
Also,​ patronize a​ certain establishment regularly and you are bound to​ get bonus cards for being a​ loyal customer .​
4 .​
Use your cash as​ much as​ you can .​
Since you already have a​ draft of​ the​ items where you will spend your money,​ it​ is​ easier to​ monitor your cash flow .​
Avoid using your debit card when you have cash with you .​
Use your credit cards or​ write checks only in​ emergencies .​
Having debit cards,​ credit cards and checks handy might lead you to​ overspend .​
5 .​
Keep yourself busy .​
Join clubs according to​ your field of​ interest .​
Keeping busy will let your mind wander and help you stay away from things that you are likely to​ spend money on​ when you get bored .​
Examples of​ these are snacks,​ movie tickets or​ game rentals .​
You will be surprised at​ the​ amount of​ money that you will actually save by spending less on​ luxury items,​ following your budget plan and saving for financial emergencies that you are most likely to​ get as​ a​ college student .​

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