Blog by Lisa: Money-saving tips for students

There’s a lot to be excited about when you’re in college: you have more freedom, your professors treat you like an adult, your classes are actually interesting, and you’re making new friends.

But college can also be stressful—and not only because of your class load. Money can be tight when you’re in college, which can bring on a lot of stress for students. If college tuition wasn’t already expensive enough, there are additional costs to consider too. You now have to dole out for things like rent, food, and other living expenses, not to mention textbooks, parking stickers, and all the other nickel-and-dime things you didn’t plan for.

It’s never too late to start managing your finances though. You have enough to worry about without stressing over money. Get ready to shed that stress and enjoy your time in college with these money-saving tips.

1. Create a budget and stick to it

Before you blow your student loan refund check, get an idea of how far it’s going to go. When you take the time to set up a budget—no matter how simple—you’ll have a bird’s-eye view of your financial situation, which will help you make better spending decisions.

You can create a budget yourself in a notebook or spreadsheet, or there’s the app for that. Try downloading a highly rated finance app; it will help you see where you’re spending and where you need to cut back.

2. Free events are everywhere around you!

But you want to have fun, you say? No worries—there’s tons of fun to be had in college for free! There are the usual campus-sponsored events and clubs on interest which you can check out at our university calendar here –

3. Set up a savings account

We’ve been talking about saving money; now let’s talk about how. If you try to keep the money you’ve saved as a surplus in your checking account, you’ll be tempted to spend it. Use your budget app or plan to determine how much you can put into a dedicated savings program.

Even if you use tools within your budgeting app to invest small amounts in trading, you should still have a savings account. As safe as many investment programs might be, you need a secure amount of savings stashed away. Just $5 a week will add up before you know it. And you’ll feel better knowing you have something set aside in case of an emergency. Stay out of it as much as possible though. There’s no point in having it if you dip into it regularly.

Be sure to do your research on banks and which ones offer the most benefits, not only in programs but also in proven security and availability.

If you follow these tips then in no time you will actually realize that having always spare pocket money and making up your budget is really essential in life and must be learned during your university years.