Campus Life: Students Managing Money

The tips in the following article will go beyond the previous article. We will move past the larger, more immediate issues of a student money management, into long run tactics that may make a huge difference. These tips may not create an immediate impact, but may be the difference maker in determining whether you graduate with deep debt or free to move forward with minimal or zero debt. The idea is to provide realistic ways to save money that are easy for today’s college student to implement.

Life on Campus
If possible, avoid having your own car. The cost of repairs, upkeep, insurance, registration and parking would use up a large sum that could otherwise be used as discretionary spending. There are other ways to get around. If possible, take advantage of public transportation to get around. Some systems even offer a student discount. Save even more by using a bike, roller blades or walk as often as possible.

Food is another expense that has many options. You may have meals provided to you through your tuition, but many do not. If you choose to eat out all the time, your going to blow through extra funds very fast. If you truly want to make your money last, prepare meals at home/room whenever you possible can. Simply preparing and bringing your next meal with you is a great way to cut down the out-and-about spending. Establishing the habit of stocking your own place with food for the road is a nice way to save money. In regard to shopping for those foods, shop local farm markets, buy products in bulk and even use coupons to make your funds go farther.

Your Social Life
When it comes to spending money on social adventure, you don’t have to break the bank to have a memorable, fun time. A little creativity will go a long way. Here are some ideas that will help you save some moolah.

Stay home on spring break, you wont be the only one. Take the time off from classes to venture into the local communities. You may find unique hot spots that provide more fun then you ever imagined so close to campus.

It doesn’t take spending a ton of cash to impress a date. Instead of having dinner out, how about cooking or preparing a picnic to enjoy at the park. Search out campus events: concerts, sports events, fairs and festivals to attend. These provide affordable opportunities to spend time getting to know someone without forking out a lot of dough and not looking like a cheapskate. Most people will enjoy the thoughtfulness of creative date ideas.

When it comes to social life, most people hold onto memories of the interaction more than the event itself. You can often get away with opting for cheaper seating at any event, knowing that it’s the people your going with that holds more weight. The little bits of savings from each event will provide opportunities to attend even more events. If you can attend two games, seated at the 20-yard line for the same price as one game sitting at the 50-yard line, it would be wise to opt for two games over just one. You get twice the memories for the price of one.

Self-Maintenance
Someone practicing self-discipline with activities that promote a healthy body (exercise, proper nutritional consumption, active lifestyle) is at the same time being financially responsible. This is due to the proven fact that it cost less to maintain a healthy body than it does to fix a broken/unhealthy body. You gain another two-fold advantage of this tip. You not only work to maintain or improve your health, but also your finances.

Shopping Trips
Take full advantage of the many resale opportunities to fill your wardrobe, household needs and other miscellaneous items. In today’s economy, there are a multitude of consignment shops popping up for you to visit. There are also garage sales, flea markets and other resale shops in every city. Not only will you cut down on costs, but you also may be able to put together some unique fashion styles for yourself and home. You may find items that no one will ever be able to match.

When shopping, try to avoid purchasing any item at regular price. Attempt to only buy items that are on sale. While it may not be on sale or discounted today, it may be reduced in price or placed on sale in the near future. You should always shop around before making a purchase. The item may already be discounted or on sale at another store. It is also wise to plan shopping excursions in ways that help you to avoid impulse shopping. This may mean staying clear of favorite stores or items that will tempt you to purchase an item you don’t really need.