CollegeReflections.com

 

1. Lower your brand standards

Mom and dad are no longer paying for everything you do (if you’re reading this). It’s no longer all about the Abercrombie shirts, expensive dinners, Grey Goose vodka, and Corona beer. If you want new clothes look for sales, or check Ebay. Instead of that expensive steak, try grabbing a burger. And most certainly downgrade your alcohol brand purchases. You do not need Crown Royal, grab a bottle of R&R. Try the Busch lite. I promise the difference in taste is not worth the difference in price.

2. Pre-party

If you are going to the bars, have a few before you leave. Instead of spending $20-50 at the bar, try having a little party at the house until 11. Get the point you want to be and then go out. That way you can nurse that single drink or two at the bar and save $10-25 bucks. This may not sound like too much, but if you go out 2 or 3 times a week it adds up quickly.

3. Cook

You probably never tried it in high school but it is time to learn, even if you are living in the dorms. You may not have an oven, but you can certainly manage a microwave. This means you can make sandwiches which are a simple staple in the college life. You can also heat up anything that comes out of a can or box (rice) and keep a variety of snacks. If you are feeling brave grab a george forman grill. If you have a grill and a microwave you can cook anything you find in any kitchen. Chicken, burgers, fish, rice and vegetables are easy to make. It’s very simple, very quick, and drastically cheaper than going out. You might be surprised and actually enjoy it too.

4. Coupons

While you’re college may be different, I know that most in my area provide “student coupon books”. These books contain coupons to local businesses looking to drum up business from new students on campus. It shocks and amazes me how many of my fellow students never bother to pick up or even open these money savers. While many of these coupons will be worthless to you, there will likely be at least a few helpful ones in each book. The trick is to have enough books to have a steady staple of these coupons. For example, our books often contain several “buy one, get one” and “buy this and get this free” coupons for both local fast food and local restaurants. With these, you can often eat fast food for $3 or 1/2 off at a restaurant. Grab as many as you can and actually use them.

5. Budget

College students normally have a pretty set amount of money they are going to have on hand, whether this is a one time scholarship check, weekly parental allowance, or a bi-weekly paycheck. Let’s be honest, you know how much you are getting. Stop spending it quicker than you get it. If you have a $100 for the week, realize you can’t drop $60 at the bar this weekend. Put aside what you know you are going to need for your expenses. Also, by keeping track of what and where you are spending you are much more likely to question purchases and save a little more.