THE MOST PRACTICAL MONEY SAVING TIPS FOR STUDENTS

Do you often end up with too much month at the end of your money? Have you been trying hopelessly to save as many Gandhi Ji’s headshots as possible with futile results?

It may often seem impossible to save money especially for college students, living on a tight budget and too many items on their To-do list of fun and hangouts. But if you invest a little time and planning into your budgeting and financial discipline you can always save more than you were, for stretching your money a tad closer to the end of the month.

The battle of saving vs. spending:

A common idea for saving money is to just use it less often! But this basic idea does not seem too enticing to most people, especially youngsters who have the least of care in the world apart from almost mandatory social obligations of having the ‘raddest’ parties with friends. So, saving is often the last of their thoughts.

But in this bewildering battle between spending and saving, most of the times, as life is unfair saving wins. So, here are a few tips on saving more money, while you are in college:

Make a list: those who were simply scowling at this blog but still reading on to find a way out from the depths of debt have probably starter rolling their eyes now that we mentioned two dull tasks in a go. Yes, we dared to pen two outrageous ideas in a go, first being budgeting and the second of making a list! While most students leap to reach for their mouse to click through more cat videos on YouTube, let us explain why we think this is a good plan. By writing down all your expenses you can analyse the areas where you spend the most. Then determine which ones are necessary and which are not and plan accordingly.
Set up saving goals: simply planning to save will not be the right motivator for helping you to save. You must have a bigger goal in sight. So, plan something you have desired to own or do for a long time and start accumulating funds for that. It could be a new phone, a camera or a trip, whatever sets your savings muscles rolling will do. And at the end of this bitter struggle you will still have a new amazing experience to look forward to.
Determine your priorities right: it is evident that what you most value be it a hobby or a person that will be the one eating away most of your funds. So, sit down and prioritise where your finances must go.
Automate your savings: a good plan for extreme shop-a-holics to have frugal discipline is to automate their savings or fund expanding investments. The idea is that if you cannot see it then you cannot use it hence, you will not spend it! So, automate transfers from your expense account to your savings account the moment you get your monthly allowance that way it is locked in safely away from your own robbing hands.
Try and create an obstacle course whenever you get in the mood of unnecessary spending: whenever you see something that may actually be completely unnecessary in actuality but for the moment you feel like you must have it. We recommend you take a walk or find something else to do before you drop in your precious pennies to make an unnecessary purchase.
Bonus tip – Use a student discount card like, YUP Card: YUP card is a discount card for college students only, with a yearly subscription as low as 499/-. The card comes with a plethora of offers valid in different chains of cafes, restaurants, hookah parlours, pubs, entertainment centres and shopping and retail sites and stores. With a YUP Card one can save up on every billing amount starting from minimum 5 percent to maximum 20 percent or higher. And the card has unlimited usage without any hidden preconditions.

Saving should not be a struggle for temporary change:

In closing thoughts, most youngsters end up paying more than they should due to either bad habit or Naiveness about expenses and costs. If they can simply change their outlook to find an opportunity where they can save more without compromising their quality of entertainment then the whole pattern of spending will undergo a revolutionary change. Thus, saving should not be taken as a short term plan but instead should be proactively built into the lifestyles so, that one’s financial health remains balanced but not completely deprived.