Tips on How to Save Money as a Student

As a student, often times, it may seem difficult to save because you know that you will get your allowance every week or every month one way or the other.  While you may not really understand yet the difficult in earning money, it is important that you learn how to save money at an early age – with your own allowance – so that after you have graduated from high school and college, you understand the value of saving money and how it will benefit you if you do it.

Student and SavingsThe problem for most students is that they do not have any idea on how to save money properly.  When the thought of savings comes to their mind, they immediately think stashing away a good percentage of their allowance each time.  The truth is saving is not all just about stashing your money for future use, but it is also about how to make use of your money properly so you can have spare money to keep in your savings.  We have listed a few tips which you may find useful on how students can save money:

Don’t Buy on Impulse – impulse buying is what put a lot of students in big debt, especially when they already have a credit card of their own.  Just because you like something or something is trendy does not mean you need to have it.  If you blow your money or keep having credit card debt this way, you will never be able to save money which you can use when you really need it the most.  Before making any purchases, ask yourself first if it is a necessary buy.  If it is not, then do not buy it.

Keep Your Credit Card at Home – if you have a credit card and you know yourself to buy things impulsively, then it would be best to keep your credit card at home, or better yet, do not even apply for one.  If you always have your credit card with you, you may be tempted to make unnecessary and unplanned purchases, the likes that may bite you in the end.  To avoid this and have better restraint, keep your credit card at home and only bring it when you have some planned purchases.

Stop Keeping Up with Your Classmates – there will always be rich kids so it is not avoidable to have some in your classes.  Just because these classmates of yours have these or that, or that they hang out and regularly eats at these places, it does not mean you need to keep up with them.  In fact, it is often best to avoid hanging out with these people because you may be pressured to be in big debt just to keep up with them, which in turn does not really matter to them because it is not them who is trying to fit in.

Stay at Home – regular outing with classmates can be very expensive.  It would be best to stay at home, read a book, study, watch TV, play video games, or surf the internet instead of going out to the mall, watching movies, and hanging out on coffee joints.

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