Heading to college would mean heading towards a transition- A transition from the cocooned high school student to an independent and confident individual. At the helm of it is monetary planning. Handling of finances allotted for college tenure would be quite a strain on the child. One may want to enjoy, or one may want to ‘live’ their college years. Here is a list of 10 concise and to the point money saving tips for all those headed to their wonderful college years –
1. Managing Money: Given that college days brings with it freedom, the urge to spend would be at its pinnacle. Reconsider such thought. If you play it safe, you can avoid the sort of financial troubles that plague many young adults. Make an excel spreadsheet and track your expenses.
2. Organization and Planning: Plan out how much you spend each month. Categorize which are essential/ necessary expenditure and which of it is discretionary. Fixed Mobile bills, Transport costs are all that cannot be cut out on. Whilst others inclusive of eating out, are excess and must be kept to a minimum.
3. Campus Life: There are so many points which could be modified in one’s general campus life that could lead to a lot of savings, as listed – buy used textbooks, don’t hang out with big spenders, take advantage of campus activities.
4. Become Frugal: Always be on the lookout for time tested ways of saving money- be it taking public transport, saving on entertainment costs, reduce eating out costs among other things. Prefer home cooked food if you are travelling everyday rather than hoping onto the canteen stalls. If this seems too far a compromise on social life, make a plan where you could alternate between home food and canteen food.
5. Start a savings plan: Set aside a fixed amount to ensure surplus in case of emergencies. Do not always stretch your wallet. Those sudden medical expenditures could burn a hole in your pocket.
6. Prefer College Hostels: Living outside college turns out to be an expensive option in the first year as none of the students know each other too well. Hostel fees are always comparatively cheaper given that meals are included in the same.
7. College Discount Programmes: Watch out for these! There are a lot of discounts and programmes for those attending college. Be it transport or eating out, keep your college ID card handy and research to pick places with the best discounts for college students.
8. Scholarships: Scholarships should become an integral part of one’s study targets. This could help save quite a sum over the whole duration of study. Research various avenues to attain scholarships. There are aplenty in India which have been established to help those under financial strain.
9. Reduce Entertainment Spending: While this may be harsh for someone heading to college to enjoy their lives, the fact portrays a different picture. College is a preparation- While this may be harsh for someone heading to college to enjoy their lives, the fact portrays a different picture. College is a preparation.
10. Part Time Jobs: What good is it when ‘knowledge gained’ doesn’t ever convene to ‘knowledge applied’? Hunt for part time jobs which would further complement your field of study and also add onto the financial kitty that you have set for the month.
Following the given points would leave you well equipped for the turmoil that one may have to face in the future! College is nothing short of a roller coaster ride. To keep it running, would mean to maintain good financial health. Good Luck!
1. Managing Money: Given that college days brings with it freedom, the urge to spend would be at its pinnacle. Reconsider such thought. If you play it safe, you can avoid the sort of financial troubles that plague many young adults. Make an excel spreadsheet and track your expenses.
2. Organization and Planning: Plan out how much you spend each month. Categorize which are essential/ necessary expenditure and which of it is discretionary. Fixed Mobile bills, Transport costs are all that cannot be cut out on. Whilst others inclusive of eating out, are excess and must be kept to a minimum.
3. Campus Life: There are so many points which could be modified in one’s general campus life that could lead to a lot of savings, as listed – buy used textbooks, don’t hang out with big spenders, take advantage of campus activities.
4. Become Frugal: Always be on the lookout for time tested ways of saving money- be it taking public transport, saving on entertainment costs, reduce eating out costs among other things. Prefer home cooked food if you are travelling everyday rather than hoping onto the canteen stalls. If this seems too far a compromise on social life, make a plan where you could alternate between home food and canteen food.
5. Start a savings plan: Set aside a fixed amount to ensure surplus in case of emergencies. Do not always stretch your wallet. Those sudden medical expenditures could burn a hole in your pocket.
6. Prefer College Hostels: Living outside college turns out to be an expensive option in the first year as none of the students know each other too well. Hostel fees are always comparatively cheaper given that meals are included in the same.
7. College Discount Programmes: Watch out for these! There are a lot of discounts and programmes for those attending college. Be it transport or eating out, keep your college ID card handy and research to pick places with the best discounts for college students.
8. Scholarships: Scholarships should become an integral part of one’s study targets. This could help save quite a sum over the whole duration of study. Research various avenues to attain scholarships. There are aplenty in India which have been established to help those under financial strain.
9. Reduce Entertainment Spending: While this may be harsh for someone heading to college to enjoy their lives, the fact portrays a different picture. College is a preparation- While this may be harsh for someone heading to college to enjoy their lives, the fact portrays a different picture. College is a preparation.
10. Part Time Jobs: What good is it when ‘knowledge gained’ doesn’t ever convene to ‘knowledge applied’? Hunt for part time jobs which would further complement your field of study and also add onto the financial kitty that you have set for the month.
Following the given points would leave you well equipped for the turmoil that one may have to face in the future! College is nothing short of a roller coaster ride. To keep it running, would mean to maintain good financial health. Good Luck!
This is brilliant for College Students: save money everyday forever with a Hand Held Bidet Sprayer. How many times have/will you run out of toilet paper especially in the Dorms?! The Hand Bidet Sprayer will pay for itself many times over in toilet paper savings which makes this a very smart and green thing to do while providing superior hygiene at the same time! Available at www.bathroomsprayers.com .
ReplyDelete