Spending Money Wisely as a Student

Spending Money Wisely as a Student

Saving student have a SHINING future

June 2, 2022

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In this article, we will talk about 5 methods that make you start spending money you earn better. Think you know all the methods to save money as a student? Find unusual methods to save money on this below list: 

1. Keep tracking on your finances

In order to spend money more wisely at first you need to realize where your money is going. You should make a budget plan and keep track of both spending and earning. When you are aware of where your money is going, you will start to look for opportunities where it could be better spent

2. Limit the number of times you eat out monthly

Eating out is a large waste of money, most food and beverage items have a huge markup. Eating out is unhealthy as well. Thus, you should plan on ordering takeout once a month…not a couple of times a week. We encourage you to cook and eat at home.

3. Make your own coffee and drink more water

Even though coffee shops are convenient, you will spend at least $2 for a cup of coffee;thus, once you make your own, you’re saving $2 per cup. If you’re drinking two cups a day, that’s a saving of about $1,500 a year. Moreover, starting a day with a glass of water instead of a cup of coffee will give you the energy for a whole day. 

4. Live with others so you can split rent and utilities

But when you’re living with other people, thinking about who should pay which bills and how much is something you need to consider. Once getting it wrong could cause arguments and drag you into financial problems. It is important that you will feel comfortable talking about money with the people you share a room or a home with.

5. Stop trying to impress other people

The average person spends a lot of money just trying to keep an image. From luxury cars to modern devices, much of what they buy has more to do with impressing others than it does to do with purchasing something that they actually want and enjoy. Thus, stopping impressing others can save your monthly or yearly expenses.

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