When you enter college, you are also handed these new financial responsibilities which you didn’t have before.
You have to stick to budgets, make money and save up so you don’t end up broke.
Apart from the high tuition fees, accommodation and travel expenses also end up being very burdensome.
If you live far away from college or your course requires you to get out often, it will definitely cut into your expenses.
Fortunately, there are ways you can save money on travel. Here’s what you can do.
Set A Monthly Travel Budget
Setting a travel budget every month will help you spend mindfully and cut out unnecessary expenses.
You can do this by estimating the number of trips you will have to take each month and calculating the total amount they will cost.
If it is a high sum, try looking at alternatives to save some money.
For example, if the early train ticket is cheaper, make a point to catch that train, even if you reach early at your destination.
If there is only a short distance to cover, walk or take public transportation instead of taking a cab or using a car.
In situations where you have an upcoming trip that will require a lot of money, make sure you compensate by saving extra beforehand.
Get A Part- Time Job
There are numerous benefits to getting a part-time job while you are in college.
Not only will you make extra money, but you might also be able to earn a certificate of recommendation or extra qualifications because of your job.
You can check if your college offers any part-time jobs for students. It can be as an assistant at the library, a campus ambassador, or even a teaching assistant.
If you take up a receptionist's job, you may get a lot of spare time that you can utilize to finish your project or write your assignment.
There are also jobs you can do from your dorm room like tutoring online or content writing.
Cut Down Expenses
Apart from trying to save up on your travel costs, you should try to save money by cutting down on other expenses as well.
This includes food, electricity and additional purchases you make throughout the month.
You can save a ton of money by reducing the number of times you eat out or reducing electricity consumption by turning off the air conditioning when it's already cool inside.
Look For Discounts
Many students don’t realize that they could purchase many things at discount rather than paying the full price.
At the right stores, you can find everyday essentials for about half the price and this will help you save so much money in the long run.
So try and make some effort to hunt for stores that sell items at affordable prices or reasonable discounts.
Keep Track Of Your Expenses
It is easy to overspend if you don’t keep track of all your expenses.
Even small expenses like coffee and supplies can add up to a significant amount.
Make sure you note down every expenditure in a diary. If you find yourself spending a lot of money on random purchases or stuff that you don’t need, reevaluate your purchase decisions and change your spending habits.
For example, instead of getting your coffee at the takeaway, make coffee for yourself and you will save a lot of money.
Stick With People Who Spend Wisely
If you constantly hang out with people who spend a lot, chances are you will also end up spending a lot more than you should.
While you don’t have to stop hanging out with them, watch how you spend your money and stick to your budget even if they spend more.
Having friends who have good saving habits will also help you keep a check on your expenses.
Practicing new saving habits can be difficult in the beginning but once you get used to it you will be proud of the savings you’ve made.
Be consistent with your savings and mindful of your purchases. This itself will go a long way!