Money Saving Tips for College Students

Remembering the time when I was in college and used to run out of money by the 20th of almost every month. I tried everything possible- told my folks to send money in installments, tried putting a limit on my expenditure and also minimized my needs, but somehow I always ended up penniless in front of the ATM by the end of every month, withdrawing the last few hundreds that were still in my account and which would help me drag through the end of the month. I know most of you all would be able to identify with the situation because college time is also the time when everybody faces the maximum cash crunch.

Even after suffering the cash crunch woes myself, I still believe the times today are even worse. The inflation, the demand and supply mismatch and various other factors have made it almost impossible for the college students to fend for themselves. Hence, in our endeavor to help the college kids, here are a few tried and tested tips in order to help you save-

Go Dutch – Going Dutch has always worked in everybody’s favor, contributing while everybody sits together to eat and drink will help you save a lot. Imagine having a 500 rupee meal alone when you can get away with paying only 100 bucks for a huge meal and having friends beside you, telling you to stop eating so much. It strengthens friendships and helps you maintain a minimum bank balance.

Expensive places are a strict no no – College students and expensive hang out places just don’t go together. For the college going youth, quantity definitely comes before quality, and that is exactly why you should go to a cheap local bar or a dhaba and gorge on food rather than going to a high-end restaurant and spending money on little portions of food and liquor.

Flea markets are our best pals – Never underestimate the power of flea markets. They are pocket-friendly, trendy and have loads of variety. Most of the ‘in’ stuff is easily available and it also helps us in keeping a tab on what the celebs are currently wearing. Also, bargaining is always fun and it makes you worldly-wise well in time. Also, brands are a thing of yesterday. Today, whatever you want to wear becomes the latest fashion.

Always be open for treats – We’re always hungry, we’re always looking for food and we are always looking for people to pay for our food. In such a situation, party invites are god’s way of telling you that he still exists. Declining such an offer would be a sin and we, the god-fearing people, cannot take such a drastic step. Hence, pounce on the first party invite you get without thinking twice.

Public Transport – Always prefer public transport to anything that is even remotely more expensive. Saving on conveyance will help you get through the month with more ease and you could spend the money you saved on something which makes more sense. Prefer the local train of a metro over a cab or an auto, it saves time and a lot of money without you even realizing it.

Always remember that saving money will only help you later in the month. You will be able to eat properly during the last week, or you never know you might just have enough money to go out and party. So think before you spend and whatever helps you get through the month is okay. Help your friends in this time of need and somebody would help you when you are running low on cash. Happy saving!

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  1. Money is an important point in your college life and to save the bucks is equally important. I feel you must invest to earn. But invest what when you are broken already? Invest your time, young lad! Work somewhere as per your interest, this way you will save and earn and learn at the same time. Avoid being to the expensive places often. (Why often? Hey! Once in a while is okay, no? YES.)


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