College comes with a lot of opportunities to make money, yet the expenses can be overwhelming when we are not smart with money. On this post, I’ll be sharing a few tips with us on how to spend less in college.
- GET FINANCIAL INTELLIGENCE: It beings with knowledge. Knowing what should be done with money and how to get it done. College comes with the be benefit of getting to attend conferences and trainings on financial intelligence at no cost. Have you been attending? You can begin today and the good part of this is that you get to connect with like minded people who can be a source of guide and support on this journey. Also remember you have to put your monthly financial plan together to keep you accountable as you spend.
- MAXIMISE DIGITAL RESOURCES: We have tons of resources all over the internet that can help you get smart with money. You can use the digital apps that track your savings, spending and you can even set spending limits on some of them. Automate your savings and investment deductions so that you won’t have to keep telling yourself stories at the end of each month.
- JOIN AN INVESTMENT CLUB: If you can afford this please do. Being among people who are on the move to multiply money propels you to be smart with what you have already. If you have a community of like-minded friends, you can make suggestions on saving, investing, sharing knowledge on finance, and building accountability among yourselves.
- THINK THE FUTURE: Be a visionary. When it gets tough and you feel you aren’t spending as much as you want, remember why you started. Think about your tomorrow, the business, the project, your children, your community, your freedom and the life of abundance you’ve always dreamt of. Keep to heart why you are doing the needful and sacrificing where it is needed. It is worth it at the end.
- COOK MORE OFTEN: As much as college can get us so busy making it seem like we aren’t having time to cook, we can make eating healthy a priority which is less costly. Eating twice a day while taking fruits and drinking a lot of water goes a long way to keep your mind and body in shape, which helps you make the better decisions daily. You can prepare breakfast along with dinner. You get it heated in the morning and you can even take it along to school. Buying food costs a lot and it is hardly ever satisfying and nutritious as home made food.
- MAKE USE OF PUBLIC TRANSPORTATION: Transportation cab be costly if you aren’t making use of public means. I know private can be faster but remember you are aiming at something. So you might just have to get up earlier and be smarter with time so that you can save and invest more with the money you have currently.
- BUY LESS FASHION ITEMS: A lot of students get obsessed with putting on the best clothes, shoes, bags and everything flashy and they forget they’ve got a future to prepare for. Since you know you are aiming at something, learn to say no to anything not taking you there and be proud of your decision. It might be painful sometimes but you will be glad you did.
- BE KIND TO YOURSELF: Remember as you pay your tithe, give, invest, save, purchase your needs, you have to be a little gracious towards yourself once in a while. Get yourself the book, bag, shoe, food you’ve been dreaming of and you can currently afford and be glad about your progress.
You can also spend time introspecting and thinking out ways you can save more and cut out unnecessary expenses from your finance. There is always room for improvement in the way we handle money.
