Tricks to Stay Under Budget as a First-Time Freshman

  • offtocollege post - please share:
  • Life as you know it has changed. You are no longer thriving off the funds of your parents, but are instead challenged to find your way as a college freshman.

    Living in the dorms or even in your own apartment, adjusting to school as well as living on your own can be overwhelming and expensive.

    Here are seven tips for staying on budget as a young adult for the first time.

    Keep the Necessities and Forgo the Luxuries

    You need groceries to survive, but you do not need to go to the movies every weekend. Investing in the bare necessities first is the best way to live within your means as a college student. Take stock of how much you have or earn and make sure you have enough to get buy before spending in non-essentials.

    Build Your Savings Account

    Emergencies are inevitable and are the biggest threat to your budget. One flat tire can cause your financial plans to spiral out of control if you don’t have a backup plan. Building your savings account is the best way to ward off crises caused by miscellaneous expenses. You should make every effort to set aside at least five percent of your earnings for a rainy day.

    Take on an Extra Gig

    You can have your day job and also add on a weekend gig if funds are lean. Many college students work part-time jobs and find that their expenses far exceed earnings. You might walk the neighbor’s dog or take on babysitting gigs to supplement regular income.
    Use Cash

    There is something about having cash in hand that causes consumers to exercise more discipline. Restricting Yourself to cash will force you to consider if the purchase is a need or want. You can even find extra cash with missingmoney funds for lost money. Just check out what you might be eligible for.

    Share the Financial Burden with Roommates

    It is not fair for you to pay the rent and furnish food all while your roommates keep their funds. You have to exhibit firmness when talking to your friends about their financial responsibilities if you ever hope to stay on budget. Make sure everyone has a fair share of responsibilities for the house.

    Decline to Charge

    A credit card should always be your last resort when in college. You should not use charge cards to pay for a night of fun or an adventure because the interest rates associated with revolving credit can cause you to go over budget. Purchase what you need and venture into your wishes only when there is disposable income to do so.

    Monitor Your Expenses

    Keeping your receipts and calculating how much you spent the month prior can help you with this month’s budget. It is always a good idea to know where your money is going.

    Life in college can be challenging, but it does not have to be impossible. These tips can help you stay on budget and live as a responsible adult.

    Off-to-College reference:

    about college budgeting

    $1.00Bestseller No. 1
    Fjallraven - Foldsack No. 1 Backpack, Fits 15' Laptops, Black
    114 Reviews
    Fjallraven - Foldsack No. 1 Backpack, Fits 15" Laptops, Black
    • TIMELESS: Simple. Functional. Unembellished. Your perfect pack for everyday use and walks in the forest.
    • FUNCTIONAL: Stash your laptop (up to 15") in the padded sleeve, your everyday essentials in the main compartment, and your keys and small essentials in the front zippered...
    • COMFORTABLE: The supportive shoulder straps and padded back panel protect your back from your pack's contents so you can travel comfortably.
    $17.16Bestseller No. 2
    Bell Catalyst Bike U-Lock, Silver
    481 Reviews
    Bell Catalyst Bike U-Lock, Silver
    • Anti-theft shackle design-twice as hard to steal
    • 9.25 inch hardened steel shackle for high security needs
    • 4 ft. X 12 mm HD steel cable with patent pending, anti theft shackle design
    $2.00Bestseller No. 3
    UShake Heavy Duty U Lock, Bike Bicycles Motorcycles Combination Lock Heavy Duty Combo Lock for Anti Theft (U-Lock-10mm)
    57 Reviews
    UShake Heavy Duty U Lock, Bike Bicycles Motorcycles Combination Lock Heavy Duty Combo Lock for Anti Theft (U-Lock-10mm)
    • KEYS-FREE: No need any key to secure your, motorcycle, e-scooter, gate. No more worry for forgetting keys.
    • COMBINATION: Easily set your own 4 numbers combo by the fist use. Smooth dials turning gives you confidence for quality.
    • STRONG SHACKLE: The 10 mm hardened zinc alloy shackle resists both cutters and leverage attacks. 4mm PVC coating protects the lock from any scratching.

    Last update on 2019-02-14 / Affiliate links / Images from Amazon Product Advertising API

    do us a quick favor and please share this article - and don't forget to comment


    Time limit is exhausted. Please reload CAPTCHA.