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How to Spend Money and What to Spend it On

By Edited Jul 9, 2015 0 0

Let's say you're one of all those college students who is working two jobs trying to avoid debt, make ends meet, and still have cash to go get a drink after a pitiful 14 hours of tedious work. You make $8 bucks an hour, maybe if you're lucky you make $9 or $10. In the end, the extra dollar an hour won't make you rich and won't pay off your iPhone bill plus car insurance. Therefore, the options are: find another job (in addition to classes, a boy/girl friend, and a social life? There are only 24 hours in a day!), quit college and forever get paid crap money working for a crap boos, or figure out a way to make the money you have go as far as possible!

I'm going to have a pretend budget. Let's say a job pays $8/hour. Every week you work 25 hours. You have to pay for food, a phone bill, gas, and ect. That is less than $800 bucks per month. Oye! 

The simplest and most difficult rule is if you don't need it, don't buy it. Skip the hair salon, the nail salon, the pretty smelling $30 shampoo, the special organic teas. Yeah, you want it, but you don't need it! Treat yourself every once in a while, but there are cheaper ways of doing things! 

Grocery shopping, especially if you have a special diet like I do (vegan), can be annoying and expensive. The best thing to do is make a list. Know what you eat, what keeps you full and what is cheap. Bananas are cheap and filling for me, so I go with them. Sadly, being healthy is hard to do on a budget. Instead of expensive health foods consider smaller portions of relatively healthy food! Skip soda and juice and buy yourself a water bottle!

Save your pennies! Seriously, save up those coins and trade them in! I use to go to a bank that didn't charge you a fee to exchange coins. Now they do, but even so, I make anywhere from $25-$70 just by saving pennies! That means gas money or phone bill!

Find an alternative income that doesn't require getting another job! Selling old textbooks or electronics can bring in a chunk of cash! There are plenty of thrift stores that sell nice clothes and you can trade in clothes for store credit or money. Usually the store credit is more, so I go for that because then I have more money for clothes!

This isn't exactly a money saving tip, but more of a strategy for paying bills. If you know you have to pay it, and you have the cash, pay in advance so there isn't a chance to spend it on something else. I'm guilty of that because I love to shop! I will try to pay my phone bill for a few months, if I have the money to do so. I like this strategy because it also relieves stress!

This is a big one: No online shopping unless it is for the following: expensive electronics, books, music, and movies. Because retail books stores are going to have jacked up prices for books and you can find all of the above used and cheap! Otherwise, I have found that everything I buy online (besides those things) I wouldn't have bought if I had saw it in Target or at the mall. 

One more tip: Spend cash, not card. I always feel like I have less money when I see it slipping through my hands. The key to spending money is to consider if you need it. Most likely not. Many of our "needs" are actually first world problems. If you think you need something, you might be suprised that you actually don't and your bank account will thank you.




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