A College Student’s Guide To Saving Your Pocket Money

With the price of almost everything being on the rise (we also have GST to thank), it is almost impossible to save every last dime you can get. And if you’re a college student, the struggle is real. But don’t worry, we’ve got you covered. We’ve put together a few tips for you to stretch out your daily, weekly or monthly pocket money. Because after all, the best things in life are not always free.

Walk It Out

Walk as much as you can. Walking not only saves your money but is also a great way to keep fit if you can’t hit the gym. Even if you’re using public transport, make sure to use the cheapest one. Save the Ubers for days when you really, really need it.

Homemade Food > Outside Food

Nothing beats a hearty, home-cooked meal. Even if you know you’re going to be home for lunch or dinner, pack a light meal (like a sandwich) in case your taste buds start rolling unexpectedly. This does not mean that you don’t eat outside food altogether, just restrict it to once a week or once in two weeks.

Prioritize Your Expenses

A great way to curb your expenses is to prioritize what exactly it is you need to be spending on. If you have a loved one’s birthday coming up, keep a fraction of your pocket money aside beforehand, for whatever expenses you may incur. However, don’t compromise on your own needs – make sure you think about your own expenses first before anyone else’s.

Keep A Record Of Your Expenses

Track how much you’ve spent on a daily, weekly or monthly basis. Once you look back at this record, evaluate your expenses and if you’ve gone over your intended spending amount, figure out where you can cut down your spending.

Keep Some Sort Of Backup

Apart from understanding how to spend your money well, you should also know how to save it. Always keep part of your money for backup or emergency purposes, but make sure it stays where it is until the time comes. Do not pull out money from your backup for unnecessary expenses, unless absolutely needed.