Finances can be a burden on college students. Saving money from your paychecks can help build your savings. Photo illustration by Madison Anderson.
It’s no surprise that college is expensive and money is constantly throwing curve-balls into college students lives. Students constantly ask themselves what they can do to save money and spend it more responsibly.
Here are some helpful and creative hacks that past and current students have found helpful to get the most bang for their buck.
Creating a plan for your budget can be helpful by seeing what expenses are coming up, where you are losing money, and determining where you can cut back on spending.
“I try to be conscious of the payments that I have to make in college and plan ahead for those expenses, so I don’t overspend my money,” said Tia Ashley, a freshman general studies major from West Jordan.
Ashley said when she prepares for those upcoming expenses it helps motivate her to not overspend.
Holding yourself accountable
Allie White, communication studies and media studies department academic adviser, suggests that students set limits for themselves and hold themselves accountable to those limits. This applies to both spending and saving your money.
“I can only go out to eat once a week or I can only buy one new item of clothing once a month,” White said. “Holding yourself to your limits helps save money but also makes you more responsible.”
Kate Maddock, a sophomore communication studies major from Elk Ridge, said she always puts money from her paycheck straight into her savings.
“I’ll put anywhere between $100 and $200 in my savings from my paycheck, and I have to do that no matter what the size of the paycheck is,” Maddock said.
Putting money in your savings makes it so you are less tempted to spend the money, Maddock said.
Working at a food restaurant may offer free meals
Working at a food restaurant not only brings in a paycheck, but it can also provide free meals during your shift.
Kaytlin Clegg, a freshman nursing major from West Jordan, said she gets free meals by working at Chuck-A-Rama.
“When I work, I usually eat there because it’s part of my benefits at my job and it helps so I don’t go out and eat, which costs more,” Clegg said.
Keep a photo of an idol in your wallet
Some people put a picture of someone they look up to in their wallet so when they see the photo they hear that person’s voice telling them to save their money, said Abigail Loch, a sophomore population health major from Elk Ridge.
“I put a picture of my mom in my wallet so whenever I go to spend money I see her face and if it’s an unnecessary purchase I usually don’t go through with it,” Loch said. “Seeing my mom’s face makes me realize how unnecessary my purchase is.”
Saving money doesn’t have to be a hassle. By following any one of these hacks, you could find yourself saving more money than before.
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