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Money Saving Tips Every Student Should Know

Do your expenses dramatically surpass what your student budget can offer? How many times you’ve promised yourself to save more? If you feel you can’t live in a circle of constant debts, then this is the right moment to explore new ways of money management.

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#1 Begin appreciating the real cost of money

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When you enter a college and receive financial support from your parents you can hardly feel what amount of efforts they spent to provide it. You can only understand the difference when you begin earning money by yourself. Unless you are a heavy spender soon you should feel appreciation to your labor and time. After you get the first salary slip, each dollar becomes twice important. You would stop yourself from buying another T-shirt or pair of shoes. Then you face the necessity to create your own budget. In the long run, you’ll reevaluate your needs and cut some monthly expenses.

#2 Don’t let parties clean out your wallet

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Never promise yourself to save on having fun but involve these expenses in your budget. Your college time is not only for studying but also for boozing and experiencing amazing adventures with friends. Even thousands of promises to yourself and reasons not to gallivant won’t stop you from having all the pleasures of your student life.

The one advice which can save you from going broke is to calculate an approximate sum of money you can spend in a particular month. Then you should allocate a bit more money for extra expenses.

Think it’s boring? Of course, random and spontaneous carouses are much fun and exciting. Yet when you wake up with a hangover and a few bucks left by the end of the month the whole thing seems enormously stupid.

#3 Tackle your expenses and save with the useful tools

If you can’t manage your savings effectively and control expenses all the time, use the help of smart tools. You can always access them on your phone and check the current status of your budget any time of the day. The following list of tools includes resources for the budget management and services that can save your time for earning more money.

Mint

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When I choose the right app for such serious issues I rely on the experience of others. Which is why I put Mint at the first place among other tools for managing your budget. Consider its main features and make your own assumptions.

●Creating a budget that gathers your money and bills in one place.

●A real-time picture of spendings due to automatic updates and categorizing of transactions.

●Splitting ATM and cash purchases.

●Setting alerts and schedule payments.

●Receiving alerts of unexpected charges.

You can use alternative finance managers and expense trackers such as Wally or PocketGuard.

NexTag

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Even two dollars saved on a purchase can become your extra coffee next morning. NextTag will make your future purchases less time-consuming and more budget-friendly. I mean if you can order the same item online without overpayments why not to spend a few minutes on search.

TextBookNova

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It seems textbooks can be the only thing you can’t get for free. However, if you consider services like TextBookNova, you can actually pay less for some of them. Sure, none of these resources has a complete list of textbooks you need. On the other hand your thorough searching you can bring high-quality free pdf versions.

GPA Calculator

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This tool will help you to track your study results and to calculate your GPA without extra efforts. The calculator accurately works online and doesn’t require installing additional apps. And my favorite part, it’s free. Time is money, so if you want to know your study stats, use the calculator rather than counting your GPA manually.

Become a sales hunter

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Buy in bulk during big sales or hunt for fat discounts on coupon websites like coupons.com or retailmenot.com. Using such services you can buy anything from food to the trip tickets. Try to stand against the temptation to obtain a new sweatshirt seen in the store. Spend a few minutes searching for the same brand and you’ll be surprised with a dramatic price difference. Also, remember it’s too big luxury for a student to overpay for the outfits.

Even adults can exceed the limits of their budget. However, it’s twice harder for students who aren’t under the parents’ control anymore. They face the beauties of student life like parties, night clubs, traveling with friends, various entertaining events etc. Which is why you should regulate your expenses wisely not to double your student loan debt.

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