Smart effective ways to save MONEY!
Create a budget. Think of a budget as a roadmap to reaching your financial goals. A realistic budget will show you exactly where your money is going and help identify “needs” and “wants” as you work to reach these goals.
Track your spending. Over the course of a month, write down every cent you spend: what you spent in on and how much you spent. At the end of the month, review the list to see where your money is going. Your list will also provide you with different areas where you can cut back
Pay yourself first. When you sit down to pay your bills, first set aside money for retirement, college, investing, or whatever your savings goal may be, and then take care of everything else.
Plan your budget to fit your lifestyle. As you put your budget together, be realistic about where you can save money. Cutting back on certain items is easier and more successful over the long term than cutting things out entirely. For example: buying lunch once or twice a week rather than everyday
Use cash as much as you can. Here’s a good rule of thumb that will serve you well: if you can eat it or drink it, or if it costs less than $20, use cash to pay for it.
Cut out vices – smoking and binge drinking are terrible for you and expensive.
Don’t buy the most expensive college meal plans. Figure out what you actually consume and get the correlating package.
Open a savings account that earns interest. Credit unions have fewer fees and are great for students
Do not try to keep up with others around you. Assess your own assets and spend accordingly.
Discipline Discipline Discipline! Make sure you put away money continuously when you receive it and don’t spend because you have it, but spend because its necessary.