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10 Effective Ways to Manage Your Money As a College Student

10 Effective Ways to Manage Your Money As a College Student
Manage your money while studying in college

Making money is important but managing your money is more important than making money. If you don't know how to manage your money than no matter how much money you have, you always face troubles. 

Especially for a college student, being a college student, you need to know, how you can manage your money.

The fact about college life is, this is the life where you want to experience many things but money comes between you and your desires. So, this article will help you to manage your money as a college student.

11 effective ways to manage your money as a college student;

1. Save your money:
[don't purchase books download them]

Saving your money is the first step to manage your money. If you want to save your self from becoming bankrupt than start savings. 

For college students, books are the only thing where money can be saved easily. It's not necessary to purchase new books especially when you already facing financial problems.  

On the internet, you can get an expensive book for free Or at a very cheap price. For example, in a book store if any book is available for $100 and that same book you can purchase on the internet for $10. 

All you have to do is to visit any website which selling PDFs to students than just put ISBN of your book and If it is available there than purchase it. The one thing which I am sure about is if the book is available at the online store that will be very cheap from any general book depute.

Here is one important query of students is, some college professors publish their books and insist student purchase their books from the store. Then in this case money can be saved by purchasing that same book from your seniours. Because the old book won't charge you as much money as a new book will charge. Maybe in this way, you won't be able to save hundreds of dollars but a small amount of money can be saved.

2. Track expenses by making a budget:

Budget making is a basic way to manage your money. If you want to save your money than you have to make a budget. 

When you make a budget and spend your money according to it than you get a track record of your expenditures. You can also track your unwanted activities where you spending money and in the future, you will easily reduce your spending of money at these things.

Another huge advantage of budget making is; when you make a budget then you know where well about your money, how much it is, and where you have to spend this amount. So, it makes it easy for you to manage your money.

When people don't make a budget than they not only spend on the unwanted thing but they also haven't any track record of their money after spending. So, always make a budget and then spend your money.

3. Avoid Branding:

All students want to be good looking at their college time. for that, they try to purchase expensive brands. These brands charge them a huge amount so, It's important to purchase affordable things for you.

4. Reduce parties and Hangout:

Spending time with college friends is a good thing. you must enjoy your life and your moment with friends because life won't return you these moments, so chill. But make sure you don't make it too much. Especially if you are facing financial problems. 

There is a difference between hangout in college and hangout outside of college. Because hangouts in college won't charge you as much money as outside hangout and parties will charge.

If you go into parties with friends on a weekly or daily bases and won't be able to manage your money than you just have to make a gap between back to back parties. And convert them into monthly bases. Because you already meeting with your friends in college.

So, reduce parties' college friends if you won't manage your money.

5. Use public transport:

Use public transport instead of private. because public transport is cheap than private. Public transport maybe a little time consuming so you have to manage your time to travel on public transport. It's like the cons of using public transport for students.

But the pro is: you will save your money.

6. Reduce bad habits:

A bad habit is the only place where students/people spend their money and don't get any positive results. If anything which isn't giving you profit then why doesn't you leave it. 

The common bad habits in college students are smoking and drinking. It does not only charge them money but also time, energy, in the end, they also face health issues. 

Enjoyments with college friends are good but enjoyment with college friends by drinking and smoking is not good from any aspect. Because bad habits not create financial problems in your life but also are the reason for the lake of focus at your studies which is another disaster for your future.

If you are a college student who has this type of bad habit and you want to manage your money than you have to leave these habits. To leave something from day first is not easy but if you take start from today and try your best to reduce them than you will see at one day you completely out of this drug siege.

7. Meal planning and outside foods:

The meal is something where students spend money without realizing that they spend too much. Meal planning for a college student is very important. Because our motive is how we can save our money. 

I know there would be many restaurants and hotels in your way and you want to eat there but are not eating them and the reason is money. Then why not you concentrate on your meal planning and it's improvements. 

Reduce your unwanted meal like burgers while retuning from college or eating food more than three times in one day or Tea and Coffee in after noon time. Because I have seen many peoples like to have tea or coffee at 3:00 PM. So, reduce it if you want to manage your money.

Affording outside food on a daily bases is very difficult for college students. So, rely on cooking by yourself and try outside food as less as you can. 

Another disadvantage of outside food is unhealthiness. This junk food is a fitness killer, so, stay away from them.

8. Use student ID for a discount:

Not everywhere but somewhere you can get discount easily by using your student ID. Many stores and shops give discount offers to students. So, always try to grab these deals.

The worldwide common discount for students is public transport like trains and bus services. that where you can easily get discounts. 

So, being a college student is important for you to have a college ID card along with you every time. And when you buy something don't forget to show yourself a college student. That maybe won't give you a discount every time but if you are lucky then you definitely will. 

So, use your student ID whenever you purchase something from anywhere. 

9. The focus in your study:

Best way to manage your money as a college student is to focus on your study wisely. Go to college take your class and return home or hostel without concentrating here and there. Because when you won't study well into your college time than you enrol for tuitions or summer classes or coaching classes which will not only charge you more money but also time-consuming.
As a college student focus on your study is more important than anything especially when you or your family are facing financial problems. It won't help you to save your money directly but indirectly it is very profitable.

It's good to see other activities like hang out with friends and spend some moments of life with them but the study is more important because it is your goal and that why you are in college.

10. Start making money:

Managing money without making money is almost impossible. So, it's important to have some money stream that earns you daily, weekly, or at least monthly bases.

There are hundreds of ways for college students where they can earn a very good amount while studying into college.

If you want to earn some extra bucks as a college student. I have already published an article on How to make money while study into college so, make sure to read it. And see how you can make money as a college student.  

The conclusion to manage your as a college student:

These 11 effective ways to manage your money as a college student can be helpful for you if you act according to them.

Tell us about your way to managing your money into the comment section. And If you find useful to this article then don't forget to share with your college friend and help them to manage their money also.

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