Who doesn’t like money? Personally, I am known as the big spender amongst my friends. Strangely enough, every big spender knows a little bit about saving. Here are some tips for every college student that might be spending above their means.
There is nothing wrong with saving money. At times, it is essential to set some money aside for future purchases. Especially if these acquisitions include necessities such as food and clothing.
Therefore, when you consider saving your money you should keep in mind the idea of quality and quantity. Some spenders like to spend big, while others like to buy in large quantities.
For instance, at stores like Walmart, you will come across buyers who prefer quantity over quality. This is because they are able to buy in bulk and get the most for their money.
On the other side of the spectrum, people who like quality over quantity prefer to buy expensive items that won’t break or wear out too quickly. In many cases, those who bought a pair of shoes at a store like Walmart end up regretting it because the shoes wear out or rip too fast. They may think twice when it comes to buying shoes again because, although they might buy shoes that are pricier, they are guaranteed a product that will last longer.
Regardless of which path you choose to follow you will be saving money whether it is in that instance or in the long run. Another way you can save money is by comparing various products, to one another.
Professor Frank Cipriani, a World Languages and Culture instructor, as well as an excellent saver, said, “I use an operating system called Ubunto instead of purchasing Windows. It provides me with similar programs that Windows has like photoshop and it is free of charge. I don’t have to worry about purchasing any additional programs like Microsoft because a majority of the programs come pre-installed. Also, I would advise for people to buy their clothes at a thrift shop. It is far cheaper and they can buy anything they want and go to a tailor and get that clothing sized.”
Maximizing our utility makes for another option. This means we buy products that will satisfy us the most, for the least amount of money.
Benjamin Joskowski, a freshman finance student said, “One way I save money is by buying things I really want. If I don’t really want something I will save money and wait for something to come out that I would like better. Additionally, when I want to buy something that is expensive I make sure to do my research to get the best price. Finally, I always try to save a portion of the money I make from work.”
We can also conserve our money by applying several savvy techniques to our daily spending.
According to Elina Makna, as sophomore international business student, various ways we can save money are by “Using debit or cash because with credit you have to pay back the bank. Always looking out for sales and coupons, using Uber or car pool, and by buying the cheaper version of the same product (ex: 365, Kirkland, or Great Value).”
Opting to buy store brand products is an effective way to save money because you can purchase virtually the same product at a cheaper price. ShopRite, Sam’s Club, and Walmart are some stores that carry their own store brand options at a great value.
By saving money, we are putting it aside for later. This proves to be beneficial, especially if you cannot find a way to accumulate the money necessary for something you would like to buy.
By keeping all these rational tips in mind, we can expect to find clever ways to make tremendous savings in our bank accounts in the near future.
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