Amanda Mier is a senior at UC Berkeley and she is setting up her first budget. This week’s challenge: Cutting expenses.
Courtesy: Amanda Mier
“I’m so broke” might be the most common refrain among college students.
But when it comes down to it, how many college students have actually taken the time to set up a budget?
I’ll admit, until a few weeks ago, I didn’t have a budget. And, while setting that up was a very important first step, I learned that actually budgeting is the real challenge.
Case in point: I was feeling pretty good about taking charge of my finances. Then, my credit card got declined when I was buying $100 worth of groceries at my local Trader Joe’s.
Oops! It’s time for me to put my money where my mouth is.
Now, don’t worry – this isn’t a 207-step journey to financial wellness. We’re going to make this as simple – and painless – as possible. A few small changes could lead to some big savings!
1. Milk your student services and discounts.
Going to college costs a lot of money — but, there are many resources at your disposal to help you save money that you might not be aware of.
Shannon Eusey, president and co-founder of Beacon Pointe Advisors, recommends looking into every service available. If on-campus facilities (like gyms) provided to students are open and safe, take advantage of them. A lot of schools also give free access to software programs or publications, which can help diminish costs that add up…