When students go away to college for the first time, the weight of money can hit them like a ton of bricks. Knowing a few simple student finance tips could make going to school easier for a lot of people. On September 25, the Telegraph put out an article entitled “Student Finance: Money Wasting Danger Zones,” which showed a number of ways that students attending college end up wasting more money than they can afford to.
Thankfully, many of these student finance tips are quite easy to work with.
Brand Name Products
One of the best student finance tips people can give is not to spend money on brand name products if there are cheaper, budget brand alternatives, especially for food items. Even students that prefer organic products can often find cheaper versions of them under the stores brand name. Doing this will almost certainly help one to save money fast.
Paid Long Term Memberships
While long term memberships can be terrific money savers for some people, they can actually end up being one of the worst ideas for saving money. The membership fees might not always be justified, and even if they are, one may end up wasting money on a bunch of stuff that they did not need in the first place. Not only can it drain ones bank account, but it can also help to clutter their apartment or dormitory quickly.
Buying a pack of cigarettes once every few days or a cup of coffee once a day can really ad up, especially if a student has expensive taste! Perhaps one of the best finance management tips that one can benefit from is to find cheaper, less habitual alternatives. Making coffee drinks at home for instance could be a lot less expensive than going out every morning for the same thing. With a few smart ways to save money like these, anyone can make sure that they are not hit with such a financial shock when they head off to school.