Tag Archives: How to save money as a student

How to Save Money In College

**How to Save Money In College**



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This video covers the 6 tips for saving money in college. Whether you are in college now, or will be soon, it’s important to understand your personal finances and how you can optimize your savings and financial knowledge for after school. Learning how to save money in college now will be especially beneficial as you move through college and into your career.

Many college students struggle with not having enough money, overspending, and constantly feeling broke.

This video will give you a few ways you can make extra income, save money on school expenses, as well as book recommendations for personal finance.

Here is a brief overview of the 6 tips.

1. Set a budget

2. Find a part time job.

3. Avoid tempting credit card offers while in college.

4. Avoid new textbooks, and buying at your bookstore.

5. Learn the basics of financial literacy.

6. Understand your student loans.

Those were the 6 tips and make sure you stay to the end and get the bonus information we provide you on saving for retirement.
in this video I'm going to cover six tips on how you can save money while you're in college the first is to set a budget the most important part in establishing your spending plan is analyzing what your income will be per month whether it be money from your parents student loans or best yet a part-time job this should only take 20 to 30 minutes and you should do at the beginning of the semester or quarter your actual expenses might change a little for month-to-month but the most important part is that you have a general outline to follow you'll want to focus on how much you can spend on food entertainment transportation and books for the semester once you see everything together you can figure out what you can cut down on to save a certain amount if you are a freshman living in the dorms you will most likely be required to buy a dining hall meal plan and this will be creating your spending plan a little easier but one thing I watch out for is how much you go out to eat with friends because this will add up quickly when you enter into college you will finally be on your own and will be responsible for your own finances take this time in college when you have a limited income to build good habits now one great way to tackle all your spending is by using the free app and online service mint this is not a sponsored video or anything but rather something I personally used to keep track of my own finances tip number two is to find a part-time job a great way to improve your spending plan is by obtaining a part-time job while you're in college a part-time job will give you extra income to do fun things with friends go out to eat travel on the weekend eat healthier and more luxuriously than mac and cheese or Top Ramen one of the most convenient places to work at is your school on-campus jobs are perfect for students because these jobs are typically more flexible with your school schedule you can find on-campus jobs at your gym bookstore restaurants dining hall or grading for professors another option you might want to consider is becoming an RA or Resident Advisor for the doors of your school after your first year this is a great option for students looking to save money on room and board because most schools will give you free housing and exchange for being an RA which can easily save you ten thousand dollars for the year number three is to steer clear of tempting credit card offers by the banks on your campus although it is important to build credit if you're trying to finance a car or get an apartment waiting till you graduate college and having a monthly income is most likely the best decision for most students it's important to realize that credit cards are not free money whenever you spend on a credit card you will need to pay off at the end of the month the difference between a debit card and a credit card is that with a credit card you are billed at the end of the month for your spending whereas a debit card is linked to your checking account and the money comes out immediately if you use your credit cards and maybe buy a meal each month and you always pay it off then awesome you'll build credit and won't gather any fees or interest payments but many students go overboard since they don't have to pay the money back immediately tip number 4 is to not buy new textbooks and ideally don't buy it from a University's bookstore you should always rent buy used bar from a friend or find a free PDF version you can save hundreds of dollars each quarter or semester simply by renting or purchasing used textbooks which can add up to at least a thousand if not more in savings over the course of your college career just to show you an example I looked up a book called fundamentals of engineering thermodynamics a required book for mechanical engineering students at the University Bookstore I checked out it was $200 to buy used and 228 to buy new that same book sells used for 150 on Amazon and you can rent it on Amazon for $50 there's also Chegg which is a popular site to rent books a website I personally used with slug books comm all you do is type in the book you want to look up and it lists up a bunch of different websites and tells you the prices of the book at all of them and whether it's to rent it or to buy it in addition to buying used textbooks you should always wait to buy the book until you attend the first class session to see if you actually need the textbook first week of every quarter or semester is primarily used for taking attendance and going over the syllabus and with services like Amazon and Chegg they can get you a textbook in two days there's really no need to buy the textbook ahead of time unless the professor specifically tells you there will be homework due in the first week of the term lastly if you think you will very rarely need the textbook and don't want to rent or buy the book your library should have a couple copies on reserve however it is important to know that come midterms and finals week you and your classmates might be competing to check out the same book number five is to learn financial literacy begin investing in yourself and start learning the basics of financial literacy the best way to do this is through personal finance books and podcast reading for recreation is often a challenge during the school year because of the volume of reading assignments homework papers and labs so an alternative is listening to books on audible or listen to podcasts while you are walking in a class start educating yourself on the basic retirement accounts like an IRA and a 401k when I started my first job as an engineer the second day I just set up my 401k once I got to the page I needed it gave me options to invest in small cap stocks large cap stocks bond international equities and more and my boss as well as yours will not explain this to you it's all on you luckily there's often an option for you to set a year you will likely retire so for those starting out it might be a 40 year plan and they invest the money for you but if you have more experience in this then you can control where your investments go and I don't know about everyone else as an engineer no class I ever took taught me about investing stocks or bonds but luckily I taught myself a little about this before graduating if not I would have had no idea what any of these terms meant you should learn the difference between a Roth and a traditional IRA or 401k and possibly start investing when you come across some extra cash the most important part is you know the basics of financial literacy you are ready for when you graduate college three books that I found helpful and understanding the basics of personal finance include I will teach you to be rich the Total Money Makeover and money master the game just by reading these books you will pick up the basics and be prepared to be financially responsible for when you graduate college and last is to understand your student loans when planning your spending plan you want to look at how much money you will need for school one huge mistake students make is that they take out more student loans than they actually need unlike any other loan student loans stay with you forever until they are paid off you cannot declare bankruptcy on them and make them go away like you could a car loan it's important to look into which loans you qualify for know the interest rates and always know the principle balance you owe let's break this down if you have student loans at 7% interest per year and have to pay them off in 10 years here's what your monthly payments would look like and just remember how much your interest increases the total you'll pay over the 10 years so for example if you take out $40,000 in loans at 7% at the monthly payment over 10 years you'll pay fifty five thousand six hundred and eighty dollars that means you pay 39 percent more than what you took out seven percent didn't seem so bad but it's more than you probably think and look at this if you can manage to take out 30k instead and pay it off over ten years you'll pay a total of about $42,000 so look at that by taking out ten thousand dollars less than student loans you spend over thirteen thousand dollars less over the ten years so you see every scholarship every early payment taking that are a job for free room and board or renting the textbooks will seriously help to saving X amount on loans now really means you're saving more later on and just a disclaimer know that there are different types of loans out there and you will likely have many with different interest rates so make sure you know what applies to you in addition students should not take out more student loans than their projected first year annual income when you get to college is a good idea to go to your financial aid center at your school at least one to two times a year so you can stay up-to-date on information about your student loans grants you might be eligible for and scholarships if you are getting student loans you will need to apply for FAFSA every year and lastly it's important to know who your loan provider is what type of loans you're receiving and how much you are taking out every quarter or semester in conclusion it's crucial for students to implement good spending behaviors early no one is going to learn personal finance for you start with these financial tips and grow from here and as a final tip one thing that gets overlooked by young people because retirement feels so far away is that they don't start saving as soon as possible remember if you put $1,000 into a retirement account at 20 years old it will be worth around fifteen thousand dollars that retirement if the market does well doesn't seem like a lot but starting early allows that compounding interest to happen even faster this will be covered extensively in the personal finance books listed before but it is never too early to set aside money for your retirement we live in a time where retirement age is being pushed back and where social security pensions will be a thing of the past the simplest approach to personal finance and savings for retirement is using the 80/20 rule using 80% of your earnings on your bills and expenses then 10% for long term savings and 10% on yourself if you liked this video don't forget to Like and subscribe and I'll see you all next time you

7 Simple Tips to Save Money on a Low Income

**7 Simple Tips to Save Money on a Low Income**



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If you want to know how you can still save money when you have a low income, this video will give you some simple steps to save more and meet your savings goals!

After being a student for the last 4 years and not being able to earn much, I have still been able to save a significant amount of money through these tips.

0:35 Tip 1: Have a strong why – there needs to be a reason why you are saving money in the first place. Without a clear and compelling why, you will struggle to meet your goals. Having a why will make it a more fulfilling and personal savings journey.

1:50 Tip 2: Recognise it is not what you earn but what you keep that matters – many people get this mixed up. They think you have to have a high income in order to save and invest a lot of money. But your wealth is determined by your financial decisions not your income, so it is completely possible to save and invest significant amounts of money on a low income. You just have to be smart!

2:13 Tip 3: Have a goal – this is important as if you do not know what you want to achieve, then you will not get anywhere. Make it very clear how much you want to save and by when!

2:36 Tip 4: Have a plan – from your goal you can then work out a plan. How much money will you need to save each week to meet your goal?

3:03 Tip 5: Minimise your expenses – there is a good chance that you have a number of unnecessary expenses. If not, have a look at your current expenses to see where you can cut down (loans, insurance, fuel, food). Remember that a dollar saved is a dollar earned!

3:36 Tip 6: Increase your income – is there a way that you can start to earn a little bit more each week? Remember that if you can decrease your expenses by $50 a week, and increase your income by $50 a week, you can save over 5 thousand dollars in a year. Imagine what you could do if you increased these numbers!!

4:14 Tip 7: Still find a way to give – I think this is the most important tip. When we are desperately trying to meet our savings goals, we often forget that others need our generosity. Despite what you might think, this could actually help you meet your savings goals. When you give money away, you get the sense that you are someone WITH MONEY. By giving, you not only help others but you start to feel like someone who is in the financial position to give! This is such a powerful wealth hack!

Good luck implementing these tips, I hope they have helped!

MY FAVOURITE INVESTING BOOKS:

A Random Walk Down Wall Street by Burton Malkiel:

Rich Dad’s Guide to Investing:

Rich Dad’s Retire Young and Retire Rich:

Rich Dad Poor Dad:

Rich Dad’s Cashflow Quadrant:

The Richest Man in Babylon:

MY FAVOURITE SELF DEVELOPMENT BOOKS:

The Power of Now by Eckhart Tolle:

The 7 Habits of Highly Effective People:

everyone has daemon here today I'm going to be sharing with you seven tips that are going to help you save a little bit more money when you're on a low income if you have a low income or you're just finding it a little bit hard to save money this video is really going to help you out if you aren't on quite a high income then it can be more challenging to put away money every week however that's no excuse and it just means you take your finances even more seriously the last four years I've been a student so I haven't been working full time so I know exactly what it's like to try and save money when you aren't on a high salary if you want to learn more about finance and investing please consider subscribing to the channel and make sure you hit the notification bell also remember to like and comment on the video it does help out with the algorithm and I really appreciate hearing your thoughts on the video the first tip is to have a strong wire I've talked about this in another video but it's absolutely crucial in order to meet your saving and investing goals there are many ways to make money but there are really only a few personal reasons that matter to you so it's really important to tap into your wire to help motivate you throughout the saving process and it's makes it so much more enjoyable and fulfilling so you need a crystal clear about why you're actually trying to save money in the first place if you don't get clear on this then you're just going to blow out the next opportunity so are you saving for a car a new laptop a holiday or are you saving to invest just a word of warning here that you need to look at your finances very carefully and think what is going to be the most appropriate wire for me right now for instance if you have absolutely no money invested and you have no investment plan it might be a good start to actually work towards that rather than just save $5,000 throughout the year to then go and spend on a fancy holiday because at the end of the day when you go on that holiday you're not owning any money and you're also back at square one the same thing could be said for a car you don't really want to save up throughout a whole year to then just go and spend it on something that's going to go down in value it might be better to save $5,000 and then invest that money I strongly believe that people end up in poor financial situations either because they have an income problem or an expense problem or even worse they have both so if you are not really so low income then you need to make sure that your expenses are wise expenses the second tip is to recognize that it's what you keep that matters it doesn't matter if you're in 20,000 a year or 200,000 a year if you don't end up putting any money away or investing any money then you're not getting ahead financially so someone on a very low income can in a better financial position than someone on a very high income if they make smart financial decisions and choose to keep that money it's an empowering thing knowing that it's not what you earn that matters it's what you do with what you the third tip is to set a savings goal how much money do you want to have saved or invested by what day and then from that you can back that and work out how much money you need to save each week it's important that you set a goal so you have something to strive towards for instance if you've worked out that you want to save $2,600 you need to put away $50 every week for the next year that way you'll know that if you're not putting $50 away each week you're falling behind on your goal the fourth tip which can then build off of tip 3 is to have a plan calculate how much money you're earning each week and then take away all your expenses also take away the amount of money that you want to save each week then whatever's left over you can spend guilt-free this is a really great tactic to use because if you prioritize saving first and have some money left over to spend on yourself then you'll actually spend that money guilt-free knowing that you put some money in the bank is so powerful because it encourages you to spend money without feeling bad and it reinforces that money isn't a problem for you the fifth tip is to minimize expenses you need to be really critical here and think about all your expenses and how you can minimize those is there some sort of membership that you can cancel because you're not using it is there a loan interest rate that you can negotiate on are you spending a little bit too much money on food would you be able to organize something like a car pool so you save money on fuel are you paying a little bit too much for an insurance policy and you can actually shop around and get a better deal somewhere else can you change your living situation so that instead of paying $150 a week in rent you're only paying $100 or $50 all these little things add up and it's important to be on top of all of them the sixth tip is to increase your income by minimizing your expenses and increasing your income you'll be surprised by how much money you can actually start saving is there some way that you can make an extra $50 a week maybe you can start mowing the neighbor's lawn doing some gardening at someone's house maybe there's a certain skill that you have that you could start charging for there's some things collecting dust in your house that you could sell could you even sell your car and then buy a cheaper one if you're currently putting away $50 a week and you boost your income to be able to earn an extra $50 a week all of a sudden that $2,600 at the end of the year doubles to become 5.2 grand or is it possible you could even go for a new job or ask for a pay rise so the seventh tip and I think this is the most important one is to still find a way to give what often happens when people are trying to save money is that they'll ignore giving away money to others and I'll justify this by saying things like oh it's okay I'll do that when I have a little bit more money but the truth is if you're not getting into the habit of giving money away now then you probably never will there's so many great psychological reasons why giving money away is beneficial and it goes beyond the scope of this video but one reason is that it reinforces that money is abundant if you never give money away and you just hold on to all the time it suggests that money is scarce you reinforced yourself that money is something that is hard to come by but if you give money away to others it reinforces that money is no problem for you you are easily able to make that money back it suggests that money is easy to come by for you that it flows to you you also start to feel a little bit more wealthy yourself when you do this because you think about yourself as someone who can afford to give to others generously without it having a huge impact on your financial welfare not to mention of course the money that you give away will be used for great purposes like charity I'm oli not talking about giving money to your friends willy-nilly I'm talking about donating to worthwhile causes so what I've actually started doing in a journal is writing down a little give list and every time I donate money I put it in there and at the end of you I can calculate how much money I've actually given away and that can really make me feel good about myself and my financial position what I've noticed since I've started doing this is that I actually feel like a more wealthy person not only that though I feel like I have this responsibility now to give to others I can look back on how much money I've given in 2019 and then in 2020 I'm going to try and give more money away thanks so much for watching I really hope these tips have helped you out if you made it this far please go down to the comments section and let me know if you have any great tips on how to save more money remember subscribe to the channel and I'll see you in the next video

College Monthly Budget | How much Money ?  | LPU budget | Financial tips | Giveaway ?

**College Monthly Budget | How much Money ? | LPU budget | Financial tips | Giveaway ?**



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10 Money Saving Food Shopping Tips | Unite Students

**10 Money Saving Food Shopping Tips | Unite Students**



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Hi everyone! Whether you are in university and living on a student budget, or just graduated and trying to pay off your student debt: saving a few pennies on groceries each week will end up saving you a lot of money!
Today I will be sharing 10 tips on how to save money on grocery shopping. I hope you enjoy it! If you have any more questions or have other tips you want to share, please leave a comment below.

More about me: My name is Laurie and I am a master’s student at the University of Stirling. On my own channel I make weekly vlogs about my (student) life and anything else that interests me. Subscribe to my channel here:

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hi everyone welcome back to this channel hope you're doing well we're we one of the last fun tasks have been somewhat of an adult is doing your groceries there's my mum and dad's hold it for you say we have to do it ourselves and today I'm going to give you ten tips on how to save some money onto your groceries and just generally tips on how to do your groceries or a student budget the first tip is to plan ahead if you just go to shops and you don't know what you need you gotta buy things or you have or things you can't really use yet or things my expiry quickly so before you go to shops make a list of what you actually need go through your cupboards see what you still have see what's running out date and see what kind of four meals you can do with that and also kind of meal plan for the week as well if you can just write anything care of what you're gonna need and make a little list before you actually go to jobs also if this comes at you may want to look at what's on sale as well and then try and work from there but don't fool yourself because sometimes shops try mislead you with their three for two pounds or whatever whilst the actual product is a lot cheaper than whatever add up so don't fool yourself and be smart or you look at the sales as well my second tip is to only do groceries once a week because if you do little shops every single day or if you go to a little shop on campus or something you will end up spending so much more money so I only do a big shop once a week and also try and go to an actual shop and don't order mine because that save you money as well my third tip is if your flatmates trying to see if you can organize that you do your groceries together and then your share your food as well so for example dinners and stuff you can do together and so you'll save yourself the money because you can just split the cost of the groceries and it will last pretty much just as long plus it's a lot more fun as well then know where to shop overall I think Aldi and Lidl are places where things are generally cheapest if you can parity shops like Marks and Spencers your feeling to be a lot cheaper at Aldi so try and find out where things are cheapest but you can also do is see what products you buy the most of so for example milk or eggs and toast and try and find out where those things are the cheapest just do little round around different shops and see where it's actually cheapest and then to skip your stop there another thing to keep in mind is to look at the price for the amount you get so the amount of kilograms ëletís you get for a certain price rather than the actual price because sometimes something might seem a bit more expensive but then when you look at how much it's actually in the product it works out cheaper so definitely look at those little price tags usually they have on air how much it is per hundred kilograms or something so definitely look at those little price tags that tell you I think this might be quite well known but eat before you go grocery shopping or bring mints or something because if you're hungry you're most likely to buy more food today actually meat because everything will look good and supermarkets will trick you with nice smelling breads and all of that so either eat well before you go and bring means to Train like cancel out nice smells of bread that might help you spend less money the next step is to buy a bit more than you actually need it might sound weird up to my previous tip but what I mean is if you buy for example chicken and it's usually better to buy them in bulk and then just freeze them set from being little freezer bags because if you buy much more in one go or if you buy when they're on sale and you freeze them they'll last you a long time and you save a bit of money also it's just convenient to have a little stash of food in case you run out and you have to improvise and then you have some chicken and veg and an easy pasta is made another thing that might save you some money is to cut down on meat because meat is very very expensive if you don't mind it's good for the environment I'm not vegetarian but it's good for the environment it's good for your animals as well so if you don't mind to cut down on meat a little bit or just cut it out completely that's up to you but that will save you some money and also a clever trick of supermarkets is to put all the veg and fruit in the beginning of the shop because then you won't actually feel that guilty when you buy more crap afterwards because you won't pass the fruit anymore that's all beekeeping might as well another thing that will save you some money is to buy individual spices and make your own mixes run them by the mix spices in a little bags I know it might seem quite intimidating if you don't know how to make burritos or and if you like that but don't buy those packs maybe sometimes it works out cheaper if you buy a box but definitely for the spices itself just by individual spikes because they will last you a long long time we don't actually need that much so just buy them individually and that will save you some money as well and last but not least rain look beyond your eye level a little groans pay the shop to have them put the brand right in front of your eyes yes they were more likely to buy it but if you look a bit further and look at the prices may be there for value brands you might save a bit of money as well there might be as is its point but if you just take your time the first time you go shopping you'll know for the next time and it won't actually take you that long and that way you will save money as well so these are all the tips I have for you today if you like this video please give it a thumbs up and if you haven't subscribed already please do I know it's CC okay

How to save money in my own way - Simple Tips - in Kannada

**How to save money in my own way – Simple Tips – in Kannada**



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Hi Friends, I am kavya, In my today’s Video i am sharing my own way how i started my savings from the age of maturity which will help you to start your small …