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For college students around the country, it can be difficult to figure out how to create and follow a budget that works best for them, especially if they are attempting to do so for the first time in their lives. If you are in college and find yourself struggling to save money and falling victim to your own out-of-control spending habits, you aren’t alone! Learning to budget can be tough, but doing so as a young college student isn’t impossible. Keep reading to learn some simple college-friendly budgeting tips that can help you grow your savings, spend more wisely, and eliminate unnecessary financial anxiety.
Use a Helpful App
Budgeting can be difficult, especially when you aren’t sure how much money you should be putting into savings, spending on bills and necessary expenses like groceries, and leaving in your account to spend freely. When you’re in college, you are more likely to have a lot on your plate, and it can be difficult to think about budgeting in the midst of schoolwork, extracurricular activities, and more. Getting a free budgeting app like Mint or Acorn can help take the guesswork out of budgeting, and allow you to set aside money for everything from monthly rent to necessary procedures at The Bunion Cure without having to think about it.
Take Cash on the Go
If you struggle with impulse spending, it can be fairly easy to swipe your debit card and make unnecessary purchases without a second thought whenever you have the opportunity. A simple way to put a stop to unnecessary spending is to take cash with you when going shopping or going out for food or drinks that can help make it a little harder to part with your money. When carrying cash, you have a finite amount of money you are able to spend, and have to be more mindful of the amount you are spending in a way that is different from simply swiping your card.
Talk to a Financial Advisor
If you are finding yourself unable to stick to a strict budget or can’t seem to get a handle on your spending, it might be a good idea to schedule an appointment with a financial advisor. Talking to a professional at your local bank or even in your college’s advising office can help put your spending habits into perspective, and a professional advisor can work with you to create a realistic budget that you can stick to in your daily life.
