How to Stop Spending Money

I remember the time when I was still a student. I was young, optimistic and didn’t have too much things to worry about. Nowadays, money is a primary concern even for students. This need not be the case if you have the self-discipline. Here are a few things I tried out in the past that might help you struggling students out there.

1) Bring lunch to school
This is an easy task to do. You may brown bag it to school with a sandwich so you won’t need to spend your money on food.

2) Borrow books from class friends in school
If you have friends from those ahead of you in school, you may be able to borrow text books instead of buying new ones. This takes some social skills as well so you have to join organizations that will expose you to different people.

3) Hand me down clothes are great
If you have relatives who give clothes to you that is better instead of buying a wardrobe for college. An older sister might already be working and gives you a lot of used but nice clothes. Accept these in the meantime. When you are working already, that is the time you can also buy brand new clothes of your own.

4) Join a carpool
instead of spending your money for transportation going to school join a carpool with your friends. This is good if you have a good friend that lives nearby who picks up other friends as well. You may decide to chip in money for gas on a rotation basis but this will still come out cheaper in the long run.

5) Don’t get a credit card
Don’t get a credit card if you cannot manage credit cards. Even when you are being offered by providers to get one. This will just be a bad temptation and you are still not earning money. You will have time to get one once you graduate and you already have work.

6) Have a savings account
Put the money that you have extra from your allowance in a savings account. This way, if you need money to buy things that you need for school, you have the emergency funds to draw from.

7) Avoid going to the mall alone
This will make you spend your allowance on impulse. If you have a friend with you, your friend can control your natural desire to buy things and advise you if you really need to purchase anything. Window shopping is also more fun with a friend.

These are just some things that helped me during my student days. I am now working and earning good money. I can say without regret that not spending during those days have instilled in me a great discipline. I am saving money now and the good habits that I learned during my student days are still with me until now. I hope you learned something from this and may you have the self-discipline to study well and to avoid spending money unnecessarily.

 

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