WHY AM I SO POOR?
If there were a world championship for spending unnecessary money, I’d probably take home the gold… but I bet most of you would make me fight hard for the title!
It’s so easy to buy stuff, especially if you have a credit card! Those pieces of plastic totally separate you from the exchange of money, so it doesn’t even feel like you’re spending anything. Bad!
Budgeting is really important for students, and it’s something I’ve only recently gotten into in my third year. Plan out how much per week you should spend on food, entertainment, bills, etc., and try not to exceed it! By setting up a plan for your spending, you will minimise the risks of shopping sprees, and running up debt. Once you’ve got your budget (or if you can’t be bothered preparing one), here are some suggestions for how to spend less money:
Don’t take your bank card to the bar – this is a big one for some of my friends, who find it easy to withdraw endless money from an ATM for booze. So, just take $50 out on the town. When it’s done, so are you!
Don’t eat out often – instead of eating out all the time, make sure home-cooked meals are the main part of your diet. Raw ingredients from the supermarket are cheaper than restaurant food!
Buy home brand – with a few exceptions, supermarket-brand products are a great alternative to expensive brand-name products, and maximising your home brand purchases can make a massive difference to your spending. I’m a huge fan of supermarket-brand!
Look for things you can eliminate in your spending – this goes along with making a budget, but you’ll probably find that you are regularly buying things that you just don’t need! Perhaps a gym membership, digital TV, expensive internet, monthly public transport tickets, or even just buying a can of soft drink every week from a vending machine. Think intelligently about these things, work out if you really use them, and consider alternatives.
Hopefully some of these tips have taught you how to stop spending money! Selling your stuff on Gumtree and eBay is also a great way to get a bit of money back from old things you don’t use.