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Tips for Saving up for Your College Budget Plan

esther.diaz July 29, 2018

College life can be a fun and memorable time for you, but it can also be the most stressful. You’re going to struggle with lots of things with money being one of them. If you’re not well off and you don’t get into a scholarship, money’s going to be really tight. That’s the case for most colleges and universities and it doesn’t matter if it’s an educational institution under the government or a fancy international college in the Philippines.

It’d be great to get some kind of financial support, but not everyone has the opportunity or luxury to. And even if you do, at some point you’re going to have to start learning how to save money for yourself, so why not start now? We’ll be listing down some tips for saving up for your college budget plan in this article. Hopefully these tips help ease your finances and teach you how to save every centavo that comes your way.

Track Your Expenses

There are many ways to track your expenses. You can do it the old-fashioned way with a pen and a ledger or using Excel and spreadsheets. You can also go for a more modern way by downloading apps that allow you to plan your budget and record all your transactions. These apps can be accessed using your phone or your computer, so your budget plan is always with you wherever you go.

The benefit of tracking your expenses is you’ll know when you can cut-back or spend more. You might find that you’re spending too much on transportation and not enough on food – things like that. This will certainly help you balance your expenses in the long run, and it’s also a good habit to have when you’re older and have a stable job.

Buy and Sell Books

During your college years, you are going to spend a lot of money on books. And by a lot, we really mean a lot. Depending on the course your taking, your books may be priced in the thousands. What’s worse is that you absolutely need them in order to pass, so you really don’t have a choice but to cough up the greens.

Fortunately, there are some stores and kind students that will sell their books for a lot less than their original price. Buying from these people will allow you to save money that you can then allocate somewhere else. Moreover, you can also sell these books after you’ve used them so you have money to buy the ones necessary for the next academic year.

Always Look for Discounts

When you’re a college student that’s on a tight budget, you always have to look for discounts. Look for establishments and businesses that offer discounts for students and watch out for mall sales and the like. You should also consider buying your necessities in bulk as that is more cost-efficient.

Moreover, take advantage of the student discounts in public transportation. It may only shed a little from your daily expenses, but you’ll see later on that they actually accumulate to a significant amount.

Only Purchase What You Need

It’s important to know your wants from your needs and to always prioritize the latter. As much as you want to indulge in new shoes and clothes, you have to pick your battles. Would you buy an expensive dress in exchange for a week’s worth of food? Okay, some of you may say yes to this, but that isn’t practical. Your necessities should always come first – food, water, transportation, supplies, and the like.

Don’t get us wrong, though. We aren’t telling you to deprive yourself of the things you love. We’re merely suggesting that you cut back on them. If you see that there’s room for a fancy night out or a new pair of shoes, then go for it. But if you have to sacrifice you well-being for these things, then maybe reconsider.

Key Takeaway

Getting into universities and international colleges in the Philippines is hard enough as it is, but it becomes a lot harder when you have to struggle with your finances. Although there are a lot of inspiring success stories out there about people who survived these significant years with not more than a few thousands in their wallets, actually living through it isn’t exactly easy.

It requires hard work and sacrifice – things some people are not really prepared to offer. That said, these inspiring stories we hear actually do help. They tell us that it’s possible. No matter how tight the budget is, there’s always a way to power through life. They may not be using the tips given here, but we hope you find what we’ve listed useful and helpful!

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