Here are some ways on how to live on a tight budget while in college.
Making it possible to live on a tight budget
What this pandemic has taught us is that saving for the future is an important thing. During this pandemic, a lot of jobs were lost, businesses forced to close, and hungry people all around the world. This is a time where we talk to ourselves, what if? What if I didn’t spend extra on leisure? What if I didn’t pay for expensive things that not that useful? What if I set aside some of my earnings for safe-keeping for times of financial emergencies? Luckily, the economy is slowly getting back on its feet and workers are slowly getting their jobs back and businesses are starting to resume normalcy.
From a college student’s point of view, the pandemic has made a real twist on how a typical student must spend and live on a tight budget. With the pandemic, strict guidelines such as no large crowd gatherings mean less partying, less hanging out with friends and less spending on leisure activities. On the other hand, in some colleges where online learning is the primary mode of learning, students have to purchase new gadgets adaptable to virtual learning.
How to budget during college?
Choosing the right laptop. Since the majority of the colleges nowadays are into online learning, a laptop is now a must. One thing to keep in mind in choosing a laptop is its functionality for future use. We highly recommend investing in a laptop with at least an Intel i3 4th generation processor or the equal. Going for something with lower specs will not assure you longevity of usage and tend to be laggy within a few month’s use.
Reference books. Books take away a chunk of a student’s college budget. Accessing the library is still the best way to get rid of these extra expenses, however, there are some other alternatives that can also work. Amazon offers a Prime student service that allows students to access online material for free up to six months of subscription, on top is a 10 percent discount on books sold in Amazon. You can also scavenge hunt for used books on some bookshops to help lessen the cost instead of buying the brand new ones.
Choosing the right bank. Having to live on a tight budget doesn’t always mean you can live up to your set budget. There are certain instances that you do opt to borrow certain amounts to help you out. There are banks that offer special loans to students. Just have to make sure that you get the lowest interest rate possible and a good-paying term contract.
However, the best thing to do really is to live on a tight budget and find other sources of income such as part-time jobs. This way, you will not be tempted to spend more than what you have and stick to your tight budget.