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13 Top tips to Survive college on a Limited budget

Jan 17, 2013

After one completes school and enters into college, the real feel would be “I have grown up”. But, the real challenge is when you start surviving on your own. Money given by parents or earned through an internship can be a good source but managing expenses within limited budget is not as easy as it sounds. But hey, don’t worry, you can try following these 13 tips to survival and also have fun whilst in college:

1. Create a budget and manage your expenses according to the budget. House rent (if you are staying away from home), food bills, fuel costs and all other costs should be included in your budget. Be thrifty with your spending. Procure only important items that are really necessary.

2. Occasional lunch or dinner outside can be good but cooking with a date or bringing friends and cooking yourself can save lots of bucks; it may not cost you more at all.

3. Ask your friend to share the meal cost if you are going out together or in groups; sharing always makes costs less.

4. You can buy things from a grocery store that puts a sale or sells for less, of course don’t compromise on the quality.

5. If you are going out, try using free space or park your car at a friend’s place to save some money.

6. Taking a public transport can often be cheap and also the best way to know more places you haven’t been before.

7. Use the Online banking facility to track your bank account spending on a regular basis. It is advisable to check such accounts at definite intervals to know how much you spent and how much is left.

8. See that you don’t use laundry more frequently (no point if you are changing clothes 4 times a day); you can save some coins from that too.

9. While buying new clothes try to get in from a resale or a discount sale; these will be less than your usual bill.

10. Shopping from departmental stores instead of boutiques or chain stores too can be a good purchase as you can get things for less cost.

11. Part-time jobs can be a good option for earning some extra money. Various restaurant chains offer part-time jobs to students. Alternately, you can also try the option of home tuition to children studying in lower standards.

12. Keep your credit card usage to the minimum. Avoid its usage for any and every reason. This can reduce your credit card bills as well as interest incurred by its usage, which can save you much money, that can be used for other essential purposes.

13. Pay your bills on time. Many people, usually students forget about their bill payment time and spend more by way of interest piled up due to late payments. Sometimes, you may not have the required money to pay your bills, at such times you can take a payday loan for repaying them.

About the Guest Author:
My name is Katie. I am a tech writer from UK. I am into Finance. Catch me @financeport

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