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5 Ways College Students Throw Money Away And How To Avoid Doing The Same Thing

Nov 30, 2013

Unless you're really lucky you won't have much money when you're at college. A lot of people are in the same boat though you'd never know it by watching them spend all the time. If you want to save money while you're studying there are plenty of ways to do it. Most people spend their money needlessly anyway and we're going to look at how they could cut unnecessary spending out.

Not cooking your own meals


Do you have any idea how much money you'll waste if you eat out all the time? Even grabbing a sandwich for lunch every day adds up and at the end of the month a few hundred dollars will be missing from your bank account. Try to cook things like stews, curries, and pasta dishes in a giant pot and once you're finished you can split the food into different containers that can be heated up every day. You can also learn to carry coffee around in a thermos flask instead of buying it from Starbucks.

Take advantage of free nights


Every college student loves a good party, but you can be smart about the nights you choose to go out. If you head to big clubs at the weekend you will pay a lot more than if you went out through the week. That is because you'll miss the student nights where you can pick up great deals on drinks. There will also be a lot of free nights in your city and you should take advantage of them when possible. If you want to spend a lot of money on a night out it shouldn't be a regular thing.

Student discounts can be evil


When you need to buy something student discounts are great because you will save a lot of money, but that doesn't mean you're always getting a good deal. If you don't really need something you're not saving any money so don't forget that. It's easy to keep spending your money on goodies because you get an adrenaline rush every time you buy something new, but a few months down the line you'll regret it when you don't have any money to buy something important.

Wasted memberships


Recurring memberships aren't necessarily a bad thing if you can afford them, but sometimes it's nice when you don't have money coming out of your account every month. How many people spend hundreds of dollars on a gym membership only to go a few times per month? It's the same with sports clubs and online membership sites too. If you do decide to join one you have to make sure you get your money's worth otherwise you will regret wasting so much.

Fancy new gadgets


A few years ago you wouldn't have seen many gadgets floating around, but now they are everywhere and young people seem to think they need to buy everything in sight. The world will not end if you don't have the latest iPad or iPhone. Some gadgets will come in very handy and you will use them every day, but anything else should be left well alone until you have plenty of money coming it. You don't want to spend your entire life playing with gadgets anyway.

Having money is great


Instead of running out and spending money all the time you should be thankful you have it sitting in your bank account. There will come a time when you need it for something important. Starting your own business is more worthwhile than peeing your money up against a wall, but you will need savings in the bank should you ever wish to do something like that.

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