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Ditch the ramen diet: 4 financial tips for thrifty college students

May 23, 2023 by Louisiana FCU


Who says you can't save money as a student? 

Stashing cash while in college might seem like a mission impossible, right? Let's face it, between buying heaps of textbooks and paying those hefty tuition fees, it feels like your wallet is on a diet. Sure, scholarships help, but they can't cover everything. Eventually, you'll need to dip into your own funds. Don't worry, though! Here are some easy, fun tips to help you save some dollars and keep your savings account happy.

Limit how much you eat out. 

Buy groceries and create a meal plan for the week. Chances are you will get a healthier meal and have more money in your pocket.

Be mindful of the small purchases. 

That $5 cup of coffee adds up quickly. One coffee at $5 a day for five days a week is $25 a week, $100 a month, and $1200 per year. Skip the fancy brew and take a fun trip on your semester break!

Use a budget tracker. 

With today's technology, one statement remains true: "There's an app for that". I personally use Mint. It tracks your spending habits by category and shows you exactly where your money is going.

Set a goal. 

When I was in college, I wanted to have my dream car. It seemed as if everyone except me had theirs and I was still using a hand-me-down family vehicle. So, I saved $60 a paycheck along with the extra money I saved from skipping fast-food and early morning coffee and made a nice down payment on my car which got me an affordable note.

The struggle is real, but the habits you develop now will set the pace for your future.