If you are a New Jersey college student, you likely already understand the lack of money that is available to you while in school. Unless you have a well-paying part-time job and can manage all of your classes, money is going to be tight and you should learn how to save. Let’s also assume your father is not Donald Trump who can fill your account every time you need it.
Do you know…?
Are you aware of what you make on a weekly basis and exactly what you spend? For two weeks you should track every dollar you make and spend. New Jersey is expensive so do not be surprised if it is a large number. It is important to understand your finances so you can gain full control of what comes in and what goes out. You want to try and save at least some money in case of an emergency so figure out your earnings and then see where you can cut your spending. Seeing where your money goes in the first step to avoiding the unnecessary spending in the future. Once you gain control of your finances you can gain control of how quickly it goes out the door.
Anyone who was a college student knows how much fun it is to spend, spend, spend, but this is not practical for students who do not have an endless supply of cash. Whatever you are currently spending; cut back even though that could still equal quite a bit if you reside in New Jersey. Sure, who doesn’t want to go to the movies, go out to eat, grab some drinks with friends, and have a blast? All of this costs money, but it does not mean you can no longer spend time with your friends. Chances are they are in just as much of a financial bind as you are so come up with ideas that include your friends but exclude as much money as possible. Have friends bring over movies and food so everyone can share the cost. Wait for movies to come out on DVD and buy it for a discount online. Take care of your clothes so they last a long time. Cook at home, walk where you can to avoid paying for gas, and use less of your products to make them last longer. Whatever it takes to save a buck, do so and your savings account will thank you.