How to Be in College, and a Sorority, and Still Save a Buck!

If you know me at all, you know that I try my absolute hardest to be as thrifty as possible. In other words, I like to save my money anywhere I possibly can. Don't get me wrong, I like to shop. I should really say, I LOVE to shop. I think its genetic, this love of shopping. Being a college student isn't easy, especially when you're funding your education by yourself...costs that include room and board, books and sorority dues. I got lucky this year with being an RA - an opportunity that is both helping me grow and also helping me fund my education (i.e., room and board). Books were affordable with some help from my family. Sorority dues aren't bad either; $65 a month shouldn't be a big deal, and honestly, its really not a big deal at all! But here's where they get me: t-shirts, becoming a big (for the second time in a row...its just so gratifying!), t-shirts again, sisterhood dinners... all of these amazing extra things that are part of being in a sorority that just happen to cost extra money. So, if you're really struggling to manage your school-related budget and your extracurricular-related budget, here are some tips that have helped be to be in college, and a sorority, and still save a buck.

1.) The most important thing you can do when you become a legal adult (in Ohio 18, Alabama 19) is to open a checking and savings account. In case you didn't know, checking accounts are used for regular spending and bill pay and savings accounts are used for, well, savings. Just in case an unexpected expense comes up, or you just want to save your money (you are so smart).

2.) After you open your checking and savings accounts, sign up for your bank's online banking program. This way, you can constantly keep an eye on your accounts. I probably check mine every other day.

3.) If (and when) you get a job try to put 50-65% of your paycheck into your savings. If you cannot put a certain percentage of your paycheck into your account then make sure you account for your upcoming bills, and whatever spending money you may need throughout the month before you do this. That way, you don't need to transfer money back and forth between your accounts. I developed a BAD habit of transferring money instead of budgeting. It's hard to stop once you start, so make sure you start out the right way! Here's an example:

Monthly Paycheck: $400
Monthly College Payment: $150
Monthly Extracurricular Bill: $65
Bi-Weekly Grocery Costs: $50 ($100/month)

So... That gives you $265 already accounted for. That money is going straight to bills and living expenses. Then, a reasonable amount of spending money for the month for things that are just fun (t-shirts, clothes, shoes, accessories, eating out, birthday gift for a friend) could be about $30. Leaving a final amount of $105 to put in your savings account. After one year of budgeting like this, you will have $1,260 saved up! Here comes the hard part about this budget. It doesn't allow for much wiggle room.

4.) If you're serious about sticking to your budget, you have to realize you can't buy every t-shirt, milkshake or go out to dinner so often. This means that you maybe only buy one super-cute t-shirt from an event that you were involved with directly, and you only go out to eat once in two weeks instead of 4 times.

5.) If you have to get a gift for someone, use what you've got! Nothing beats a thoughtful, genuine homemade gift. Plus, it'll save you some major money! Craft supplies aren't cheap, but if you use your spending money to gradually get a good collection of supplies, you can make some pretty cool things.

I purchased this picture frame for $0.25 at a yard sale, painted it, and painted the quote using some paint and scrapbook paper that I already had laying around. The stickers were 40% off at Hobby Lobby.

6.) Try with all your might to buy things on clearance or on sale! 30% off is a great starting point, but always try to go above and beyond that. You never know what you can find on the clearance rack!

Wooden letters: each letter 50% off. Spray paint was on clearance for $5.48! 

7.) Use coupons when you can, especially if it's something you need! Try the RetailMeNot app, it's fully customizable for your favorite stores, and will notify you when there are deals going on in your
area!

With a little patience, a little bit of twine, some plastic flower buttons and stickers and a hot glue gun, you can make some pretty sweet gifts!

8.) Don't give up! Budgeting money is not hard, and you have to start small. For many college students, this is the first time that they've been in charge of their own money. To quote Uncle Ben, "With great power, comes great responsibility." Make smart choices, and think before you swipe that card! I BELIEVE IN YOU!


The more you know...the more bucks you can save!

Stay Savvy!