When it comes to being in college most people would agree having money is almost essential.
Not only do students wish to have as much money as possible for social activities and such, but it is also important to practice good spending habits in preparation for the future as well as to keep from going broke in the present.
Unfortunately, trying to keep a healthy bank account and control spending is much easier said than done.
According to a 2014 survey conducted by entertainment company Study Breaks College Media, out of 500-plus students about 66 percent spend $1,200 or more a year on entertainment services like bars, restaurants and concerts.
To help yourself achieve the goal of a healthy bank account it is important to remember these three key aspects: produce, save and maintain. It is definitely a benefit to have a part time job while going to school, but there are also a couple notable ways to help put some extra spending money in your pocket.
One of these actions includes collecting extra change. Benefits to using this method could include not worrying about buying a meal somewhere when you are out and about and cannot make it to the dining hall, or you could simply live off the change to provide yourself late night snacks from the vending machines.
Look at it this way: specifically using your leftover change for quick snacks could help prevent you from using your debit card and possibly not having enough money down the road. Another simple and easy way to put an few extra bucks in your wallet is by taking your empty cans and bottles to a redemption center. Even though each can and bottle is only worth five cents, your collection will quickly grow and you will be able to muster up a couple bucks here and there and give your budget some added support.
There are not many awful feelings out there that can compare to being out of money. This can be avoided by putting together a budget for yourself. Set a limit to how much money to spend in a given amount of time whether it be just a week or the entire semester. Keeping track of money with a budget is a no brainer to controlling spending and it will be a lot harder to go broke.
When it comes to following through with these actions, or in other words maintaining a healthy bank account, there are two key components that will be essential in doing so: discipline and effort.
Ask yourself, “How badly do I want extra money and how far will I go to push myself?” That ties into the second component: discipline.
Having discipline will help fight the temptation of wanting a Pop Tart and a Butterfinger from the vending machine or blowing money when out with friends. So bottom line, follow through on producing, saving and maintaining and it is guaranteed to keep that bank account healthy.
