The Collegiate's Guide to Saving Money. - Mostly Morgan (2024)

Morgan Timm

I wrote a post like this a long time ago, but now I have even more motivation to save money so I came up with a few new money saving strategies that I thought I could share with you all! I am excited to say that I will be going to New York for my first ever blogging conference this summer, and I am beyond excited! But it’s no secret that New York isn’t the cheapest of places, so I want to have plenty saved up so I can experience the city in full!

I have several main strategies on doing so, and I am quite excited to share them with you!

Stop spending money!

I know, I know. This one is a bit obvious, but one that I sometimes have to remind myself of. There is absolutely nothing that Ineed to buy right now. I’m at college with a meal plan and I own plenty of clothes and shoes, so the need to spend money is basically nonexistent. If you’re familiar with the restaurant J Gumbos, that used to be my weakness, prior to now I’d be spending 6 dollars a week there, which isn’t a lot by any means, but now that I’m not spending that money, it’s going to equal an extra one hundred dollars in my pocket for New York.

To stop spending money, stop tempting yourself! Stay away from the mall and starbucks and watch your money add up! It’s amazing how much you can save by just cutting out silly little habits!

What I will be doing until then is spending giftcards that I get from Swagbucks, a program I have been using since high school to earn free giftcards online. I am not sponsored by them, but I did reach out to ask if my readers could have a promo code, and they graciously gave me one if you want to sign up and start off with 70 swagbucks – it’s MostlyMorgan. I have an entire post on how to earn, here!

Put your change away.

Whenever i have spare change I instinctually stick it into my change jar, now. I have been doing this for around six months now and have saved up about forty dollars doing so. If you’re on a college campus, then watch where you’re walking, it’s a strange day if I don’t find at least a few coins. When you have a ton of change, take it to the bank to cash out instead of one of the machines – the bank will do it for free, a machine is going to take a cut.

Make a list.

If you’re not on a meal plan at school or do have to go shopping for any reason – make a list and don’t buy anything else. Before you shop brainstorm what it is you need, make sure that you’re going to use it all, and then stick with it. There have been so many times that I’ve gone shopping and fell for the near check-out items or an amazing sale that I didn’t think that I could possibly pass up.

Check online, first.

Again, if you do need to buy something, check your options online out before doing anything else. Chances are Amazon is going to have it cheaper than any store. Especially with things like technology! It might be worth waiting an extra day or two if that means you are going to save a ton of money doing so!

Check for discounts.

There are a ton of discounts available to college students, all you need is a .edu email or a school ID! One of the first posts I ever wrote talks all about the discounts availible to college students. If you check it out, don’t judge – like I said, it was one of the first. You can also find great discounts on Student Rate – an incredible website with an endless list of student discounts plus fun perks likeawesome giveaways!

I hope one or two of these tips might help you, a bit! Are you saving for anything exciting in the future? I’d love to hear about it, tell me in the comments below!

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The Collegiate's Guide to Saving Money. - Mostly Morgan (2024)

FAQs

Which strategy will help you save the most money? ›

The 5 Most Effective Strategies To Save Money For The Future
  • Set Your Goals Early On. Setting a financial goal early on will boost you to stick to your savings plan. ...
  • Understand Your Cash Flows. ...
  • Open a Savings Account. ...
  • Rethink Debit Cards. ...
  • Monitoring Your Spending. ...
  • Revise Your Emergency Fund.

What is the secret to saving money? ›

Save money automatically.

Set up a direct deposit from each paycheck to your savings account. That way you don't even think about the money you're saving—you're just saving. Start budgeting with EveryDollar today! And if you really want to get serious, use a separate bank from your existing checking account.

How to save 150k in 2 years? ›

  1. Don't keep all your funds in one bank.
  2. Spend your salary only after deducting some amount for savings each month.
  3. Always invest little money in some high-quality stocks every month and forget about it.
  4. Never let EMI's cross 30% of your income so that you don't fall in the debt trap.
Dec 21, 2017

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

What is the 30 day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

How can I save $1000 fast? ›

11 Easy Ways to Save $1,000 in 30 Days
  1. Create a Budget. ...
  2. Automate Your Savings. ...
  3. Create a Savings Bingo Sheet. ...
  4. Negotiate Your Bills. ...
  5. Separate Wants From Needs. ...
  6. Plan Your Meals. ...
  7. Buy Generic Brands. ...
  8. Cancel Unnecessary Subscriptions.
Sep 26, 2023

How do I stop wasting money? ›

Here are some ideas to help you stop spending money and build healthier financial habits:
  1. Create a Budget. ...
  2. Visualize What You're Saving For.
  3. Always Shop with a List. ...
  4. Nix the Brand Names. ...
  5. Master Meal Prep.
  6. Consider Cash for In-store Shopping. ...
  7. Remove Temptation.
  8. Hit “Pause"
Jan 19, 2023

Which strategy will help you save the most money wait until the end of the month and add any money that you have not spent to your savings account? ›

If you wait until the end of the month to save, the likelihood will be that there is not much left to save. Make it automatic and have money deposited straight out of your paycheck, or have a portion go into a savings account whenever you make a deposit.

Why is the 50 20 30 or the 70 20 10 rule easy for people to follow especially those who are new to budgeting and saving quizlet? ›

Why is the 50-20-30 rule easy for people to follow, especially those who are new to budgeting and saving? It is a straightforward way to save. The 50 and 30 allows you to spend on essentials and items of your choice and the 20 allows you to save and pay off debts.

What is the best strategy to make sure you put aside money in savings quizlet? ›

What is the best strategy to make sure you put aside money in savings? Include savings as a part of your regular monthly budget.

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