I spent the better part of my senior year in high school hearing stories about how broke my older college friends were. I just didn’t understand—how did every college kid seem to be broke? If I’ve learned one thing about life from college, it’s that spending a little time learning how to manage money is extremely important. Keep these tips in mind to keep you and your bank account happy!
Track your spending.
There are tons of apps out there for basic spend tracking. If you want something fancier, Mint is a great online service for more robust planning and tracking. If you’re an old school chick and prefer to keep a journal—that’s fine too! At the end of each month come back and see what segments you’re overspending on. For me it’s always food!
Set a budget.
I know it sounds so clunky, but budgets will save you! Having a limit for yourself really helps curb spending. For me the beginning of the month is always the hardest. So, I set weekly and then monthly budgets. The easiest way for me to keep track of them is on Excel and the notes section of my phone! Tip: make sure to keep in mind monthly recurring charges like Netflix and subscription boxes.
Take advantage of college discounts.
Use these discounts to your advantage—a lot of them are cooler than you might think! Find more information about my tips for scoring college discounts in this blog from July.
Shop at places that reward you.
Loyalty programs = my best friends. Why not shop at places that save you more money in the long run? Tanger has an amazing loyalty program called TangerClub. There’s a one-time $10 fee to start getting rewarded to shop. Hit spending levels for exclusive gifts and discounts and access your account right from the Tanger app. The more you spend, the more you save!
Utilize campus resources.
Free movie nights, cookouts, tailgates, sporting events, career coaching, financial services and more can all be found on most campuses. My school provides the Adobe suite for free and also gives out Starbucks vouchers with certain meal plans; I love the awesome freebies that I can score right on campus. College campuses have so many amazing resources—make sure to stay in the know! Tip: follow your college on social media to get updates on freebies and services.
Ramen no more! With these college spending tips you’ll be on the path to financial independence. How do you budget and save? Tag me @TangerOutlets with #StudentLife or drop a line below! I’d love to hear your tips!