With monthly stipends, work study checks and tuition refunds coming in, it’s important to remember that a big deposit in your checking account isn’t a good enough excuse to buy everyone a round of tequila shots or go on a shopping spree.
Take a few minutes at the beginning of this semester to budget your income and make it last for the entire semester — you’ll be less hungry in April.
Here are a few tips for budgeting smarter this semester.
1. Calculate your projected income and expenditures for the semester. Make notes for how much you expect to spend on food, necessities and entertainment, and try to set some aside for an emergency savings fund too.
When you set goals for yourself in advance, you’ll be more likely to save money down the road.
2. Buy in bulk at the beginning of the year and go to a grocery store or a bulk store instead of Walgreens or CVS — you’ll save money, and you’ll only have to take a few trips instead of one every few days. Take note of the cost per ounce on items at the store. Smaller containers might be more convenient in the moment, but the cost per ounce is usually higher.
3. Don’t feel bad about saying no to eating out when you’d prefer to cook at home or use your meal plan. Budgeting is nothing to be ashamed of, and it’s not worth anyone’s money to end the semester with 50 swipes.
