How to avoid wasting money as a student

Students often only focus on their studies and colleagues, and pay less attention to how they go about spending money.

07:52 05 October 2013

It's easy to waste money as a student, especially if your parents pay for the whole deal. But studying at college is your last stop before adulthood, and if you want to start on that road on the right foot, you have to be cautious about how you manage your credit.

Here are the things you should take care of while making your way through college.

• When purchasing products from the local supermarket, try to compare similar products and go for the non-branded ones if the alternative is of the same quality. You may think that the amount of money you save by doing so is small, but in the long-term, that amounts to a significant saving; when purchasing branded products, you end up paying for the commercial that made that product known, and not for the quality;

 

• Don't purchase memberships with your credit card unless you are 100% confident that you will actually use that membership to the fullest; for example, you take on a fitness class membership that covers the whole year, but you won't go during winter season. You should consider paying only for several classes, and increase your credit balance that way;

 

• Don’t take your credit or debit card with you when you go on a night out. Instead, take with you only the cash that you know you can afford to spend that night. Otherwise, you may end up having a lot of fun forgetting that you can't afford to pay so much for it;

 

• Improve your spending habits – that is to say, try to only buy the things you need when using your credit or debit card;

These are some of the money wasting habits that students all over the world don't pay attention to. It's alright to focus on studying and having fun in your spare time, but remember to always keep an eye on your credit balance.