By: Megan Plevniak
"Being financially stable is hard, but it's not impossible"
You think you’re ready to go back to school this semester? THINK AGAIN! With rising gas prices, food costs, and continuous inflation in this economy, it can put financial stress on students. What if I told you that saving money throughout the semester is easy? Just keep reading.
We all have a favorite place to shop or our go-to gas station—and let’s not forget our coffee drinkers. There is an app for everything these days. You can easily save money on gas by using apps, joining loyalty programs, and checking prices on Gasbuddy.com. After you stop at the gas station, make a quick pit stop for coffee. Tim Hortons and Starbucks come to mind for their amazing rewards programs. Did you know on average it costs $4.00 a day for a cup of coffee? That’s $120 a month and about $1400 a year. On average you can save about $10.00 a week just using the app to score great deals.
Students can save money by using apps, bringing their own beverages and food on campus, and using cash back or loyalty programs. Studies show that people are more interested in saving money now more than ever. This economy is challenging, and being financially stable is hard, but it’s not impossible.
What I enjoy about shopping is how much money you can save. I am always using grocery coupons on the app, and comparing prices to other stores in the area. Online shopping has become a hot commodity with apps like Instacart, Wegmans, Amazon, and Walmart. Those who like to order dinner can also sign up for platforms like DoorDash and Uber Eats for more deals! As a student preparing for the next semester, you can sign up for these platforms and regularly receive deals right on the app. It makes it easier than ever to compare prices, discover great deals, and even score free delivery.
There are also wonderful cash back programs or apps you can use. You get a receipt from the store but who wants to carry several long paper receipts in their wallet? That was my thinking until I discovered apps that let you scan your shopping receipts for money. Yes—they actually reward you with money or points towards gift cards, PayPal, Cash App and more! These apps include Fetch and Ibotta. Instead of throwing out these once useless receipts, use them as a way to save money towards your next purchase.
What comes to mind as the best way to get prepared as the semester is near? How do we know where to start? While the subject of finances and bills and everyday stress can be scary, it’s always good to have a plan. Start at the beginning and that is—financial planning or in other words budgeting. Take a few minutes to jot down all of your expenses. Your bills, cost of groceries, dinner, coffee, streaming services, and let’s not forget college books. Once you write down your expenses for each month, then you can see what is necessary and what you can cut down. Some of us aren’t even aware of the amount of money we spend each week or even each month. That $4.00 cup of coffee turns into $120 a month, that dinner you ordered—$300 a month and the list goes on. Once you create a financial plan or budget, you will feel like a weight lifts off of you.
One thing to remember as you gear up for a new semester is that we can never be too prepared. Go ahead and download those apps, start saving on things like gas and groceries, and save those pesky receipts. You will become financially stable in no time. While you may feel like you aren’t ready, if you just follow these simple steps, your next semester will feel like a breeze.