How to not burn through your savings this semester
After stashing lots of cash over the mid-year break there’s nothing more depressing that watching those savings melt away over a semester of commuting, nights out and a copious late-night kebabs. You slaved away, dealing with complaining customers 24/7 while sobbing into your sleeve when people keep shopping after closing time.
So getting back to study can feel twice as painful; it always hurts to be burning through your cash supply, and now you’re even too busy hitting the books to spend the time on making it back.
To make opening up your banking app and checking the balance a little less terrifying, here are a few ways to get through semester without smashing your savings.
Get your concession on
Cheaper travel, discounts on medicine, cut-price movie tickets and more. It doesn't make up for the semester savings drain but it definitely helps.
Being wary of student discounts
Sure you get 50 per cent off a coffee-doughnut combo, but do you really need it? No, no you don’t.
It may be appealing to get your textbooks from the campus store because they’re 10 per cent off and conveniently located, but there are always ways to find textbooks even cheaper. Oh, and ever thought about checking the library?
Supermarket loyalty means nothing in the Game of (HECS) Loans
ALDI and generic brands are your new biffles, get used to it.
Be your own accountant
The super expensive things like car rego and textbooks stand out when you think about the dents you’re putting in your savings. It’s easy to forget how quickly things like pizza, Ubers and flat whites add up. To make sure you understand how much you’re spending try switching it up and replacing those small (but frequent) expenses with cheaper versions of the same thing. Do you really need that $5 organic soy flat white? Could you just opt for the $1 7-Eleven version? What about that Uber that’ll take you ‘just around the corner’? Walk it, my friend.
Nah, just playing. Now’s the time to get absolutely marinated. YOLO right?
The golden rule of going out on the cheap is to take cash! No more cash = no more drinks. No more drinks = manageable hangover = being able to make it through your Sunday shift.
Make realistic living decisions
Should I move back in with the ’rents? Do I have to? Can I fit another person in the share house to cut down the rent? These are the questions you have to ask yourself if you want to save your savings.
It may be an inconvenience, but having someone else to share the cost of living, can often be worth the satisfaction of knowing you’re not blowing all the money you worked all break for.
Get a grip on your online shopping
Basically, just because it’s cheap and on eBay, you don’t need to buy it. The key to keeping cash in your account is getting a grip on your online shopping. Log out of your eBay, PayPal, Iconic accounts and don’t save your passwords. Bonus points for actually forgetting your passwords.
There’s a million and one ways to save money and quit pestering your poor ol’ savings account. As long as you’re actively thinking about ways to conserve those funds, you’re heading in the right direction.
A country kid at heart with city slicking aspirations in his head; Harrison is an aspiring journalist, video editor and human being.
Feature and article hero images: Giphy