Your role as a student means you may have expenses such as tuition and books that must be made a priority. Yet, you may also need to prioritize things such as buying a car. Depending upon where you go to school, a car may be necessary to get to campus. You may also want a car to expand your job options or be able to visit your family and friends.
These four tips will help you save up the money that you need to finally own a source of private transportation.
Pick Up a Gig
If you are a full-time student, you might not have the time to work a full-time job. However, there are tons of short-term gigs available that you can use to pull together some extra money.
Check around for people who need help with things such as walking their dog, babysitting or even doing some housecleaning. Then, designate this extra cash as straight savings to put down towards a car.
Pay Down High Interest Debt
By the time that you reach college, you may already have some debt that needs to be addressed. High interest debt often comes with huge payments that cut into your ability to save money.
Personal loan lenders can help you to obtain funds to pay off these high interest debts at a potentially lower rate. This can then help you to have more money available to put into your savings account.
Cut Unnecessary Expenses
In today’s subscription-focused world, it is possible that you have expenses that you don’t really need to pay for every month. For instance, you may have a snack box or clothing subscription that could be dropped. You can also look into things such as your cable or smartphone bill to find out if you might be able to eliminate some of those costs. Making your own coffee or lunch is another great way to reduce your costs for basic essential.
Find Cheap Forms of Entertainment
While you want to drop unnecessary expenses, you also want to remember that some may help you save money. For instance, paying for a television subscription can give you something to do as an alternative to paying for an expensive movie. Look for low cost things to do for fun. Your school may offer plays, concerts and other fun things to do rather than other venues with pricy tickets.
other valuable tips:
You can save money for a car without having to sacrifice too much comfort. Once you know which car you want, continue to look for ways to save money. You’ll be surprised how fast you come up with the funds to buy your car when you make an active effort.
Image Credit: save money for a car by Pixabay
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