8 Tips On Saving Money Now To Ensure You Make Rent In The New Year

By Sarah Christine Davis on December 10, 2015

For most of us college students, it’s hard to save up money.

Everything is just so enticing — from the new perfume that recently came out that you just have to buy to your favorite actor’s newest memoir, it’s often hard to say no to spending.

In addition to that, sometimes there’s just not any money left over to save.

And on top of everything else, it’s the holiday season and you are expected to buy gifts for all of your loved ones.

With all of this going on, sometimes it’s hard to lose sight of the necessities that we need to spend money on, such as rent. Every fateful first of the month, you have to fork over hundreds of dollars just to have a roof over your head. Paying rent in addition to paying for a menagerie of other goods and services is nothing more than a pain in the behind. However, it’s something that you can’t avoid.

There are several ways that you can save up your money and spend wisely in the last few weeks of December so that you aren’t sitting on the edge of your seat with anxiety every time you have to pay rent. Check out a few tips below!

1. Bring your lunch with you to work or school.

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The costs of buying lunch every single day at your university’s food court or the café downstairs at work add up quickly. Avoid these unnecessary costs by making your lunch at home and bringing it with you.

Even if you don’t like to cook or you don’t have the time to create an elaborate meal, there are plenty of options for you. Check out five quick and easy (and healthy!) recipes here.

2. Be a smart grocery shopper.

When you’re bringing lunch with you every day, you have to go grocery shopping — and that can be stressful. However, the stress is reduced when you know exactly what you’re going in to get and making a plan based off of coupons and deals.

Search for coupons in your local newspaper and on your favorite grocery store’s website. Most grocery stores also post their weekly BOGO and other deals on their website so that you can base what you’re going to buy on what deals are going on.

3. Review your bills and insurance policies.

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While this process can be painful, it can save you dozens of dollars every month. Sit down and look over all of your bills and insurance policies to determine if you’re paying more than you need to for anything.

Review your phone bill to see if there’s anything you’re paying for that you don’t actually use. Look over your car insurance coverage to see if there is any way to lower the monthly cost. Contact your health insurance company to see if there are any satisfactory but less expensive, better plans you could be on.

4. Download a budgeting app on your phone.

There are apps out there for everything — including banking. Free apps such Mint help you pay your bills on time, remind you when your bank account drops under a certain amount, and more. This is the easiest way to ensure that you are on top of your budgeting game.

5. Collect your change.

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This seems old-fashioned, but it can make all the difference in the world. Any time you use cash, collect the coins in a jar. Once the coins have filled the jar, take them to a Coinstar machine or your local bank to turn them into cash that you never knew you had.

This is a great way to save up cash to treat yourself every now and then after you’ve ensured that your rent is paid. It’s also a good way to play it safe and have some extra money set aside in case you’re short on rent.

6. Budget the necessities.

Before you start spending money on extra luxury items, it’s good to make a budget so that you know the necessities are paid for. Figure out exactly how much money you need for rent, food, bills, etc. each month before you go on any unnecessary spending sprees.

7. Review your spending from this year.

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A great way to figure out what you tend to spend your money on is to review your spending habits from 2015.

Go through your bank accounts online and write down every place you spent money. Underneath every place, make a tally of how many times you’ve been there and how much money you spent there. You can find out if you need to cut down on the fancy espresso drinks and figure out how to budget your money more wisely.

8. Toss the fancy espresso drinks.

Speaking of the fancy espresso drinks – they’re not really necessary. A simple coffee with the sugary flavoring of your choice is a much less expensive way to get the caffeine buzz you need without sacrificing taste.

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