Everyone likes to spend money, and in contrast, every company is trying to separate you from your money, one nickel at a time.
Companies spend millions of dollars every year looking to find ways to convince you to part with your hard-earned cash, so shouldn’t you spend a little time and energy watching it? I think so and I hope you do too!
To highlight our theme of a New Year, New You, I have come up with a few tips you can act on today. I hope one or more of these tidbits will get you on your way to keeping more of your money, whether it comes from student loans, part-time job, or (like me) a full time career while completing my studies; every dollar counts!
1) Did you know that many financial institutions offer free banking for students? Next time you are in your branch, ask about “Student Banking”. With your Royal Roads University ID, you could save up to $30 per month in fees! That is over $300 per year! TD is a sure thing, and others brands likely have similar programs in place. It does not hurt to ask!
2) Pay yourself first! It does not matter if you make $100 part time every two weeks or 100K per year, you MUST put away a chunk (at least 20%) off the top to pay yourself.
3) Do not keep up with the Jones’! Nobody cares if you don’t have that newest iPhone except Apple.
4) Do not buy coffee from the green logo barista that rhymes with five bucks! This is the most insane craze out there. I do not care how good, how sweet, or how good that mocha frappe is, it is making you broke. I usually buy good Hawaiian Kona coffee, use 2% milk and it blows any soy chai latte away (plus most of those beverages contain a pound of sugar). You do not have to go Hawaiian, but I’m sure your favorite blend is at your local Thrifty’s at a fraction of the cost of five bucks.
Money saving lunch tip (Yes I did invent, use and may patent this awesomeness):
Take any bowl of spicy (or regular) kimchi noodles, cut out a quarter avocado, a couple slices of cheddar, mozza, or marble cheese, pour in boiling water and you have a hearty gourmet Asian version of tortilla soup. A $10 box at Costco will last you a month and then you can spend spring break in Vegas!