We have all been there before: Friday night, friends dragging you by the ear to Buckhead or some expensive ramen place in Duluth. You nervously cave to your FOMO and after a hazy night of excess, you wake up to the dreaded low balance email from your bank. Though the solution might appear to simply be “don’t have fun,” with clever management and spending, you can still afford to treat yourself and live your best life. From a student who has shaved her budget down by 25% in the span of a few months in college, here are some tips and tricks to help you stay on track.
Budgeting Your Money
In order to stay on top of your finances, it’s important to budget and track your spending. Consider using free mobile app Mint, which syncs with your bank accounts, investments, bills and credit cards. The app automatically categorizes each transaction you make so you know what you’re spending money on. Mint also notifies you when your bills are due or when deposits enter your account.
If you would rather organize your budget and finances on a chart, Google Sheets provides free monthly and annual budget templates. Manually input your budget and transactions, and customize the document however you like. While maintaining your own spreadsheet might take a bit more effort, it may be worth it for those who want to aestheticize their budgeting records.
Easing Off the Ubers
Though Uber makes it easy to get around metro Atlanta, the charges will quickly add up. Take advantage of Emory’s Experience shuttles which provide students with free transportation into the city and to local events. Emory also has numerous free shuttles that run regularly from Woodruff Circle to several nearby locations. The North DeKalb shuttle for example gets you to Walmart and the somehow still operating North DeKalb Mall. An Emory shuttle ride may not be the same as a free pass to Music Midtown — but hey, at least you can shave off a dollar to “Save Money. Live Better. Walmart.”
Cheap Eats
When it comes to eating out, restaurants within walking distance, like places at Emory Village, would be overall cheaper. I recommend Falafel King at Emory Village for flavorful and filling Japanese and Mediterranean food, a combination nobody asked for but everyone needs. The next best option would be to use your Dooley Dollars to the fullest at Cox Hall or other Dooley Dollar-accepted locations. Clairmont residents, you have kitchens: no restaurant can beat the inexpensiveness of a home-cooked meal.
The North Decatur Plaza also houses several restaurants within walking distance. Blaze Pizza offers basic cheese pizzas at less than $6 and Willy’s Mexicana Grill is a fun mix-up to the classic Chipotle. You can ride the C-Emory Publix or North Dekalb Park-and-Ride shuttle routes to arrive at the shopping center.
Emory also offers the CCTMA shuttle which goes to Decatur every 30 minutes. Biking to restaurants in Decatur is another option that can cut down on Uber costs. Bell Street Burritos and Jeni’s Ice Cream, located in Decatur Square, both rest on a bike-friendly route. The Square is a walkable scenic district close to Emory with plenty of reasonably-priced restaurants. Check out Raging Burrito for Tex-Mex fusion (and fun trivia nights), or Chai Pani for Indian street food.
If you’ve invested in a meal plan, make sure you’re using it to the last cent and not spending too much extra money at off-campus restaurants. Although the dining hall can get repetitive, the Dobbs Common Table at the new Emory Student Center should provide plenty of options to spice up the monotony. Take advantage of the dining hall’s array of sauces and spices — and consider adding cheese to everything. Everything tastes better with cheese. And remember, you can always bring your own condiments to liven up the blandness.
Sourcing School Supplies
When it comes to textbooks and school supplies, my best advice is to shop online for better deals. Amazon and eBay often offer used books at cheaper prices. You can also try to find approved PDFs online; these are often free or cheaper than the printed versions.
Emory also has a Facebook Buy/Sell group where you can search, post and request items. Take advantage of this page and sell your old textbooks. You’ll rarely use them after the assigned class ends and it might help you find salvation after buying a $350 financial accounting textbook.
Or, you can finally find a use for that time you downloaded Vezzy, an Emory student-run buy-and-sell app (unfortunately only supported on iOS), to search for deals on used textbooks.
Cost Effective Habits
If you’re working or receive an allowance, it’s beneficial to learn how to save your money. Whenever I receive deposits, I transfer a small percentage into my savings account before putting the rest in my checking account. I have the choice to save more or less, but I save at least some of the money I earn in case of an emergency. The money you save doesn’t have to be a huge part of your income, but it’s imperative to save at least some portion of it, and it’s easier to save now, when there are fewer bills to pay, rather than scramble for money in the future.
I use the money in my checking account to pay bills and spend how I wish. When buying items, think about what you need versus what you want. If you’re considering making an expensive purchase, wait a week to see if you still want it. Pro tip: if you can wait a week, you probably don’t.
Conclusion
All students struggle with juggling a full schedule, a personal life and maybe a job or two on top of it all, but it’s worthwhile to learn how to budget and save your money while the bills aren’t stacking up. The next time you get a heart attack as the barista tells you your card has been declined, follow these tips and your wallet will thank you.
