I'm tired of being broke. How do I break the cycle?

Question

I'm in college and it's so freaking expensive just to survive. I've been good at managing my own money, but I just don't have enough of it. Even though I work 20 hours a week along with school, I'm gonna have loans out of the @s$ when I graduate because I keep needing to take out money in order to keep my accounts in check (rent, books, etc).

I don't buy much of anything I don't need, and I don't throw money away on things like alcohol, video games, etc. How can I break the cycle, or at least keep the cycle in check?

Answer 1

College is very expensive.  I put myself through school as well.  I tried working part-time while in school full-time, but eventually that became too difficult and I switched to working full-time and attending school part-time.  That helped, a lot.  On the other hand, I am now 26 years old and will just this semester be graduating.  At least I'm graduating, though.  What's more, I'm graduating debt-free, which is very, very nice.

That's an option to consider, but I realize it may or may not work for you.  Here are some other ideas.

Make friends with frugal people.  You'd be amazed how much money you can all save together.  Don't buy new clothes; trade clothes... somebody will have something you like, and they'll want something you do.  Do the yard sale and garage sale thing, too.

Buy food in bulk, at places like Sam's Club or Costco.  Stock up.  You'll save tons of money.  Plus, having a stocked kitchen helps reduce the temptation to eat out or order delivery.  

Try to do all errands in one day, every week or two.  Gasoline isn't cheap, and there aren't a lot of ways to avoid it except to minimize your driving.

Watch your utilities.  When climate permits, turn off the air conditioning or heater when you're not home.  Open windows when you can.  

Consider getting a roommate or two.  You can save tons of money by sharing expenses.

Talk to your financial aid office.  Often, the representatives there know about scholarships that you may be eligible for that go unclaimed.  Apply for more money.  Be sure to check the many free scholarship search websites, too.

Create an email address just for saving money.  Sign up for free coupons and for special offers from every store where you regularly shop.  You'd be stunned how much discounts flood your inbox.  Only print the coupons for items that you would have needed to buy, anyway.

Best of luck to you with your studies.

Answer 2

Your time will come - maybe your friends have better cars now but in a couple of years down the road you may be the one taking your friends for a ride. Think about it this way - because you don't have rich parents, you've earned all your money by your own merit. Rich people who are born with a silver spoon in their mouth aren't successful in my book.

Try seeing if your university offers an internship program (sometimes called coop in Canada) where you can work in a program-related job. Also  see if you could do research with a prof and get paid some money.