7 out of 10 college students are worried about their finances. If you’re a college student, you know the feeling all too well. Finances are tight, but that doesn’t mean you can’t have a blast this summer. Here are some tips and ideas to help you spend less money for a debt free summer.
1. Remember to Relax!
You might be ready to start a summer job, internship, or another semester of classes. Whatever you do, don’t forget to take a short break to relax and recharge. Summer vacations don’t have to be fancy, as long as your trip helps you refresh your mind without breaking the bank.
2. Explore Your City.
There are lots of low cost summertime activities that await you! Get your planner ready and don’t miss out on fun activities such as: farmers markets, flea markets, swap meets, concerts, festivals, parades, and more. Explore what’s around you and find ways to take advantage of your community. If you’re in Utah, Visit Salt Lake City is a great place to refer to for local events. No matter what you’re doing during the summer, you can always enjoy where you live.
3. Forget Costly Hotels. Try AirBnB.
AirBnB is a popular cost effective way for college students to enjoy vacations without breaking the bank. This is a great way to save money and support local communities. You can rent a room for as little as $30 to $50—or even have your own place for $60-80 a night. So why not give it a try?
4. Take a Road Trip with Your Faves.
We’re spoiled here in Utah – there are so many breathtaking road trips to go on with your friends and loved ones. Traveling in groups is a fantastic idea. Not only can you split expenses, but it’s also fun to travel and explore with your favorite people. Don’t forget to plan ahead and pack meals and snacks for your road trip. You don’t want to end up overspending on fast food or convenience store stops.
5. Credit Cards for Emergency Use Only.
It’s easy to get carried away and misuse credit cards, especially during vacation. With rapid spending, reality usually doesn’t hit until much later when you see your bank account. Remember, whether you’re on vacation or not, you still have bills to pay. Change your money habits today, so your habits don’t impact your tomorrow. Pro-Tips: Plan ahead for your vacation expenses or try to pay your bills in advance. Make a plan to only use your credit card for emergencies.
6. Stay in and Cook.
Staying and cooking your favorite meal in the comfort of your own home comes with perks. First, you can make sure that your diet is healthier through planning out meals. We’ve included some delicious recipes to get your taste buds going! Second, eating in is less expensive than going out. Lastly, besides saving money, there are even more Compelling Reasons to Cook Your Own Meals.
It’s amazing what solutions you find when you challenge yourself to think of ways to enjoy your summer break on a budget. A low-key vacation, local activities, road trips, saving your credit card for emergencies only, planning out your meals, are some of the many ideas to help you avoid unnecessary debt.
Always be thinking about your future. After graduation, you’ll be able to comfortably spend more on things you love – like summer vacations!
Blog Contributors: Emily Baker and Tinu Silva