Let’s be real, working those part time evening and weekend jobs while also balancing college courses absolutely sucks. Especially when you feel like you’re working so hard and the dollars aren’t stacking up. This isn’t a get rich quick scheme – and you’re definitely not going to be buying a Rolls Royce anytime soon. But, with this system, you might be able to create a bit of a safety net for yourself.
When I moved home after my freshman year at a different college (read all about that here), I had zero savings. I had blown all my graduation money and savings I had from the summer after high school graduation on food (not kidding), so I was really starting from scratch. Upon moving home, I held various jobs. My first was a full time nanny position over the summer, and I worked at a restaurant as a host part-time during the semesters. I wasn’t setting the world on fire financially, but I did have a steady income that gave me an opportunity to save.
Here’s the method I used to put some money away:
After I would receive my paycheck, I’d set aside the money to cover all of my expenses. Whether that be gas in my car, part of my loan payment, etc., that would come out first. Most people make the biggest mistake after paying their bills. My mom always said, “pay yourself before you spend yourself thin.” With that in mind, I would leave $100 in my account, and take the rest and hide it from myself (at the time I had just closed my savings account, so I had cashed out the money and put it in a safe). $100 was enough for me to go out to dinner with friends, see a movie, and just have money there incase I needed something small. After a little while, I had enough cash to buy myself the new Macbook I needed for school, and still have a little left over.
This method isn’t one that will work for everyone, but it did for me and I know it can help others! Be sure to share this and let me know how this works out for you!