Hey Everybody, sorry I haven't posted in such a long time! School has taken up a lot of time. Today's tip is all about Opportunity Cost. Now I know this sounds simple, and maybe a bit repetitive, but it's a good tip for today to get back into the swing of saving money for some people. First off, you must begin cutting spending, by deciding on spending on certain activities/items over others. I learned this more during my college experience: if I spend money on my meal plan for lunch with a drink, I'll drink water with dinner. Small decisions like switching off items such as drinks can quickly save up money. I usually try to keep my meals consistently around $3-$3.50 for my meal. This means that if I spend $2 on a smoothie during the day, I'll cut more out of costs when buying a meal later. When it comes to spending on recreation, it's easier to decide on one interest over another, instead of doing both. For instance, last night I considered going to a party: which would cost me about $5 to get in. Instead though, my friends and I ended up going to a place where we could play pool, and then we watched a movie. So I spent about $2 on the night instead. Just having this kind of thought process when considering activities to do or meals to eat helps a great deal; a couple dollars here accumulates and ends up helping a lot. Hopefully this one helps you guys, it's been a while since I've posted and again I apologize, but I figured this kind of hint was appropriate
3 Comments
|
About the AuthorI am a 19 year old teenager and my goal is to maintain a page for teenagers and college students to gain information from in order to save money and make a few extra bucks online. I also just want to share my experiences with spending and help others change their lifestyles. Archives
November 2012
|