By | Published on May 10, 2017

Most college sugar babies are living on a budget. It is really tempting to blow your allowance on clothes, vacations, shoes and etc. Besides that, there are also substantial tuition fees and study loan to worry about. Who’s going to pay for all those textbooks? Don’t worry, this is where your sugar money come in handy! So before you make an impulsive purchase on that designer bag, here are some saving tips for you to help you save up for the rainy days :

SAVINGS PLAN

We all know students loans is now the leading cause. The first and most important thing you have to do is open a savings account if you don’t have one. It is a great away to put some money aside for future use. This is also your emergency fund and you’ll have financial security if something goes wrong. You don’t have to make huge deposits every month, but save up little by little. Small amount of money grow into large amounts of money.

PLAN IT OUT

We’re all tempted by something. For many, it might be the local mall or our favourite online store. You may use your allowance to pamper yourself with new clothes or bags, pay off tuition, or telephone bills. Whatever the case, plan wisely so you’re never down and out. I recommend putting 20 to 30 percent into your savings. It will take several months for a new budget plan to take effect. Like with any habit, the more you do it, the better it starts working.

STUDENT DEBT

There’s not sugar coating it : debt sucks. Every college student has borrowed a loan, unless you’re from a super loaded family then that’s a different case. If you’re not so fortunate, you’ll have to pay off your student debt sooner or later. Don’t spend your next 20 years repaying your college debts. If you want to get out of debt faster, you should live within your own means and be conscientious about saving. Opt for larger monthly payments. Set up an account that will be used only for paying back your college debt. Don’t use savings accounts you already have because you might use that money for something other than your student loan. By learning how to pay off debt fast you can release this financial baggage and remove some of the stress from your life.

TREAT YOURSELF

Since you’ve come a long way, its time to pamper yourself! Get your hair blown out or a mani pedi fix. You deserve it after long hours in class or have had multiple exams. Besides that, you can also go on a shopping spree(but don’t spend it all) to release your stress. Give your tummy the Michelin treatment at some high end restaurant. Whatever it is that you’re doing, enjoy it to the fullest! Always tell yourself that you deserve it!

Bills, bills, bills. The thing we all dread. This is why you need your Sugar Daddy. If you’ve got a good one, you can indirectly suggest he pay off the remaining of your debt as a birthday gift! It is not impossible!