Money Habits Every Broke College Student Needs to Know

Dec 27

Being broke in college feels like a rite of passage, right? But what if we told you it doesn’t have to be that way? You might not have a full-time salary, but with the right money habits, you can stretch your dollars, save for the future, and even afford some fun along the way.

Here’s the good news: you’re probably richer than you think—you just need to track where your money is going. That’s where tools like Budget Caddie can be a game-changer. It helps you get real about your spending, so you can control your finances without feeling deprived.

Let’s dive into the money habits that every college student should know to thrive financially.

1. Know Where Your Money’s Going

You can’t save money if you don’t know how you’re spending it. Start by tracking every expense—yes, even that $5 latte. When you see it all laid out, you’ll be surprised how quickly small purchases add up.

How Budget Caddie Helps:

Automatically tracks your spending in real time across multiple credit/debit cards.
Breaks down expenses into categories with advanced AI like food, entertainment, girlfriend/boyfriend, clothing, Wine Wednesdays etc..
Shows where you can cut back so you can save more while providing user specific AI insights on how to manage spending better.

Remember: You’re richer than you think. It’s all about knowing where your money is hiding!

2. Build a Budget (You’ll Actually Stick To)

Budgeting doesn’t mean saying goodbye to fun. It’s just about making a plan for your money. Use the 50/30/20 rule as a guide:

50% for essentials like rent and groceries.
30% for fun stuff like nights out or that concert you’ve been eyeing.
20% for savings or paying off debt.

Why Use Budget Caddie:

Helps you create and stick to a personalized budget.
Tracks every dollar so you don’t overspend on one category (hello, late-night takeout!).

3. Stop Overspending on Food

Food is one of the easiest ways to blow through your budget, especially with tempting delivery apps. Instead, try:

Meal prepping—it’s cheaper and healthier.
Taking advantage of student discounts at local restaurants.
Setting a weekly food budget and sticking to it with Budget Caddie.

4. Use Free or Discounted Resources

College is full of free (or nearly free) resources:

Gym memberships? Usually included in tuition.
Free events on campus? Yes, please.
Student discounts on software, streaming services, and more.
Hint: most give microsoft applications for free as long as you are in school.

Make a list of what’s free or discounted around you and take advantage.

5. Pay Yourself First

Even if you’re living on ramen, set aside a small portion of any money you earn—whether it’s from a part-time job, a side hustle, or financial aid. Even saving $10 a week can add up.

Make It Easy with Budget Caddie:

Automates your savings so you don’t have to think about it.
Helps you set realistic goals for things like spring break trips or building an emergency fund.

6. Use Credit Cards Wisely

Credit cards can be helpful for building credit, but they can also trap you in debt. Use them for small, manageable purchases (like gas or groceries) and pay them off in full each month to avoid interest charges. Building a good credit score is really important, and can really help you out in the future.

7. Avoid Impulse Purchases

We’ve all been there: scrolling through Instagram and suddenly needing the latest sneakers or makeup palette. Before you buy, give yourself 24 hours to think about it. Most of the time, the urge will pass, and your wallet will thank you.

8. Start a Side Hustle

From freelancing to selling your old clothes online, there are tons of ways to make extra cash. Use platforms like Fiverr, Depop, Facebook Marketplace, tutoring or even dog-walking apps to earn on the side.

9. Take Advantage of Student Benefits

Open a student bank account with low (or no) fees.
Get a high-yield savings account for any cash you’re setting aside.
Use your student ID for discounts everywhere, from streaming services to clothing stores.

10. Make Saving Fun

Saving money doesn’t have to be boring! Set fun goals, like saving for a concert or a weekend trip, and use Budget Caddie to track your progress. Watching your savings grow is surprisingly motivating.

Take Control of Your Money Today

College might not make you rich, but smart money habits can set you up for financial success in the future. Start tracking your expenses with Budget Caddie—because once you know where your money is going, you can start directing it toward the things that matter most to you.

Remember, you’re richer than you think. It’s all about taking small steps today that will pay off big tomorrow. 💸

Start Now with Budget Caddie

Ready to take control of your finances? Join the waitlist for Budget Caddie today and start tracking your expenses, building a budget, and achieving your money goals as soon as early 2025. It’s your ultimate tool for financial freedom!

Sharran Kumar