The first step to gaining better control of your spending is knowing where your money goes. Understanding your spending habits involves more than proudly reminding yourself that you have covered the necessities such as food and fuel this week. What about the quick stop for chips and soda at the convenience store? The four visits to the neighborhood coffee shop? Assessing what you spend means really scrutinizing where each dollar goes—then determining where you can reduce expenditures so that your funds from work, parents or a student loan will last longer.
Small, seemingly inexpensive purchases are a major financial pitfall for many college students. Spending $6, after all, does not usually have immediate consequences, and is such an insignificant dollar amount that most students do not think twice before spending it. But what if that $6 is spent on a specialty cup of coffee, and what if that innocent cup of coffee is purchased six days a week? It is easy to see how small purchases can quickly add up, leaving students broke, hungry and wondering, where did all my money go?
By tracking all of your expenditures over a two week or one month period, you will get a clearer picture of where your money is going. The idea is to understand your spending habits such that you can become more conscientious about how you apportion your money, not to eliminate everything that is not a necessity. Perhaps your daily cup of coffee is a meaningful and relaxing part of your day. Even the savings from buying a smaller size can add up, or why not invest in a coffee maker and brew coffee at home for long term reduction in spending?
One activity many students find consumes a disproportionate amount of money is patronizing convenience stores. Frequent stops for snacks and drinks at convenience stores and drug stores can add up fast, especially considering the higher than average prices charged at such places for the convenience. When assessing your spending habits at convenience stores, ask yourself, “what am I buying?" If you frequently stop for a soda, it may make better financial sense to purchase it in bulk at a regular grocery store. While you may spend $1 at a convenience store for one drink, you may find that you can get a twelve pack for around $4 and stretch your dollar further.
Another major money trap for college students is eating out for every meal. The opportunity to socialize and again, convenience, drive many students to go to restaurants for breakfast, lunch and dinner, a habit that can quickly drain funds. If restaurants account for an overwhelming percentage of your expenditures, look for ways to reduce the percentage without depriving yourself of food or socializing. For instance, if dinner out with friends is on the agenda, you can simply eat breakfast and lunch at home to justify the greater expense of dinner. Planning for meals is key—if you do not have groceries on hand to create your own meals, you will likely end up opting for fast food and putting yourself in the same, financially strained situation time and time again.
Learning to spend wisely and in moderation may take some time and ongoing effort, especially with the instant gratification to which many of today’s college students have become accustomed. Taking an honest look at your spending habits is the first step to establishing a balance between responsibility and indulgence that will not leave you starving next week.
The Little Things You Do
You can drive yourself crazy trying to figure it all out. You'll even find strong opinions on what seem to be little things.
Full vs. Partial Feeds
This one can get quite a bit of debate. Full feeds are great for people who use feed readers and just want to get their blog reading done, but the blog itself may lose out on traffic from those readers.
Partial feeds mean that the first part of your posts must drag people into clicking to read the rest of the post. But some readers will unsubscribe if you require this of them.
There are some strong feelings on both sides of this. Some bloggers worry about their feeds being scraped if they use full feeds. Others want readers to come to their blogs to hopefully improve the number of comments and maybe even ad clicks.
Personally, I go for full feeds simply as the most functional option for readers. Anyone who is moved enough to comment still has to click through to the site. Properly added product recommendations will still make it through to the feed reader, so you can still get affiliate commissions.
Displaying Feed Counts
Having a lot of readers is a wonderful thing for a blog. It's one of the things that makes blogging worthwhile. Some bloggers display their feed counts, while others don't.
And of course some fake the numbers so that they look popular. All too easy to do and generally too easily discovered.
I've seen general agreement that if you have fewer than 100 subscribers to your feed, you may as well forget about displaying the count. You aren't getting the social proof that you should want from this. Some will say to wait for even higher numbers, but that's up to the individual blogger.
Even some sites with a huge number of subscribers will prefer to not show numbers.
Don't bother faking counts, as being caught out greatly damages your reputation. Instead, think about why it is you want your count to show.
In many cases, it is for that social proof that a lot of people are subscribing to your site. Feed subscriptions don't tell the whole story, but it's a number that is easily made public.
Just keep in mind that there are other ways for people to tell how much traffic your blog is getting. The number of comments is a good clue. A high subscriber count displayed with few comments (assuming comments are turned on) can indicate a problem.
Using the Right Social Media Sites
Social media websites have proven to be an amazing way to get the word out about individual blog posts. But if you try to sign up and participate in them all, you're going to drive yourself crazy and possibly be counted as a spammer if you do nothing more than self-promote.
I'll be perfectly clear. Social media can make a huge difference to your blog and the traffic you get. But overdoing it is not the answer.
Pick one or two to start with, and participate on them. Promote your own things occasionally, but your main focus should be on being a good member. You're looking to build a solid reputation and some trust. Network with people doing well on those sites as well as with others just starting out. Get a real feel for what goes over well.
Don't give yourself too hard a time about learning it all right away. There's a lot to figure out and taking your time to understand what you're trying to accomplish will do more than plunging blindly in.
While any of these can make a difference in how your site grows, they really aren't that likely to make or break you. Even your own use of social sites, which can drive serious traffic at times, can matter far less than if your readers use them. Give yourself time and work the way that is best and most productive for you.
Both Edmund Rogers & Stephanie Foster are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Edmund Rogers has sinced written about articles on various topics from Personal Finance, Credit Card Offers and College Education. About the Author: Edmund Rogers, a graduate student in English, is the editor for iStudentLoan.com, a student loan and student loan consolidation provider which also sup. Edmund Rogers's top article generates over 9900 views. Bookmark Edmund Rogers to your Favourites.
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