How can you save money when your future depends on you spending it?
I love music and I plan to become a band director and in order to get accepted into a good music school I need to stay in the band program at my school. To be in the program it costs $1250 each year and $1000 to join a winter program. I love this program but I just don't know if I can afford it anymore. How can I save money when my future depends on me spending it?
Mia great question. Budgeting and finance are key parts of adult life that while not fun, are key skills to develop when you are young. If you know ahead of time that you are probably not going to be able to afford a cost, I would suggest trying to find a part time job. I am not sure if you are working already, but if you are not I would try and work at least part time to earn some extra money. This will help decrease the amount of money you are short for the program cost. Additionally, I would cut any and all unnecessary expenses. Cutting expenses again is not fun, but it will allow you to save money for what you really want, your music program. Think of all the times you buy something and ask yourself whether you truly need that or not. I used to go to Starbucks everyday and after awhile I realized that I only went once a week to Starbucks, I'd save myself $24!! While not necessarily a ton of money, every dollar counts when you are saving up for a big expense.
I hope this helps and I hope you are able to join that winter music program!!
Austin recommends the following next steps:
2.Have a savings plan.
3.Pay off some debt.
4.Shop around for the best deal.
5.Set up a separate savings account.
6.Change a spending habit and save.
7.Up next in Saving.