How to Save Money in College

Drag to rearrange sections
Rich Text Content

Most college students have never had to manage money on their own before heading off to school. Given today's combination of rising tuition and costs of living, students often have little wiggle room when it comes to staying within their budgets. Instead of accepting the moniker of starving student and living in poverty to get an education, read on to find out how to save money on everything from everyday living expenses to entertainment as a college student.

Look for Student-Friendly Stores

There are plenty of brick-and-mortar stores and websites that offer student discounts. Make a list of online and local shops that offer discounts to college students and make a point of shopping there to take advantage of them. Most only offer a few percentage points off of total prices, but those percentage points add up.

Eat Out Less Often

College students who live on-campus don't generally have access to full kitchens or even kitchenettes, but that shouldn't induce them to eat out for every meal. While there's nothing wrong with splurging on a pizza or a fun dinner once in a while, students can save money by eating at their school's cafeteria, even if the food isn't always the best. If there are no options available that meet a student's unique dietary restrictions, he or she should petition the school for menu changes.

Buy Textbooks Used

New textbooks cost an arm and a leg, but many students buy them anyway because it seems like the easiest solution, and no one in the campus bookstore has suggested otherwise. There's a better solution: buy textbooks used from another student or an online reseller. Just make sure to check with the instructor if the used books are all from prior editions.

Avoid Credit Card Debt

Because most college students have never learned how to spend money wisely, they often wind up facing large amounts of debt. Remember that credit cards need to be repaid, often at high-interest rates, and try not to put anything on them that can't be paid in full each month. The right credit cards can also offer cash back on purchases and other perks, so don't be afraid to take out a card, just make sure to use it responsibly.

Don't Be Afraid to Ask for Help

Students who have found themselves overwhelmed trying to learn even the basics of financial literacy shouldn't be afraid to turn to their parents or peers for help. Some even visit financial advisors. It may sound like scheduling a consultation with a financial advisor is a waste of money when there isn't much to spare, but these professionals' services are usually worth the cost.

Start Making Positive Changes Now

Even college students who have already begun to accumulate debt can turn their financial lives around. All it takes is exercising some frugality and living within a reasonable budget to reduce expenses and save for the future. It's worth putting in the extra effort to find great deals on eating out, shopping, and other events now to have more money put aside later.

rich_text    
Drag to rearrange sections
Rich Text Content
rich_text    

Page Comments