College is one of the most exciting times in your life, but it’s also very expensive. Most college students struggle to save money while they’re studying, so here are six tips that will make it more possible:
#1 Take advantage of student discounts.
Companies will offer discounts specifically for students, so you need to take advantage of them. A quick Google search for student discounts will show you everything you need to know. Sign up to some student discount websites as well, they will have all your available discounts in one place, helping you save money on regular purchases.
#2 Create a weekly budget.
Look at what you need to buy each week, then decide how much money needs to be spent on everything. Your main purchase is food, but you could also require transport to get to classes, depending on where you’re staying. Creating a weekly budget gives you a limit on how much you spend each week, allowing you to set aside some extra money in a savings account. Then, it’s a case of picking a target and setting a specific amount away every week – this could be $10, $20, $50, whatever you can afford to contribute!
#3 Avoid eating out (or getting food delivered).
So many students waste money on food as they don’t know how to cook, so order food or go to restaurants. This is an incredibly expensive lifestyle to live, the type that only the rich and famous can cope with. Instead, limit the number of times you go out to eat or get food ordered in. Treat yourself once or twice a month, and you can save lots of money every single week.
#4 Don’t buy new books.
Never buy brand new textbooks as it is not worth the money. In college, you sometimes need a whole stack of books every year. This can set you back hundreds of dollars on books you will never use again. Instead, try to borrow books from the college library, or get them pre-owned online. If you do buy them, sell them when you no longer need them to reclaim some money.
#5 Don’t buy drinks when you’re out.
Going out and enjoying the nightlife is a big part of college for many people. It’s a chance to make friends and meet new people, but it can be very expensive. One tip is to buy your own drinks at home, then don’t buy any when you’re out. Drinks in bars and clubs are outrageously overpriced; you’re better off getting cheaper drinks from a grocery store, enjoying them at home, then heading out.
#6 Consider staying home.
If possible, think about the financial benefits of staying at home rather than paying for college accommodation. If you live close to your college, like in off-campus housing in Ohio, and can get there via walking, cycling, or public transport, you could save a fortune. Alternatively, to save more money, you can take your Gen Eds online as an affordable way to fulfill your humanities requirements from home before enrolling in a traditional university or college. We’re talking thousands of dollars during your years of college, all of which can be put towards savvy investments, like a deposit on your own house!”
Follow these tips to restrict your spending and gain better control over your college finances. Slowly but surely, you’ll begin saving more money and wasting less.