How to Save Money in College
Saving money in college can be a challenge, but it doesn’t have to be impossible. There are all sorts of different ways to save money – you just have to be creative!
Tips for Saving Money on Textbooks in College
Don’t Buy Books: Do you really need to buy books? In some classes you may, but for many others you will be able to get by with just researching the things your teacher talks about on the internet and at your library. Most teachers do not require you to do assignments that are textbook specific, though some courses it may be inevitable, such as a math course.
Rent Textbooks: There are many programs now that let you rent textbooks instead of purchasing them. This can offer significant savings for some courses.
Share Textbooks: This is risky for some students as some are more responsible than others, but if there is someone you trust and you both are taking the same class, you can split the cost of the book and then make copies of it. (this by the way is illegal as it is copyright infringement, but it’s an idea)
Buy Textbooks Online: Books online and used are always cheaper than the ones in the campus bookstore.
Your Dorm Room & Living Expenses
Research Meal Plans: Most campuses offer meal plans and flex accounts that can help you save money on eating. Research which one best fits your needs and gives you the most options. If you hate the campus food though, you may instead want to try a different option.
Buy Cheap But Nourishing Food: Potatoes, eggs, and frozen vegetables are all super cheap and nourishing foods you can eat in school. Avoid junk food which is expensive but offers little to no nutritional value.
Drink Water: Soft drinks and energy drinks can add up and deplete your budget very quickly. It’s okay to treat yourself occasionally, but drinking free tap water in a reusable water bottle will save you more in the long run. If you absolutely do not like water, consider brewing your own tea or coffee or making drinks yourself.
Share Groceries With Others: Buying in bulk at stores like Sam’s Club or Costco can be helpful, though you need to be careful to not overspend. Splitting a case of Ramen noodles or energy bars though can help you and your friends reduce costs. You may also want to consider sharing and splitting up things like bars of soap, shampoo, etc. etc.
Be Energy Conscious: Most dorm rooms don’t charge extra for utilities, but if you are renting an apartment you will want to make sure you do not go overboard on heating and electricity bills.
Think Reusable Instead of Disposable: Paper plates, cups, towels, and other disposable items sure add up quickly – so if possible go with reuseable items. For example, use a BPA free water bottle instead of buying bottled water, wash your own dishes, and try to resuse things more than once.
Dress Like a Dork: Haha, no not really. But you don’t need new clothes or to stay on top of fashion. No matter what you wear today, you will look back at yourself in photos 10 years from now and laugh. Might as well save money now!
Shop at Thrift Stores: There are tons of thrift stores to buy cheap furniture, clothes, and other items.
Shop Online: There are a number of different ways to shop online to find the things you need. Check online classifieds sites and auction sites to see what you might be able to find for less than what you would pay new.
Entertainment
Look for Free Events: Most colleges have free concerts, seminars, and clubs you can join. Check local fire departments, libraries, and churches for other things going on around town.
Stay Home: Instead of going out with friends, look for free things you can do on or around the campus. For example, you could organize a scavenger hunt, play board games, play frisbee, or watch movies.
Get Rid of the Car: Having a car at college is a nice luxury, but most times is not really necessary. Not only will you have to pay for gas and insurance, but you’ll also likely have to worry about parking fees and fines and if you have a car payment how you will find a way to pay it.
Get Exercise: Going for a walk or jog around campus is fun to do and gives you a good workout also – for free! No need for a gym membership while at school (unless it is included free as part of the tuition).
Don’t Drink Alcohol: Alcohol is just not bad for your or a poor academic decision, it can be very expensive as well! Skip the parties with a cover charge and don’t be tempted by $1 draft nights every week either.
Savvy Financial Advice for College Students
Don’t use Credit Cards: Avoid them as much as possible, only using them for absolute emergencies.
Refinance Student Loans & Start Paying Now: Paying off student loan debts as you incur them can help you save on interest charges and owing over $30,000 later down the road. Pay more than the minimum monthly payment to help reduce the amount of debt sooner.
Don’t Go to College if You Don’t Know What You Want to Do: If you’re not sure what type of career or life calling is for you, then maybe you should wait to go to college or take community college courses first. There’s no sense in paying $30,000 in college tuition if you’re not even sure you like the subject you will be studying!
Don’t Borrow Money: Borrowing money from family or friends is no better than racking up credit card debt, and it could hurt your relationships as well!
Get a Job: A Part Time job can help you stay on top of your finances by having income. If there are not many employment opportunities near you, consider finding work online by becoming a freelance writer or offering other services you can do over the internet.
College is a big expense, but there are hundreds of ways to save money while you are getting your education. For more money saving tips, visit Simply Save Money for even more ideas on ways to save!
Category: Campus Life
