College is one of the hardest times to save money. You’re paying tuition, having to buy your own necessities, and also trying to have fun with all your new college buddies! But don’t worry, there are plenty of ways to save money in college and still be able to have fun!
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Learn How to Save Money As A Student Without Losing Out On the Fun! —>
Limit your eating out
Whether it’s because they’re just going out to go with friends, or they don’t own any of their own cooking supplies, or they just don’t know how to cook… college students tend to eat out a lot!
Give yourself a limit on how much you’re willing to spend on eating out each month, and don’t go over that limit.
Try to cook more, even if it’s something super simple! And look up some cheap meal ideas that require little to no knowledge about cooking.
If you are going to eat out, use the app Campus Special. It helps you to find the best deals on places to eat around your school. You are able to order straight from your cell phone. The more you use the app, the more points you can earn. You can later redeem the points at different restaurants for free food! How cool is that?!
Look for free events
There are a ton of free or cheap events to go to, especially around a college campus! So before you go to some pricey concert, look for a cheaper alternative.
Look for fliers around campus, or look for a facebook page that talks about events happening around campus.
Use Your Student Discount
A lot of places offer a student discount, so make sure to ask about it often! Movie theaters, grocery stores, and even Amazon Prime offer student discounts!
Electronic stores also offer discounts on laptops and other electronics too!
Try to walk or bike as often as you can. If you avoid driving you can save on gas and car repair. If you ditch the car completely you can also save by not having a car payment or car insurance.
There are often student discounts offered on public transportation as well!
Find affordable housing
Shop around for the best deal on housing. Whether you go with a dorm room, and off-campus apartment, a private room, or a shared room, you’re likely to find a better deal if you are willing to take the time to call around.
Put money away
No matter the amount of money you make, make sure to put some away each time into a savings account. Even if it’s only $20 a check… it’s better than not having savings at all. Now is the time to start building a savings account!
Putting money into a savings account is a really good habit to get into. You never know when you’re going to need extra money. Whether it’s for books you need for a class, tuition, a deposit on an apartment… a savings account will save your butt one day.
Create a Budget
It’s so important to get into the habit of creating a budget at a young age. A budget is basically a plan as to where your money is going to go, and a way to reflect on where your money has gone.
Check out our Easy 6 Step System to Creating a Budget that Works
Apply for scholarships/Financial aid
First, always apply for financial aid to see if you qualify for a grant. College is expensive, take all the help you can get!
Apply for as many scholarships that you can. Even if they aren’t even related to your major, or if you think there’s no way you can get it. Free money is FREE MONEY! There’s no harm in trying. And besides, those essays are going to be great practice for you. (;
Don’t buy new
Don’t buy anything new unless you have to. Textbooks especially! Always look for used bookstores, check Amazon and eBay. You can even look into renting them as well.
This goes for everything. Don’t buy brand new furniture for your apartment. Don’t buy a brand new car. Always go for used whenever possible.
Beware of credit cards
Sure, you’re old enough to go out and get a few new credit cards, but should you? Not only no, but heck no. Credit cards can be a dangerous thing. First, by going out and applying for multiple credit cards, you’re hurting your credit. Your credit takes a hit every time someone checks it. Second, getting into credit card debt that you can’t pay off sucks!
Getting A credit card can be beneficial for building your credit, but only if it’s done the right way. And the right way is:
- Start with 1 credit card
- Never charge more to it than you can pay off
- Pay it off each month, never let it build up
The best time to learn about your finances is before you’re in a position where you’re struggling. Learn about your credit score; what it is, how you can hurt it, and how to build it. Learn about interest rates; what’s a good rate for a car, a credit card, your student loans, etc. Learn about different savings accounts and credit cards. Don’t make financial mistakes that you will be suffering from for years to come.
Check out these 7 Important Financial Tips for College Students.
What other ways have you found to save money as a college student?
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