Hurray! You are in college.
Now you want to find out how to save money in college, right?
Saving money in college, although it may seem like a daunting task, is not really that hard. Like everything in life, a bit of desire and dedication is necessary to accomplish it.
According to Marketplace, 70% of students finish college covered in debt. But what about the other 30% then?
Imagine being among the latter and finishing college debt-free. Sounds appealing, right?
Learning how to save money as a college student might just be something between you and your debt-free life.
That being said, tips to save money in college applies not only to students but to anyone and everyone who is looking for budgeting tips for college students.
Whether that is a friend or a parent there is something for you to get out of this read.
Cut Unnecessary Costs
The very first step to learning how to save money in college is to cut all the unnecessary costs. Unnecessary costs can be anything from buying things that you don’t need, to buying things you think you need but you actually don’t.
You don’t need to go out every week or order that pizza when you feel lazy to cook. First of all, you have no right to be lazy when you are a student. That in and of itself is something that needs to be cut out of your life immediately 🛑
If you are a female person reading this, then you don’t need to own a variety of nail polish or lipstick or other female-y items. Boys at college usually are dump and they don’t notice all that anyway.
This one applies regardless of who is reading whether a boy or a girl. And it’s that you don’t need to upgrade your phone, own new headsets, perhaps buy that laptop. That applies to buying textbooks that you won’t ever need again.
Those electronics are expensive and owning more than one of them for the whole duration of the study is a total waste of precious funds, and goes against ideals of money saving tips for college students.
Understanding how to save money in college is something that every student has to come across with once in a lifetime. Because it is the place that prepares you for the real-life out there.
That is why, making a list of things you don’t need or be able to cut the costs off, should be your responsibility. Thus, make a list on your own depending on your needs and wants. Identify what you can sacrifice, what you cannot before moving on to the next step.
Saving Money in College From Accommodation
One of the first things you should consider is finding a place to stay. When you want to know how to save money in college this could get really tricky. However, living in a student dorm in/nearby campus might be the best way to save money in college.
You should consider living off-campus if that option is going to be cheaper. And it is in most cases. But the focus of this paragraph is not to have you live far or near from anywhere. Just cheaper regardless of where, and it is to give you tips to save money in college.
But ways to save money in college don’t stop just there. You can and should have a roommate to drive the cost down considerably.
Also, certain perks to having a roommate, for example, you can share the price of other things like bills and entertainment, etc. all of which are useful money saving tips for students.
The real advantage lies in the fact that you probably won’t die of boredom and loneliness. Having somebody that you get along with or can get along with, thus, is very important.
That aspect doesn’t just depend on the other person though. It also depends the whole lot on you.
Another one of the perks can be when teaching each other how to cut hair and buy a machine to cut each other’s hair. This isn’t only cheap but also very convenient.
In fact, once you guys gain a certain level of experience, you can start offering your services of the barber-ship to your fellow students. That is a business idea for ya 💇♂️
On-campus Housing to Save Money in College
Although, it may be cheaper to live in a shared apartment. You won’t have a gym or swimming pool, etc. Living on campus lets you take full advantage of all the amenities available.
Besides, you will be closer to the library and the library is going to be an important part of your money-saving tips for students strategy.
When living in the dorm you can also apply for campus part-time jobs, or apply to become a resident assistant. Well, in general, there are a bunch of other jobs available, Easy Part Time Jobs will help you with your search.
But the real benefits come from having the opportunity to be able to network with professors or other students.
Finding a part-time job should really be the core of your saving money in college effort. Because, when you have a steady income, be it small, you won’t have to be way more frugal and go as far as saving on coffee cups like some advice. You will be able to at least afford to buy some coffee every now and then.
However, limiting those consumeristic behaviors is always a good idea regardless of how much money you make. And the best way to save from coffee is to brew it yourself.
You might just need to buy a thermos-cup to keep it warm in the winter. Perhaps, buy the summer version of it for when the days are warm. But that won’t bankrupt you.
Additionally, apart from the drinks, you should make yourself, you should also be cooking for all mealtimes. This not only can drive the cost down significantly but also be a healthier alternative.
Knowing how to cook is like the secret of how to save money in college. Yet this skill is going to help throughout your entire life.
How to Save Money in College From Entertainment
Having fun is probably the next big reason people go to college. This is true even when you want to save money in college. In fact, saving from entertainment could be the biggest sum compared to other aspects.
But it doesn’t mean you shouldn’t have fun. It only means that you spend less and try not to spend it all. For example, if you are in college attending a frat party could be a cheaper option.
If you insist on going out, then consider only the places where they have a student discount, or arrive at a happy hour. Using coupons is also one of the great ways to save money in college.
Easy money for college students doesn’t exist. So, you have to find alternatives to everything if you want to be a college student saving money. That also means not buying phone packages. Because who needs the cellular call when there is wifi, and many alternatives to calling it.
Even many older people at this point have Whatsapp, or Facebook Messenger, or other means of online communication apps. So, contacting them through that shouldn’t deter you from saving money in college.
Moreover don’t pay for streaming services like Netflix or Hulu. Watch pirated versions instead. Of course, this seems unfair or illegal. But if you really want to know how to save money in college, this is one of the easiest ways to save.
There are a bunch of online websites where they always upload new movies and TV shows, or you can check these Putlockers alternatives to watch movies online.
You shouldn’t feel guilty about watching something that is pirated already; it isn’t quite your fault nor is it your responsibility to fix it, especially when you are a student and half broke all the time.
Money Saving Tips for College Students
How to make money in college? The best way how students can make money is by not spending it. Because when you are a student, unless you took a small loan of $1 million from your father, money can be hard to come by.
Before you look for how to make money as a college student, you should first understand how to save money in college. This, as we have been explaining, needs you to cut a lot of expenses. And adapt to new budgeting tips for college students whereas you will be living minimalistically to save.
In fact, our world has become so consumeristic that when the word gets out about saving, people immediately jump to the conclusion that it means living frugally. It really is not, you still can buy the necessary things.
But you need to consider twice before buying that cup of coffee from Starbucks. Because you were late for the class. Wouldn’t it be better to go to sleep earlier and wake up on time and have breakfast or coffee before the lectures?.
This mindset shift is how college students save money. Yet this is helpful and will be helpful throughout your life. So, then why not then learn a few of the life lessons in college together with the school staff, rather than limiting yourself to just the classroom.
After all, real-life starts only after college when you probably will need creative ways to save money rather than money tips for college students.
If case if slimming down has little to no effect because you have already minimized your expenses, check out these 32 Ideas to Make Money as a Teen.
College Students Save Money By
Buying a car when you are a student may be cool. But it will come with costs associated with its coolness. When you are looking for ways to save money in college. Not owning a vehicle could be the key to a better future vehicle.
Public transportation is meant for two types of people, one is students, and the other is everyone else. You are already accounted for😉😜so that you read about how to save money in college.
Try to buy everything you need from thrift stores or discounted shops. Apart from clothes, there are a whole bunch of other necessary items for living that you can buy online or from thrift shops. For example, you might need a table and a chair to do your homework.
Instead of buying that Ikea table, just find someone on Craigslist or eBay. After all, the only requirement you should have for the table is that it can hold some books and electronics.
Most importantly you should never be late on any payment. This will drive you more in debt than help you save money in college.
One way you can make sure you are never late on any payment is of course by working part-time as we talked about in earlier chapters.
One important point is that you shouldn’t get a credit card. No matter what other people say when you are a student. Instead, own a debit card where you can’t go over the limits.
If you don’t understand the difference between various cards, read about Charge Card vs Credit Card to understand more.
And when it comes to paying back without much income, you will falter on those payments which will make your situation worse. Thus, staying away from any kind of credit is a wise way to save money.
Tips to Save Money in College
In addition to working part-time jobs, the best way you can make some money is if you work during the summer. In fact, summer jobs couldn’t only let you save money in college but also help you pay for it, or use that money for other necessary things.
Instead of living frugally and saving on everything you get, you could live like a normal person and still end up debt-free in the end.
Earlier, we mentioned you shouldn’t travel. But that only meant on your own budget. The best way for you to travel would be if you took up a summer job abroad, in Europe for example.
By working abroad during summer, you will get to travel and see other countries plus make a little bit of extra money that you can buy Starbucks coffees with. Because you probably won’t make enough to pay for the whole tuition if you travel abroad. but is still an option if you really want to travel.
Depending on what is really important for you, whether to pay for the tuition or to travel, you get to decide accordingly.
Among the money saving tips for college students, the best way should be focusing on studying and winning scholarships.
Almost every college or university offers scholarships and financial aids, but not to everyone. Making sure you are the one they offer is the surefire way how to save money in college.
It is also the best way to save money in college because if you were to focus on studying and reducing the tuition fees at which point you wouldn’t have to do any of the above.
Main pointers before we wrap up:
- Cheap accommodation;
- Use everything free from the school;
- Basically no fun for money;
- Part-time jobs, or summer job;
- Cooking your own meal;
- Study well;
How to make money in college tips by no means is final. It is a subjective piece of work as most writings are.
So, you should take the responsibility for your finances yourself and come up with new ways to save money in college if you are really looking for money saving tips for students.
Yet, the best way to save money is to make it and these Apps Help You Make Money fast without you spending hours and hours toiling.