25 Ways You Can Learn How To Save Money In College. The idea of saving money in college might sound impossible – but it’s very possible if you do it right.
For most college students, this is the first time they are going to budget and manage their own money. You might not know all the tips and tricks to save your money. That’s what this list is for.
Imagine being able to pay off your student loans or other debt you are owing and enter the labor market debt-free.
However, you might be thinking how can a college student save money? Here’s a list on how to manage your money and save money in college.
These all come from experience. If you have more ideas or suggestions, you want to share with us, leave a comment below!
So, without further ado, Let’s dive in on the best ways to save money in college! or money-saving plan for students.
How To Save Money In College
The best way to start saving money in college, whether to pay your debt, for retirement, to buy your first house or some other large purchase, is to cut costs in smart ways.
- Buy used textbooks: Textbooks are a necessity but can be surprisingly expensive. Buying used textbooks or renting them from Amazon.com is one of the easiest ways to save money
- Always be with your student ID: Discounts are available on almost everything from clothing to laptop and notebook computers for those with a valid student ID.
- Share your room with someone: If you live off-campus, sharing your room with one or more persons can help cut costs significantly.
- Use all available campus amenities: Campus amenities, like free or discounted healthcare and counseling, free activities, childcare, and the library should be utilized whenever possible because they are offered free.
- Do stay focused on your studies: Many students don’t complete their degree within the stipulated years because they were not focused, and every additional semester is another big expense.
- Buy food that is cheap or on sale: Many people don’t know this, but fruits and vegetables that are in season are often less expensive and affordable.
- Buy discounted electronics: Always take advantage of discount electronics from companies like Apple, BestBuy, Dell, and Microsoft.
- Cook your own food: Many college students get food for free, but if you aren’t lucky enough to have your meals paid for, cooking your own food is an option. Eating out can be very expensive and add up quickly.
- Spend spare time in nature: If you have a park, river spot, beach, or hiking trail close to your campus you should utilize it. Spending time in nature is very good for you.
- Use public transportation: If you need to a far distance, use public transportation in your area. Although it usually takes longer, it’s usually inexpensive.
- Join clubs and attend events that offer free food to people: Many campus clubs offer free items like free teeshirts and free food at events. If you find one you’re interested in you can join them and enjoy the benefits.
- Always pay your bills on time: Many landlords, utility providers, and services charge fees for late payments. These can add up very quickly, so it’s good to ensure your bills are always paid promptly. If you’re able to set your bills on automatic payments, that’s good.
- Conserve energy: Keep the A.C. or heater turned off and always switch off the light when you’re leaving a room. Not only is it good for your appliances, but it will save you money.
- Learn how to hand wash your clothes: Some clothes require special care when washing them, but dry cleaning is expensive. cultivate the habit of washing your wears yourself to save money and preserve your nice clothing.
Food and Goods
- Buy things in bulk with your friends: Items like toilet paper and cleaning products are significantly cheaper when bought in bulk. Find a friend and split the cost of bulk items like these.
- Make dinner with your friends: Large amounts of food are usually less expensive than smaller amounts, meaning it’s more economical to share home-cooked meals with your friends or roommates. You can decide who buys and cooks or simply split the bill, either way, you’re sure to save.
- Freeze food that is about to expire: Many people don’t know that you can freeze foods like cooked meats, soup, berries, baked goods, and even butter. To save money (and prevent food spoilage) freeze foods that are nearing expiration and enjoy them later.
Financial Best Practices
- Avoid interest fees: If you have credit cards, always pay them off in full every month to avoid interest fees.
- Get insurance: Always compare prices for costly items like car and renters insurance as different places will offer different pricing. Figure out what kind of coverage you need and pick a company that works with your budget.
- Use budgeting apps: There are many apps that can help you plan a budget, plan savings, and keep track of spending. Many of these apps are extremely low cost or free, so there is no reason you shouldn’t be using one of them.
Creative Ways to Save Money
- Apply for scholarships: Scholarships award prizes like money to students based on merit or need. Find out which scholarships you are eligible for and apply as soon as possible. You never know, whole school fees could be paid for!
- Don’t fail classes: If you fail a class you will have to repeat that class and pay to retake it. Avoid missing classes as much as possible by showing up for class, do your homework, and studying hard for tests.
- Share textbooks with friends: If you have a friend in the same class as you always plan to study together, it will pay off to share textbooks.
- Start a side hustle: Having a side hustle is a great way to make extra money as a college student. You can drive as an Uber driver, deliver packages for Amazon or Postmates, clean houses, or design websites for people.
- Don’t buy school items you won’t use: Most students these days use their laptops for jotting notes in class. In fact, most exams and tests are taken digitally these days. Avoid buying school items like pens and paper if you don’t really need them.
This is a list 25 Ways You Can Learn How To Save Money In College. If you have more ideas or suggestions, you want to share with us, leave a comment below