Saving Money in College
Are you in college, the one you worked so hard getting admitted, and want to enjoy it as much as you can? But you have a little money crisis? This situation is more normal than you might think. According to researchers, 76 percent of students polled have gone through the same thing at least once in their college lives.
That doesn’t have to be the case with you. You can go out with your friends all the times you want and not even worry about checking flight tickets prices to go back home all the time. But to spend, you need to manage your money.
Tips and Tricks:
Eat out, but in control: Eating out twice a month is fine, not maybe not five days a week depending on your budget. Limit yourself on this one and avoid eating out, you’ll save a lot.
Don’t buy coffee outside: It may be extremely convenient to go to Starbucks every time you have a coffee craving, but it can cost you a lot in the long run. Instead, buy a coffee maker for yourself and make your own drink.
Rent and resell textbooks: Buying textbooks every semester can be extremely expensive. So, find someone to rent or sell you their old textbooks. And after all, the internet also has many free online versions of textbooks. You can also resell your old textbooks and make some money from the sale.
Cook dinner with friends: Often, you’ll have to cook for yourself. So, plan to cook with your friends and split the amount of groceries. Less food will be wasted, you won’t have to eat alone and the costs will be lower.
Use public transportation: Owning a bicycle is a good idea, because the maintenance costs are much lower versus another vehicle. But other motor vehicles can rack up high bills. You should avoid buying these during your at least your first two years and use public transportation like buses, trains, and subways as often as possible.
Use student discounts: This one can be a lifesaver sometimes. Special discounts are offered at a lot of stores for college students, all you have to do is research and ask. Some of the famous companies that offer student discounts are Alex & Ani, Topshop, Forever 21, ASOS, Lenovo, and Apple.
Don’t get a pet in college: You might be a big animal lover, but caring for a pet can add more high costs to your spending. You should reconsider having one unless you are confident in your financial situation. If you love animals, maybe you can volunteer at shelters instead.
Saving money can be hard during college, but it’s not impossible. All you need is a budget, some planning, and discipline.
Written by Rishita Arora