In today’s economy, it’s more important than ever to be money savvy. For college students, this means learning how to make the most of their funds whether it’s through scholarships, financial aid, working part-time jobs, or taking steps to cut back on their monthly expenses. Are you a student? Do you want to save more money? If so, listen up as we’re about to explore this topic in a little more detail as we outline some of the smartest ways to save money when in college.
1. Campus Resources
By taking advantage of campus resources, you can get discounts on textbooks, food, and other items. In addition, many campuses offer free or discounted parking, which can save you a lot of money over the course of a semester. Campus resources can also help you connect with other students and faculty, which can be helpful for networking and finding internships or jobs. Overall, campus resources provide a wealth of opportunities and savings for college students, so be sure to take advantage of them.
2. Get a Scholarship
Scholarships can help reduce the amount of money that a student has to borrow, and they may also provide other benefits, such as free tuition, room and board, and books. There are many options for scholarships for college students and in order to qualify, students will typically need to meet certain eligibility requirements, such as academic merit or financial need.
3. Living Expenses
One of the biggest expenses for students is living expenses. Rent, food, utilities, and other bills can quickly add up, leaving little room in the budget for fun activities. Paying these bills is essential but there are ways that students can reduce living costs to save money and cut back on the amount that they’re paying out each week. One way to save money on rent is to find roommates. Sharing a room or an apartment can help split the cost of rent and utilities. Another option is to look for off-campus housing. This can be cheaper than living on campus, and many apartments include all utilities in the rent price.
4. Food and Dining
One of the best ways to save money while in college is to cook your own food. This can be done by either buying food at the grocery store and cooking it yourself, or by eating at the campus dining hall. If you choose to cook your own food, there are a few things that you can do to keep costs down even more. First, try to buy foods that are on sale or in season. Also, bulk cook items like pasta or rice, so you don’t have to be buying perishable items day to day (less visits to the grocery store equals fewer impulse purchases). If you choose to eat at the campus dining hall, make sure to take advantage of all of the coupons and discounts that students can avail of.
How can you save on transportation costs? First, try carpooling with friends or classmates. This can not only save money on gas, but it can also be a fun way to socialize with friends. Another option is to take public transportation instead of driving. This can often be cheaper than driving, and it also helps reduce pollution. Finally, walk or bike whenever possible. Not only is this a great way to get exercise, but it’s also free – it’s a win-win.
6. Technology and Textbooks
Need a laptop? Or a tablet? Consider renting or buying a used device instead of a brand new one. There are many websites that offer both options, and this can be a great way to save a substantial amount of money. If you do decide to buy a new device, wait until the end of the year when there are typically sales going on. Another tip is to use free software whenever possible. There are many great options for word processing and spreadsheet software that are available for free online.