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10 Money-Saving Tips from a College Student

How I save money as a college student

By Ezrin WaggonerPublished 3 years ago 3 min read
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Here are my tips to save money as a college student.

  • Eat out less - you would be surprised how much the cost of eating out will add up. For college students, this would mean eating at the dining hall on campus (if cheaper because I know some colleges charge more than they should) or making your own food if possible while living on campus. For those not in school, this would look like making food at home. For those days where you don't want to cook meal prep can come in handy.
  • For college students who are able to choose to live off campus, do the math for whether living on campus or off campus is cheaper. It depends on the area and the college you go to, to decide which is cheaper in the long run. Some universities require on campus living for a year or two, if off campus is cheaper ask about exemptions to be able to live off campus.
  • Do not buy things for your dorm or apartment that are not needed. If there are items you do need try your best to get them second hand or off of websites like Facebook market place for a lower price. Shop around on used websites or stores and find the cheapest price for the best quality for the price.
  • Walk, bike, skate, or scooter around over driving so save on gas money. Although you may not think you spend a lot on gas it can add up, especially if you have an older or more fuel inefficient car. This doesn't mean stop driving completely, but if it's only a 30 minute walk and it's safe to walk, choose to walk over driving.
  • If you have an extra room, get a roommate to help cover rent. If you're really desperate, convert your living room into a bedroom for a roommate. If you cannot find one try and find student housing that will assign you (a) roommate(s) after your lease runs out.
  • If or when you have extra money, rather than spending it, save it up for an emergency fund or put it towards next months rent. When you have extra money, put it in a savings account to put a mental barrier in your mind so the money is untouchable to you so you won't spend it and you have it for worse times.
  • When you do have some extra spending money and you need to buy something to replace something that's been broken or lost, or just a new item that you need, opt for reusable over disposable because you will spend less money in the long run even if you spend more to begin with.
  • If the dining hall on your campus is only an upfront cost like a buffet or is part of your tuition, bring a to-go container for leftovers or to just grab extra food so you don't have to spend as much money on food. Or if your school is like mine, you have food for the meals not covered by your meal plan in your tuition so you don't have to spend extra money. If your dining hall costs money, decide whether eating there costs more or less than making your own food or eating out.
  • Before making a fun purchase, save up at least double the amount of money it takes to buy whatever the item is that you are going to buy. That way you can buy the fun item and still have money saved up so you don't have to feel guilty for spending money you don't have.
  • The best way to save money is to budget your income so you don't overspend what you have coming in. You can budget as often as you need to in order to be able to keep track of your income and spending. This can also let you know where you need to cut back on spending so you can save more.

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