College students are notorious for overspending and racking up debt – but it doesn’t have to be that way. If you learn how to save money during college, you’ll not only be able to put yourself in the best financial position for graduate school, but also reap all the benefits of the extra cash you don’t spend. These seven ways to save money while in college will help you put your money where it counts most, so you can focus on getting the most out of your college experience.
7 Ways to Save Money While in College
1) Work-study programs
One way to save money while in college is to participate in a work-study program. Work-study programs provide students with the opportunity to earn money while also gaining valuable work experience. Plus, the money you earn can be used to help pay for tuition and other expenses. You can even use it to cover some of your personal living costs like food or entertainment.
2) Sign up for a frugal meal plan
Eating out can be expensive, especially if you do it multiple times a week. Meal prepping or signing up for a frugal meal plan can help you save money and eat healthier. You can also save by bringing your lunch from home instead of buying one from the cafeteria or a nearby restaurant. Pack an extra lunch on days when you are doing an internship off campus so that you don’t have to buy food twice as often.
3) Get a job, student loans are expensive
If you want to save money while in college, one of the best things you can do is get a job. Not only will this help you cover some of your expenses, but it will also give you a chance to learn new skills and build your resume. So whether you are a privacy expert and want to protect people from being a victim of counterfeit ID, or like to make coffee, getting a job will definitely be useful for you. In addition, student loans are expensive and taking out too many of them could affect your credit score negatively. Lastly, if you find that you have extra time on your hands after getting a job, consider starting an online business or investing in stocks to generate additional income.
4) Borrow books instead of buying them
There’s no need to spend money on books when you can borrow them for free from the library. If you do need to buy a book, try to find a used copy online or see if you can split the cost with a friend. You can also save money by renting textbooks instead of buying them. And don’t forget about e-books. They’re often cheaper than print books and you can carry them around on your laptop or tablet. When it comes to textbooks, do your research before you buy. There are a number of ways you can save money on textbooks, such as sell back options and price comparisons. By doing your research, you can ensure you are getting the best deal on textbooks and other school supplies.
5) Stay with friends
One way to save money while in college is by staying with friends. This can help reduce living expenses such as rent and utilities. Plus, it can be a great way to socialise and build relationships.
6) Use your library as much as possible
Your college library is a great resource for textbooks, research materials, and more. By using your library as much as possible, you can save money on books and other course-related materials. Plus, the library is a great place to study and do homework, so you can save money on things like coffee and gas.
7) Grocery shopping
When going to the grocery store, buy less expensive items. If you have time during the week, shop at stores that have sales or clearance racks. When buying food in bulk make sure it’s something that will be used before it expires. Buying food in bulk can save you money but only if it will be eaten before it expires. If not, you may end up throwing away food that could have been eaten.