How to Save Money in College: Saving money in college may be the last thing on your mind while you’re already studying.
How to Save Money in College
However, developing responsible spending habits early on can provide you with a significant financial advantage.
Consider being able to pay off your student loans or other debts immediately after graduation, or even put down a down payment on a home.
While there are numerous approaches, we understand that even the most financially savvy individuals can become overwhelmed.
This is why we’ve compiled a list of smart ways to save money in college.
Ways to Save Money in College
These are the top ways to save money in college, kindly browse through them all or jump to the one that piques your interest the most:
Buy Used Textbooks
Textbooks are a necessity, but buying them new is not. Buying used textbooks or renting them is one of the easiest ways to save money right off the bat.
Cook Your Own Food
Many college students are on meal plans, but if you aren’t lucky enough to have your meals paid for, cooking your own food is the way to go.
Eating out can be expensive and add up quickly.
Split Rent with Roommates
If you live off campus, living with one or more roommates is a perfect means of learning how to save money as a college student.
Enjoy the most savings by renting a house with several rooms and splitting the rent with as many roommates as you can find.
Brew Your Own Coffee
While bistro coffee may seem like a small expense, it can add up quickly.
The average price for a standard cup is $2.70, which adds up to almost $1,000 a year. Brewing your own coffee cuts these costs significantly.
Plus, you can split pots (and costs) with your roommates!
Use all Available Campus Amenities
Campus amenities, like free or discounted health care and counseling, free activities, child care, and the library should be utilized whenever possible to help with saving in college.
Why spend your own money on services offered for free?
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Buy a Bike in Lieu of a Car
Having a car can be convenient, especially if you don’t live near campus.
If you’re able to, however, using a bike to get around can save loads of cash.
Not only are you not paying car payments or footing the bill for repairs, but you won’t need to pay for gas.
Use Your Student Discount
Many companies offer student discounts on things like activities, clothing, and food.
Take advantage of the discount whenever possible and save the difference.
Buy Food in Season or on Sale
Many people don’t realize this, but fruits and vegetables that are in season are often less expensive.
Sticking to foods that are local, in season, or on sale can offer you significant savings.
Ditch Bottled Water
Bottled water isn’t necessarily expensive, but drinking filtered water from the tap is significantly cheaper.
In fact, drinking three bottles of water a day can add up to $1,095 a year.
That same amount of tap water would cost you less than a dollar per year.
Buy Discounted Electronics
We mentioned student discounts for smaller purchases, but there are also discounts available at companies such as Apple, Best Buy, Dell, and Microsoft.
If you use your discount for larger expenses as a way to save money in college, you will most likely notice a significant cost difference.
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