5 ways to save money in college

5 ways to save money in college

Make a budget and stick to it

This is probably the most important tip. It’s easy to spend money on a cheap dinner here or a nightclub cover charge there. But the even the cheapest of little things will add up if you don’t keep track of them. Learn how you are spending your money over the course of a couple months so you can determine what you can cut out to add to your savings or be used in different areas.

Avoid Credit Cards

With money being as tight as it is, it’s very tempting to throw purchases on a credit card with the intention to pay them off shortly after. Especially considering how easily accessible new credit cards are on college campuses and the free gifts given as incentives for signing up. Try to avoid this as much as possible. Those cards are easy to sign up for and that t-shirt is cool, but the interest rate on those types of cards tend to be really high so you will end up paying at least double for what you purchased by the time you pay it off.

Become a Resident Advisor

After tuition and books are paid for, room and board are the next biggest expense to be paid for. Getting a job as a Resident Advisor often comes with free or significantly reduced housing in exchange for working a job that is essentially working from home.

Learn to love roommates

While finding the right combination of people to live with can be tricky, sharing a space with others will result in lower rent and utilities. Also, the location of your living space can be a key factor in your budget. While you may find cheaper rent further from campus, factoring in addition costs such as transportation and parking may actually make it more expensive to live where the rent is cheaper.

Take advantage of that student discount

You are issued a student ID, don’t be afraid to use it! You can find student discounts for a lot of things ranging from computers to movie tickets. There are a lot of travel discounts through Amtrak and Greyhound as well as cheap flights if you know where to look.