As many are painfully aware, studies can be notoriously expensive. Being able to save some money as a college student should give you a way to more easily bridge your expenses and make ends meet. To learn more about six money-saving tips for college students, read on.
Students’ Money Problems
Students are particularly financially vulnerable. Not being able to make much and being exposed to a lot of expenses, such as dormitory expenses and costly college books, can quickly draw a lot of your funds. For this reason, it is necessary to save some cash, and the best way to do this is by cutting back on the non-essentials.
To help you do this, here are some ways to optimize your spending. College is expensive, so being realistic about how much you can spend can help you in the long term. Here is our hand-picked advice on how to save as a college student.
Back Down on Non-Essentials
If you buy a lot of magazines and are prone to impulse shopping, uninstall your Amazon app and stop visiting stores that make you spend more money than you should. You can even save money on coffee – 3 visits to Starbucks a week add up to more than $1,500 per year. Be realistic about what your needs and what your wants are, and always favor the needs.
Quit Bad Habits
If you smoke or drink too much when you go out, cut back on these habits. A beer can easily cost over $10 and cigarettes at least that much. Saving $50+ a week gives you some serious cash to work with, so if you want to save, this is the second-best place.
Cancel Your Subscriptions
We are often not even aware of how many subscriptions we have. Cable, internet, magazines, Grammarly, gym memberships we never use, and discount clubs all take a bit of money every month, but it all adds up in the long term. Save this money instead of giving it away and hit the jogging track next time you feel like exercising.
Buy Used Books
Books are notoriously expensive. Spending $400 per book per course is nothing unheard of. Instead of getting the newest books every semester, look for used books and use them instead. The matter is most likely to be the same, so spare some cash and look for useful notes on the margins. That’s how Harry got through his Potion’s Exam in the sixth Harry Potter book, after all.
Invest in a Bike
As a student, you most probably have no car. Buying one can cost a lot, even if the car is cheap. Gas and maintenance, plus the parking, can cost hundreds a month. Taking an Uber can also cost a lot, so investing in a bike is the best thing to do. Make sure it is light and of high-quality materials to avoid any injuries and high maintenance.
Take Up a Job
Although not exactly a money-saving tip, money-making while in college is a great way to have more control over your budget. Go for a local or an online job, and in just a few hours a week, you can make decent money. Ask yourself: ‘who can do my research paper for me’ and delegate a part of your workload to the person. This way, you’ll have more time for your part-time job.
Being financially stressed in college is taken as normal, although it should not be. Being able to afford all the things you need even as a young adult should be normalized, as this is the only way to reach a healthy relationship with money. So, start saving today for a better tomorrow and build useful habits early on.
Ashley Carter would love to move to Europe one day and work as a landscape designer there. She loves art and nature, so this would be a perfect chance for her to marry the two loves. She loves American pop music and spends her free time listening to new releases.