Did you realize that eating Top Ramen every day for a year will cost you less than $150?
While it is a mainstay of college students’ meals, you don’t have to abandon your meal plan and gorge yourself on noodles since there are lots of other wonderful methods to save money in college.
11 College Money Saving Strategies
Here are 11 solid strategies to save money in college that you can begin doing right now!
1. The budget
While it may appear tedious, this is an important step in saving money.
Making a budget for yourself is one of the most important methods to save money as a college student. Making a plan for where your money is going each week or month will help you stay thrifty and responsible.
Housing may be an expensive expense for most colleges. While it is usually little in comparison to tuition, the location and quality of accommodation you choose might have a significant impact on your college costs.
If you can avoid paying your school, you can commute from home or somewhere cheaper off-campus. If you don’t want to commute, having a roommate (or two!) always lowers the cost of housing, as does choosing between suite-style and apartment-style living.
3. Modes of transportation
Where you go and how you get there can also have a big impact on your college expenses. You must choose what works best for you in terms of public transit versus owning a car versus carpooling.
If you live on campus, carpooling instead of owning a car can save you a lot of money on petrol and insurance. You’ll also meet new people in the carpool!
While filling out the FAFSA may be time-consuming, it is an excellent tool to assess how much money you can get in federal help. It takes some time, but it is worthwhile in the long run if you are looking to receive financial assistance in this manner.
You only have to do it once a year, so it can’t hurt to bite the bullet and fill it out when the time comes.
Saving money is one of the advantages of renting textbooks rather than purchasing them outright. Both offer advantages in that you may make money by reselling and save money by renting textbooks.
It all depends on your personal tastes!
While the ramen joke was a joke, the way you spend money on food is an excellent method to save money while at school.
Limiting your dining out with pals might help you save money (particularly if you have a budget!) You may also check into the various food plans that your school provides to see if there are any cheaper choices that meet your diet.
Scholarships are available.
Scholarships are one of the best ways to save money at college. Earning scholarships is basically like getting gifts for working hard at something!
That means you should put in extra effort in school and look for other scholarships to apply for. Typically, schools award scholarships to students who apply each year, and there are numerous scholarships available to college students worldwide.
8. Graduate on time (or sooner!)
Graduating on time will save you a lot of money since you won’t have to pay to attend school. This also applies to graduating earlier: you save money on tuition, lodging, and board because you won’t be there!
Of all, it all depends on how much work you can manage.
If you can graduate early, you will save a lot of money and have a head start on your job search. Then you can start working on paying off your student loans even faster!
Working on or off campus might help you maintain a consistent cash flow while in school. Then you’ll always have some money to set aside and save over time, as well as some to spend now and then.
Many colleges and universities feature on-campus career possibilities as well as work-study programs that you may find useful. Don’t overlook the allure of private work like babysitting!
Working makes a huge impact in terms of saving and spending money properly.
When it comes to saving money, conserving your utilities may make a major impact. Being mindful of not using too much electricity or water, as well as not using A/C or heating when possible, all add up.
Let us not overlook how these changes can benefit the environment! You’ll be saving money while also helping the environment.
11. Make Objective Decisions
Finally, when buying, be honest about what you need and don’t need. We all know it’s fun to spend a little money on things we don’t necessarily need, but be mindful of how frequently you do so.
There are also numerous enjoyable ways to obtain the items you seek, such as visiting the nearest thrift store with your friends. It’s fine to make purchases, but make sure they serve your needs rather than your wants!
B.F.A. in Money Saving!
And there you have it – with these 11 strategies to save money in college, you’ll at the very least graduate with a BFA in financial savvy!
For a variety of reasons, higher education may be stressful. You’ll be learning a lot, from huge examinations to licenses to GPA, not to mention the social components.
But money does not have to be one of those stressors if you follow these helpful tips on how to save money in college.
Make sure to check out some of our other posts for more interesting reads, and check back soon for more content!