Do you ever feel like you have a way too expensive taste for a broke college student? We understand. Cashlessness and college go hand-in-hand. But it doesn’t have to be like that! If you just take notes of these ten great money-saving tips in college, you’d surely be able to save thousands of dollars in your bank account:
1. Monthly budgeting
Rule number one for saving money in college is to set a budget for yourself each month. Start with a simple sheet on your laptop or phone listing the basic expenses like food, transportation, books, etc. Once you have the number, you’ll be able to track and keep money aside for other expenses like partying, shopping, etc.
2. Track your spendings
It surely is difficult to keep track of your spendings every day, isn’t it? To make it easy for you, there are tons of apps that will help you keep the course of your expenses. Use apps like Mint and Pocket Guard that will help you create budgets and set caps on your expenses. These apps directly connect to your bank account and keep track of all your activities.
3. Differentiate between needs and wants
One of the best money-saving tips for university students is to know the difference between what they want and what they need. Prioritize the things you actually use in your day-to-day life and understand what you’re buying just because it’s “in trend” or is something all your friends have.
4. List it out
When you go out grocery shopping, always list out the things you need. This will help you stay away from buying all those unnecessary snacks you’d be bingeing on every night while watching Netflix. Another quick hack to save money while going grocery shopping- NEVER go grocery shopping when you’re hungry!
5. Rent, don’t buy
Books can be quite expensive to buy each year. To save some money, try contacting your seniors to buy/rent second-hand books from them. If not, just take a trip to the university library and lend all the books on your course at once. Another way to save money on books is to rent textbooks online from websites like Campus Book Rentals, Amazon, Chegg and Barnes and Noble.
6. Use public transportation
Public transport facilities are blessings in disguise for students studying in universities. One of the most simple ways to save money in college is to use public bus, train, and metro services. These alternatives to cars and cabs will help you save tons of money in college. If you don’t like the hustle and bustle of public buses and metros, you can also try buying a bike or just walking to the places you can. One of the best money-saving tips on public buses and the metro is to look for student passes and discounts to save some money on regular fares.
7. Make use of student discounts
Almost every store, transport facility and monument has a student discount. All you need to do is ask. The best discounts you definitely should be availing of are Amazon Prime Student, Audible, NY Times, Adobe, Evernote, Microsoft, Apple, and Studentrate.
8. Sell stuff you no longer need
Hoarding is surely tempting but it does more harm than good. Students have tons of stuff in their dorms that they could get rid of by selling and earning some extra cash. Don’t cling to the items you’re not using. Give them away offline or online. Try websites like eBay and Shpock to not just sell, but also buy good quality second-hand items.
9. Pay your bills ASAP
Pending bills and credits can sneakily get you in trouble with a late fee. To avoid paying a fee on late credit card bills, make sure you always pay them on time. Further, you can also use third-party payment apps like Cred to pay your bills and earn points and rewards.
10. Consider eating and drinking in
Now, this might come as a surprise but eating and drinking out take up a MAJOR chunk of your expenses every month. Consider preparing all your meals and freezing them, making your own morning coffee and having Friday night house parties. This will not only help you save some money but also keep you eating clean and healthy.
Use these tips and we assure you- you’d be able to save tons of money by the end of the year. Do you have any personal tips to share with us? Tell us in the comments below and help out students like yourself!