How to save money in college? Can students save money without depriving themselves during college life?
Almost every single college student faces these significant questions at some point in their life. Well, inculcating money saving habits help students balance their life. In my current blog, I will share effective ways to save money in college.
How to Save Money in College? – 19 Effective Ways That Really Work
Students can save money in college just by paying attention to their spending habits. Take simple actions by following my tips to save money in college.
Let’s see some implementable ideas to start saving in your college days-
1.
Spend More Time in Library to Save Money on Books
Make the best use of the library at your college. You can save so much money on costly books.
Make it a habit to sit at a library to read books for free.
Also, have a library card to get some books to study at home.
2.
Avoid Joining Overhyped Colleges
There are many overhyped colleges. These colleges charge so much fees and donations to students while taking admission.
Make sure you don’t get trapped in such colleges. You don’t need to join there and spend a lot of money just because your friends are taking admission there.
3.
Make Use of Your of Student ID to Save Extra Dollars
Carry your student ID wherever you go. Be it visiting a museum or a park or garden, there are many places where students get discounts on entry fees by showing a student ID.
So, always carry your student ID while going out. This helps to save money while you are a college student.
4.
Learn Skills by Joining Free Courses Online
Learning new skills are much needed for college students. But this does not mean you have to spend more money on classes or courses.
There are many free online courses available on different websites for college students. Enroll yourself there to learn different skills for free.
5.
Ride a bicycle as a College Student to Save on Fuel
There is no need to own a car to drive to college. Instead, you can ride a bicycle while going to college. This saves money on fuel.
Also, you don’t need to pay huge amounts for insurance, parking, servicing unlike for a car. So, avoid all such extra expenses by riding a bicycle.
6.
Do Not Spend on Costly Entertainment During College Days
Seek for free entertainment during your college days. Do not waste your money on costly entertainment.
You can play games, sports, follow hobbies etc. Instead of buying costly entertainment.
7.
Look For Internships to Earn and Save Money as a Student
There are many ways to earn money as a student along with your studies. You can save more when you start earning on your own.
Take internships during your vacations. Also, look for freelancing work to complete small works and get paid.
8.
Borrow Books From Your Seniors to Save Money on Textbooks
Buying a brand new college textbook is like making a big whole in your pocket. Textbooks cost you so much.
So, borrow second hand textbooks and notes from your seniors at college. This way you can get textbooks for free or at half of their prices.
9.
Avoid Using Credit Cards as a College Student
Don’t get trapped into credit cards. No doubt, credit cards help us to pay or buy things even if we don’t have money right now.
But if you do not use your credit cards mindfully, you will have to pay huge fees and interest in upcoming days. So, try to avoid or minimize the use of credit cards as much as you can.
10.
Have a Student Saving Bank Account
As a college student you must have your own savings account. Well, you should also visit banks to get updates about new schemes for students.
Banks usually create many new schemes and offers for students. Such schemes help you a lot to save extra money.
11.
Don’t Spend Too Much Money at College Canteens
College students usually spend more money on junk food and eating outside.
So, always carry your lunch box to avoid eating outside food. This saves money as well as your health.
12.
Cancel Expensive Trips with Your College Friends
While planning trips with your college friends. Look for budget friendly trips.
You can yes ‘no’ to costly trips and travel plans for now as a student.
13.
Spilt Subscriptions With Your College Friends To Save Extra Money
Subscriptions like Netflix give options to share one account with four people. This way you can split subscription charges with your friends to save some dollars.
Also, you can split all different subscriptions or online courses with your college friends. This will benefit you a lot in savings.
14.
Don’t Miss Out on College Scholarships to Save on Your Study Expenses
Keep yourself updated with scholarship matters. Don’t miss out on any scholarships that suit you.
Fill the forms before the last dates to get benefits of scholarships. This will aid you in your academic expenses at college.
15.
Don’t Spend on Costly Gadgets Due to Peer Pressure
Do not replace your gadgets often with new ones. Don’t spend more on gadgets that you don’t need.
Every now and then so many new gadgets get launched in the market. But you don’t need to buy them just because of peer pressure. Have a clear mindset and avoid spending more.
16.
Use Public Transportation to Save Money
Use public transportation more to save money. Travel in a bus in your city instead of riding your own car.
Pool money with friends to travel in a taxi and share a ride. Remember, every dollar counts. So, save on transportation.
17.
Share a Room or a House With College Friends to Save on a Rent
If you are staying away from your family for education in a different city or a country, share a room with friends.
If you are planning to get a rented house, share it with your college friends. Together you can divide the rent to pay. It will help you in saving money on a monthly basis.
18.
Sell Your Old Textbooks for Second Hand Prices
Many students look for second hand textbooks. So, you can sell your old textbooks and get some money.
Also, there are book shops that offer exchanging books. So, you can give your old textbooks there and get the current academic year’s books for a lower price.
19.
Make Use of Facilities Available at College for Free of Cost
At the college campus there are many facilities for students for free of costs or at a minimum price. Make sure you have checked all such facilities.
For example- Gym membership. You don’t need to look for external gym membership. At your college you may get this facility for free or for a reasonable monthly charge.
I hope you are going to implement all these ways to save money in college. Set small saving goals and take action. Let me know which practical tip you have implemented as a student for saving.