Smartest ways to save money in college and university, tips for students

November 28, 2017, published by Staff Writer | 68

Few tips to help college students save money

With the higher education fees being practically unaffordable, the last thing you want to worry about is your living expenses at a college or university. Follow these simple tips, save more on your money and put all your attention on your studies instead.

Assuming that every students receive some sort of money from parents, since they are still studying, many of them tends to spend the money on social activities, such as going a lot with friends and so on. If your parents help you with money in college, work with them, work out a budget and stick to it, you will notice how much you are actually saving.

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Here's how you can save money in college or university

  1. Buy used books - the first step to take in your journey to saving more while studying, you can start by avoiding new books, they are quite expensive and let's be honest, they both contain same content. There’s no shame in buying used books, do that instead and figure out how much you can save. Checkout the university library if they have the book you are looking for, most books can be found at a library. You can also rent them out from students who have progressed in the module you will be studying at the time.
  2. Save on food - most students tend to buy fast food everyday since it seems to be the easiest way to have a meal. However if you think about it, your fast food meals are actually costing you more. If you are staying in campus, you can have an agreement with your roommate and go 50/50 on groceries. Buy food in bulk instead, ensure that you buy all the necessary products for the whole month, that way you won't need to go to restaurants to get food.
  3. Ignore credit card offers - banking institutions made so easy for students to gain access to a credit card, apparently at an affordable interest rates. Please do not accept or take any credit card offers, it's very easy to spend the money from the card but can be way difficult to pay it back, you can ask any person that is working today, imagine with you who is still studying. Anyway if you decide to get yourself a credit card, try get one with the very lowest interests.
  4. Leave out your car - if it happens that you already have a vehicle, please just leave it at home because it's going to cost even more with maintenance. If you do bring it over for convenience, then you are simply just not being honest to yourself, it will cost you on gas, packing rates and so on, can you afford. Remember you are here to stay and study, that's your main mandate, otherwise you can always use public transport to move around.
  5. Cellphone usage - properly monitor your airtime and data usage on cellphone, you might not notice this but spending quite a lot in that regard. Make sure you have a monthly limit, if you know you can't do that yourself, find a free service provider that will monitor your usage and analyze if you've got the right package.