MH-Saving Money In College

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How to Save Money In College

With the rising cost of living expenses and tuition, it’s no wonder you’re thinking about how to pinch pennies and save a buck while you’re in college. You are not alone! It’s a challenge to stay on a budget, but that doesn’t mean you have to be a starving student! There are so many great ways to save while you get educated! 

– Don’t buy new books 

Textbooks can be costly. Before you shell out big bucks, see if you can borrow books from the university library or a fellow student. Rent or buy used books at Try renting books from Chegg or Barnes & Noble’s textbook service. You can even order digital textbooks through sites like iFlipd

– Don’t leave home without your student ID – 

For those who have their student ID in hand, discounts are available on things like laptops, clothing, phones, and insurance. And when you can’t study one more minute, wind down at a theater or museum! Many offer discounts as well! 

Check out Gift Card Granny for a list of over 100 student discounts! 

– Do limit eating out  

Use your meal plan at school if you bought it. That’s food you don’t have to budget for! Eating out can add up fast, even with a student discount. 

Grab a coffee maker on sale and save on your morning cup of joe! Get a membership for a store like Costco or Sam’s Club, where you can stock up on toiletries and nonperishable items at a bulk discount. 

– Do choose your housing wisely – 

While living off-campus sounds like a lot of fun, it usually costs more than living in the dorms. If you do decide that off-campus living is what you want, consider splitting the cost with a roommate or two. 

– Do check out campus activities – 

Save money by checking into activities on campus. Everything from fitness classes to movie nights may be offered free of charge! Stop by your student union to see what’s out there. 

– Don’t own a car – 

If you can avoid it, not having a car can add up to substantial savings! Gas, insurance, parking, and unexpected car repairs can ruin your bottom line. Borrow a friend’s car or take public transportation if you need to travel a long distance. 

– Do visit your local bank – 

Did you know that most banks have checking, and savings accounts designed for college students? Many times, they require no minimum balance and have lower fees. Online banking is a great way to check your balance to avoid overdraft charges. 

– Don’t be reckless with credit cards – 

If you do get a credit card, make sure you get the lowest possible interest rate. If it’s necessary, charge as little as possible and only what you can pay off at the end of each month. Doing this will help you avoid late fees and establish great credit. 

– Do focus on your studies – 

Focus on your studies and stay on schedule as much as possible. Every additional semester is another expense. Check out university resources like academic counseling and tutoring to help keep you on track. 

A little discipline and common sense will help you save money. Coming out of college without extra debt will set up for future success.