Are you a college student struggling to save money? Are you tired of working long hours that interfere with your studies? If yes, then I would like to provide you with 11 simple ways you can save money next semester at college:
1. Use your student ID for discounts. Most restaurants and retail stores offer discounts to those that can provide a student ID card. Take advantage of this and try to only shop at places that provide a student discount (it’s actually more common than you think).
2. Get an unlimited bus pass for all of your traveling needs. You guys know the deal, driving is expensive. Take the bus around until you graduate college and have a steady career earning a decent income.
3. Eat breakfast at home. Don’t avoid breakfast because by noon you will end up feeling really weak and may spend all kinds of money on a ridiculously unhealthy and expensive meal.
4. Try attending a college in your town instead of moving out to a major city. Don’t move out of town just because you want to follow your friends or to try to be independent (aka racking up major student debt). We all live in different ares but unless you live deep in a rural area, the chances are that there is a college a bus ride away. My city has 4 major universities and 2 colleges, yet many of my friends moved out town.
5. Party like a student, not a rock star. College pubs, frat parties, live entertainment on campus, and I’m sure there are another 6759 ways you can have fun as a college student without going broke. Would you rather hang out with people the same age as you and attending the same school? Or would you rather hang out with completely random people at an expensive downtown night club?
6. Avoid a credit card as if it’s an STD. Yes there are ways to optimize your credit cards and obtain cash rewards but let’s be honest at age 18 you do NOT need a credit card.
7. If you must get a credit card then make the payments on time. When your Visa statement comes in the mail make sure the first thing you do is go to the bank to pay it off. If you make
8. Buy used textbooks or share with a friend. The college students guide to saving money on textbooks is a must read for everyone. The amount of money you save on textbooks could pay for a vacation after your college graduation.
9. Don’t follow all of the latest trends. I wanted to buy this trendy shirt last summer and it was going for $60. Today I can buy the same shirt for half of the price. Who cares if others had it before you?
10. Practice delayed gratification. The longer you wait for something the more you will enjoy it.
11. Avoid bank machines/banking fees. If your bank is still charging you monthly fees or for cash withdrawals then it’s time you talked to them. If they don’t budge then it’s time you walk. These days there are plenty of bank accounts with zero monthly fees and free cash withdrawals.
photo: Jeff Keen
I'm a 24 year old dude that studied finance in school and now wants to make it fun. Over the past three years I've been helping readers like YOU make more money and keep more cash in your pocket. I've appeared live on Fox Business News and I've been mentioned in the NY Times.
{ 4 comments… read them below or add one }
I know you have written about gym memberships, and that was always a HUGE savings I utilized thanks to my university.
Otherwise, good tips all around.
MLR
Great list of ideas! One thing though, living at home and commuting is often a great idea to save money, but not feasible for a large number of people, including me! I live about an hour’s drive from a major city, but there are no bus services and it would take over an hour and a half to get to class. Not always an option!
Wow, #5 brings back some memories of my college days. Heading out to the bar on Thursday nights to get the $1.50 pitchers of crappy beer. Those were the days!
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