How to Save Money in College
College life can be expensive. If you are lucky enough to land a scholarship, you won’t feel the pinch as much. However, you still need to pay for other items such as meals and accommodation. Therefore, saving a few pennies in college will go a long way in helping shape your future.
Saving money in college helps you prepare for the real world. You don’t want to be broke immediately after you get your diploma. Here are five clever ways you can save while in college.
Further Reading: Invest in Their Future – 6 Reasons to Teach a Child to Save
Parenting – For the Student in Your Life
How to Save Money in College – in 5 Ways
How to Save Money in College #1
Avoid Buying Textbooks
Purchasing new textbooks can be quite costly. It is easier renting your textbooks or buying used pieces. In addition, you can ask former students for their textbooks. They may choose to sell it or loan it to you. Either way, you can make a great save.
You can also decide to sell your textbook after school. You may not get the initial amount you bought it for, but it gives you extra cash in your pocket.
How to Save Money in College #2
Accommodation Costs
Living on campus may seem cheap, but it can actually be the more expensive option. If you live a commutable distance away from your college or university, you could consider living at home, even if it’s for the first college year – until you find your feet.
If not, it’s normally more cost effective to seek accommodation options off-campus. House sharing, studio flats or even lodging is usually the way to go. Your college or student union should be able to give a list of the various student accommodation you can find around you. Then it’s up to you to compare the quality and prices of the accommodation types – to find one that is suitable for you.
To cut your costs further, find a roommate! This way, you get to half almost all your expenses, including meals and energy bills too.
How to Save Money in College #3
Dine on Campus
You could avoid dining out of campus since on-campus meals are pretty affordable. If the dining hall food isn’t appealing, you can save money making your food. You can get some of your friends and make a homemade group meal. Not only will you save money, but you also get to learn your way around the kitchen.
How to Save Money in College #4
Find a Job
For you to save money, you need to make money. Therefore, you need to find a job that corresponds well with your schedule. You can either find a job on-campus or off-campus. Finding a job on campus is ideal as it’s easier to find a manager willing to work around your school schedule. Also, an on-campus job will look good on your resume when applying for a job. On-campus jobs are limited though, so get job-hunting early.
Other than working around your class schedule – factors to include when looking for a job include how close the job is to your home or accommodation, if you can work weekends and during your college breaks – especially over the summer months. And don’t forget to look for a job that’s related to your field of study! What better way to get a practical grip on your studies!
How to Save Money in College #5
Apply for Scholarships
If you did not qualify for a scholarship when enrolling, you could still apply for one as you continue with your studies. In addition, some schools offer merit scholarships to students with outstanding achievements. Find out whether your school offers such a program. Some may require you to take up extra classes.
It’s best to steer clear from any loans while in college. Loans may end up weighing you down after school, preventing you from achieving your financial goals. The above options will might not keep you free from debt but they will help lessen it.
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PIN: For the Student in Your Life – How to Save Money in College
