College is really expensive. Tuition is the most expensive part, but then a lot of expenses like textbooks, transportation and rent, add up quickly. You’ve probably heard this a thousand times already but it is 100% true. So, here are some tips for you to save some money and create a budget while you’re in college.
Try to live off campus
This is key to save money in college. And let’s be real, living at the dorms is expensive af, probably the most expensive option. And the worst part is that dorms are tiny. If you’re a freshman maybe it will be mandatory to live on campus, but if it isn’t, you should totally look for other places to live. There’re a lot of options around campuses, like apartment complexes and houses. You could even rent a house with a couple friends. You’ll probably find a more spacious and comfortable place, for half the price!
Avoid impulsive purchases
I used to be a shopaholic and had so many clothes and shoes I could probably fill up and entire room from the floor to the ceiling. And while, I still shop, I try to control myself as much as I can. My main problem was with clothing but this tip can be applied for everything: think twice or more before buying and wait a couple days before you buy. The thing is that in those couple days you’ll most likely forget about what you wanted to buy so bad! And if you can’t stop thinking about that item you wanted, then maybe it is worth it to indulge yourself and buy it.
Look for Discounts
For example, when shopping online you can download the the Honey extension and it’ll browse the internet looking for coupons for you to use. It has coupons for almost every website – I highly recommend it! Use this link to download it and you’ll get Honey Gold towards free gift cards at popular stores like Target, Nike, and Amazon.
If you shop very often at stores like Kroger and CVS get their discount card and accumulate points towards discounts when you shop.
Take advange of your student discunts
So many companies give students discounts like Apple, ASOS, Boohoo and others. All you have to do is prove you’re a college student by entering your school email and that’s it! In some case you may also have to enter your student ID number.
Avoid Getting Takeout or Ordering Food
We all know that the food from the dining hall is not the best, but you’re already paying for a meal so you might as well eat there. I know it is very tempting to order goof from around campus, there’s so many things that you’d rather eat. But remember that all of those takeouts and restaurant meals add up so quickly, you could’ve saved about $100 if not more monthly by simply not eating out. If you don’t know how to eat healthier at the dining hall, click here.
If you don’t have a meal plan, click here for an article all about surviving ( & thriving) without a meal plan.
Go Abroad
Places like Austria, Norway, Finland and even Germany are fantastic if you want to study for a very low price. You could save thousands by studying out of the US.
A fun fact you don’t know about me is that I’m fluent in German because I went to a German high school and I could’ve gone to college in Germany. Which would have been so much cheaper! My friends pay only a couple hundred euros for a semester if not for the whole year at their German universities, while in the US we pay THOUSANDS of dollars for each semester.
The living costs abroad might be cheaper as well, depending on the city and country. Obviously, if you want to study abroad you have to speak the language and if you don’t then probably don’t bother to apply? I know for a fact that studying in Germany without being fluent in German is close to impossible. If you do want to study abroad then definitely do everything possible to study the language. Is this a topic you guys are interested in?
If so please let me know and I’d be more than happy to
Skim 10% Off
When you buy something for a friend, try and take 10% off your budget. With this money, put it to one side and create an emergency fund, or even a party fund. If you have to buy a textbook, a stationery set or anything else of the sort do the same. If you have a set budget then take 10% off this and put your savings into a fund. This is a great way for you to really save money. And you can then have fun with whatever you have managed to save. When you do this, you can use your money to do things that you actually enjoy and you can also really challenge yourself as well. You could even ask your friends to do the same, and then pool your savings together to go on holiday.
One No Spend Day
Another tip to save money in college is to have one no spend day a week. I don’t know about you, but spending money for me is way too easy. So, trying to spend no money one day a week is a challenge. However, it’s important that you have at least one no-spend day every single week. If you think about it, we are always spending money. Even if it is just buying bus fare or even a snack when you are on your way to class. You need to try and exercise some self-restraint. And the main way that you can do this is to have a small, no-spend day every single week. If you can, try and walk to college or pack a snack. It will also help you to be more aware of the impulses that you have. And when you are able to go one day without it, you would be surprised at how much you can learn and at how easy it is for you to really go that extra mile with your finances.
I hope these tips help you save money while in college! Click here to keep exploring the college section of this blog.
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