How to Save Money in College

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Due to rising tuition costs, as well as living expenses, funding your college and making ends meet while attending college is becoming increasingly challenging.

To help you, here are eight simple things you can do to save money during college:

8 Tips to Help You Save Money in College

  1. Buy used textbooks. One of the biggest shocks you will have at college is just how expensive the textbooks can be. Before paying full price for your books, consider a few ways to pay less for them. One of the most cost-effective ways is to borrow books from a student or see if copies are available in the library. If not, used textbooks are always cheaper and can be purchased on Amazon.com. There are also other solutions, such as renting the textbooks on Amazon.com, or from Chegg or Barnes & Noble’s textbook service. You can also download digital textbooks through sites like iFlipd. 
  2. Always keep your student ID on you. A big advantage of having your student ID is the amazing amount of discounts available to you as a college student. From computers and laptops to clothes, accommodations, and food. Most restaurants around or near campus will offer discounts, as well as major clothing stores. But you need to have your college ID.
  3. Stop eating out. Limiting your take-out or eating out is one of the first steps in any budgeting plan. Even where meals seem inexpensive, you will be surprised at how monthly costs of food add up. Instead of spending $3-5 on a latte, make your own coffee at home. Find ways to meal prep and overall limit the amount you eat out as much as possible. This includes limiting your beer and alcohol consumption.
  4. Find a roommate. If you live off-campus, find a small apartment with 2-3 rooms and roommates that can help you pay the rent.
  5. Use entertainment and activities provided by the school. If you want to stay fit or go out for entertainment, see what amenities or facilities the college has first. Check to see if your college has a gym or fitness facilities. If you want to go out, check if there are movie nights or free entertainment.
  6. Owning a car can be expensive. When you are going to college most things you need will be found on or near the campus. Paying for a car while you are going to college as well as the parking, gas, and insurance can be an extra cost that you do not need.
  7. Watch your spending. If anything college is a greater place to start learning the basics of finances. This includes budgeting your money on a weekly and monthly basis as well as watching your credit cards and ensuring they aren’t getting maxed out and paying them down or off. Ideally, try not to carry a credit balance. If you are constantly going further and further into debt while going to college, this is a sign that you need to cut costs and stick to a budget.
  8. Stay focused on college. Life can bring up many unexpected scenarios however staying focused on your studies will help you spend less in the long run. If you need to take an additional semester, this is an additional cost you wouldn’t need to spend if you worked hard to complete your studies during the previous semesters.