How To Save Money in College

How To Save Money in College

College life is challenging, every penny count so learning how to save money in college is essential to have a balanced experience. In this article, I want to share some useful tips, I used when I was in college. I hope it helps you achieve your financial objectives.

Save on shopping

  1. Group buying: team up with classmates to share textbooks and other materials. I wrote an article to explain how to save money on grocery shopping.
  2. Grow your own food: it is amazing how much money you can save if you can grow crops like basil, green onions, or tomatoes.
  3. Buy in bulk: always buy things in bulk they last longer and save you a lot. In college, my apartment was always packed with boxes and bags of food.
  4. Make your own coffee and your own food: you will save good money from making your own food.
  5. Look for volunteer opportunities: when you volunteer in nonprofit organizations, you can take home some perks such as free foods or valuable connections.
  6. Coupon: use coupons as much as possible for shopping. Websites like Groupon are very effective.
  7. Don’t go fancy go practical: it is amazing how much money you can save when you start prioritizing practicability over fancy things.

Save on experiences

  1. Shared an apartment: Make your housing budget less expensive by splitting the cost with a roommate. Go even further by choosing an off-campus accommodation that provides all utility in the rent.
  2. Don’t go for activities: that is a very hard one because at the same time when you are in college you need to make time to network and connect with your fellows. Rather than anticipating outing prioritize apartment events or outdoor activities that do not require money. Chances are they plenty of free stuff to do in the city.
  3. Walk: walking is good for you and your health. Always make to cover some short distance walking. A rule of thumb when a distance can be covered within 1hour forget ride-sharing app and go walking.
  4. Take public transportation: forgo a car, when you factor in the lease, the cost of parking, insurance, gas, maintenance, and unexpected repairs, you can break the bank. You can always use a Zipcar, get around or rent a car if you need to go a long distance with friends or relatives.

 

Avatar

@elvisteg