I recently came across a great article that talks about college kids and how they can save money by doing a few easy things.
The first thing to consider is creating a budget. You should allot an amount of money each week so you don’t overspend.
The second is to wait at least thirty days to buy big ticket items. You might want that cool new thing, but do you really need it? By waiting thirty days, this will keep you from being a compulsive buyer. If you still like the item after thirty days then go ahead and buy it.
The next thing is to buy used if you can. Textbooks at college can be a huge expense. New books can cost a lot more than used. If you don’t mind having a book that might be a bit worn down and was possessed by someone before hand than by used – you’ll save a bit of money.
Another way to save a bunch of money each day and week is to pack a lunch. Buying from the cafeteria or from local establishments around campus can be expensive.
Avoiding ATM fees is also something you should consider. Try and get a bank that is on campus or near campus if you can. ATM fees might seem like a little bit of money, but overtime it can equate to a large amount.
Saving money while at college can be a hard thing to do especially if you are a new student.
I came across an article at Daily Finance that talked about five simple and easy tips to help you save a bit of money while studying at college. The first tip is to set up a checking account. A lot of college towns offer “free, no minimum balance checking accounts.” Most banks also offer free online banking, which can help a student track his or her expenses from their computer or smartphone. This will enable you to always know how much money you have. A checking account and online banking will also give you a great indication of where you are spending most of your money and where you need to cut back.
The second tip is to get a part time job. Most students might feel they have enough on their plate with a heavy course load, but if you feel extra ambitious a part time job can help you save a lot of money. According to the article, “most studies show that students who work for 20 hours or less per week don’t suffer any ill effects on their grades; in fact, a recent article in “Inside Higher Ed” reports that students with part-time jobs are likely to be even more engaged in “educationally purposeful activities.””
The third tip is to be weary of people at colleges offering you the chance to sign up for a credit card. The prospect of having a credit card might be nice, but it could also be very detrimental. You should do your research first and don’t give in to any perks you may receive from a person soliciting on your college campus.
The fourth tip is to be in control of what you are eating and how much you are consuming. Meal plans can be costly and unnecessary. Many colleges offer flex plans that charge you based on what you eat so you won’t spend as much and won’t nearly over eat and pack on costly pounds.
The fifth tip is to stay away from high textbook prices. Textbooks can be very costly especially if they are new. There are many websites that offer used or the option to rent textbooks.
These are just a few tips that can help you cut back on expenses and save money while studying at college.