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Tips on saving money in college?

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Yvonne’s Answer

Hi Brandy,


There are a lot of different ways to save money while in college! One big one is to not buy new textbooks if it is possible. Before going to the campus bookstore, try to see if you can borrow books from the university library or other students. If not, try buying used textbooks or rent from legit textbooks websites like Amazon, Chegg or CampusBooks. There are usually way cheaper than buying a new textbook from your campus bookstore. And when you are done with the textbooks, you can also sell them on these websites to get some money back.


Another thing I would suggest is to have a monthly budget of your earnings/allowances and expenses. It is very easy to lose track of how much you spent especially with so much going on campus and fun activities you want to do with your college buddies. Set a budget on how much you can spend every week on restaurants/entertainment/coffee and stick with your budget. If possible, put away a fixed amount of money every week in your savings and not touch it unless it's an emergency. This is a great way to save some money.


Last but not least, make full use of your campus amenities! Check for free movie nights or other social events for cheaper or, sometimes, for free. You might save a couple bucks!


I hope this helps! Good Luck!
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James Constantine’s Answer

Hey there, Brandy!

Absolutely, I'm thrilled to lend a hand! Here's a friendly guide on how to save money while you're in college:

1. Make a budget: Kick-off by keeping an eye on your earnings and spendings to understand where your money is going. Set up a budget covering all your essential costs, like tuition, accommodation, books, and commuting. This will help you spot areas where you can trim expenses and put that money into savings.

2. Embrace a frugal lifestyle: Explore ways to cut down your living costs. This could mean sharing a room to divide expenses, whipping up meals at home instead of dining out, or opting for public transport instead of owning a car.

3. Tap into student discounts: Lots of businesses offer special discounts for students. So, don't forget to ask about them while shopping or eating out. A student discount card can also fetch you savings on stuff like groceries, clothes, and fun activities.

4. Join cashback and rewards programs: Make the most of cashback and rewards programs linked to your credit cards, debit cards, and loyalty schemes. This way, you can earn some money back on your purchases.

5. Invest in a durable laptop: If you don't already own a laptop, consider buying one that'll see you through your college years. This can help you save on textbooks and other study materials, plus you'll have access to online resources.

6. Opt for open-source textbooks: Many educational institutions provide open-source textbooks that are free or cost less. These can be just as useful as traditional textbooks and can save you a pretty penny.

7. Shop around for insurance: Compare insurance rates for health, auto, and other types to snag the best deals. Bundling multiple policies with the same provider could also help you save.

8. Go for energy-efficient appliances: Choose energy-efficient appliances and light bulbs to cut down on your utility bills.

9. Use public transport: Think about using public transport instead of a car. It can save you a bundle on gas, parking, and upkeep.

10. Think about a work-study program: If you're eligible, a work-study program could be a great way to earn money while you're studying. These programs can help cover tuition and other costs.

In a nutshell, saving money in college needs a bit of planning and self-control, but it's totally worth it. Follow these tips and you'll be able to save money while still having an amazing college life.

Here are some references for further reading:

- "The 2022 College Student Budget: How to Save Money in College" by NerdWallet
- "10 Ways to Save Money in College" by U.S. News & World Report
- "The Ultimate Guide to Saving Money in College" by Forbes

Remember, these aren't web links but titles of authoritative books or articles that back up the information I've shared.

Wishing you all the blessings in the world!
James.
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Nicole’s Answer

Hi Brandy S. I see that you posted this question a little while ago so I hope my answer to you (or others who may read this response) is still helpful.

When I was in college, the meal plan I chose didn't include weekends. Buying food every weekend for 4 years...well that could add up! :). So my friends and I decided that one way we could save was to pool our $ together..and....cook. Even if you start out with just one meal...breakfast on Saturday or dinner on Sunday, you can find real savings in doing a little cooking each week.

Hope helpful and best of luck to you!
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Simeon’s Answer

The two biggest expenses you can control are rent and food. I'd recommend finding a house rental near campus and splitting it between a group of roommates. You can get living expenses down very low this way and even split the cost of groceries with the house, taking different turns for who will cook, etc. My cut-around for food expenses in graduate school was working for the school cafeteria. Lots of free food and then I had unlimited free food once I became a supervisor. Not to mention my grad college had an excellent cafeteria, so it was great quality too. I'd echo the recommendation for Chegg.com for book rentals. That website saved me a lot of money.
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