If you are strained financially and cannot make ends meet in college, you need to relax because you are not alone. Raising enough money to cater to tuition fees and upkeep comfortably is a challenge for most college students. However, these top 10 ways to save money in college will help you get out of the shackles.
1. Carry Your Student ID Wherever You Go
Did you know you are eligible for student discounts in most stores if you present your students’ ID? So, before making any purchases, ask about student offers and unveil your students’ ID when asked.
2. Reduce Your Subscriptions
Saving money might mean embracing a more frugal lifestyle. However, it does not entail snapping into it entirely. Splitting subscriptions with your roommates and family could save a few coins. Even better, some services have cheaper student packages while others have free versions, which still serve the purpose.
3. Use Cashback and Reward Programs
Another tip is using cashback and reward programs to purchase items, such as grocery and personal care. Other programs go the extra mile to give you money back on specific purchases.
4. Choose the Most Favorable Credit Card Package
If need be, get a credit card. However, credit cards might sound and feel like a hook. So, be careful to get one with the lowest interest rate and has a leeway for you to pay in full monthly. This specificity will save you from extra charges due to late payments. It also helps you establish good credit in the future.
5. Open a Savings Account
If you are not financially cautious or are cultivating a healthy saving culture, visit your nearest bank and open a savings account. Commit yourself to consistently crediting money to the account monthly and have someone to hold you accountable.
6. Consider Student-Friendly Investment Options
If you have a little income at your disposal, engage your family and friends and suggest opening a savings account or a mutual fund. Making money work for you builds your financial discipline and helps nurture a healthy saving culture.
7. Stay Focused on Your Studies
College is an opportunity to study, make friends, create memories and have fun. As a result, most students do not complete their studies within the stipulated time because of failing to prioritize their studies. What is worse is that every additional semester is an added expense. So, to avoid this, stay on schedule.
Coming up with workable systems will help you strike a balance. For instance, take advantage of platforms that allow you to pay for essay writing services. They will ensure to deliver your assignments on time as you keep up with other activities.
8. Keep Tabs on Application Deadlines
If you are on a scholarship that requires you to reapply after every academic year, keep tabs on the dates and application process. Late submission of your application documents might tender the attempt invalid, yet you could leverage scholarships to cut down on college costs.
9. Be Flexible About Your Housing Options
Painful as it might sound, it costs way less to live in a college dorm than off campus. The memories you create in the dorm are not significantly different from renting an apartment. However, if you insist on living off campus, consider getting a roommate and split the bills.
10. Utilize the School’s Amenities
Colleges provide access to amenities to support you in your course to save money. The best part is you do not have to dig deeper into your pockets to pay for them. Imagine saving money you would have spent on a gym membership or joining clubs that organize fun activities over the weekend.
11. Do Not Buy Textbooks
Any student can attest that books are costly. However, you do not have to worry about this issue because most colleges have well-equipped libraries that rent out textbooks. Alternatively, you could access learning materials on scholar search engines.
12. Shop in Bulk
Imagine saving a few dollars every time you go out shopping. It gets better when you sign for memberships with groceries stores. Sign up for membership in these stores, and every time they have offers and sales, buy nonperishable goods in bulk. You will not regret it.
Financial discipline is a lifetime journey, and every step counts. These tips on how to save money in college are the baby steps you need to nurture. Pick the simplest of them and work your way up.