5 Ingenious Ways to Save Money While in College

5 Ingenious Ways to Save Money While in College

Attending college can be a life-changing and memorable experience. However, this also comes with significant financial costs - tuition fees, textbooks, and the cost of living rapidly accumulate, and students typically find it challenging to remain debt free. Fortunately, there are numerous solutions for college students to save money and savour their college years. This article presents a brief overview.  

Take advantage of student discounts

Student discounts are an effective means of saving money on purchases - many retailers, restaurants, cinemas, and other businesses provide discounts designed for college students (who present a valid student ID). A typical discount can be up to 10%-20% off the standard price. In addition, innumerable online stores provide discounts and coupons solely for students. Ergo, reviewing relevant and applicable coupon codes can give discerning students an advantage when purchasing necessities. 

Make a budget and stick to it

One of the most effective strategies to save on expenditures throughout college is to create a budget with predetermined rules (such as the "50/30/20" rule) and income allocation to be adhered to. In addition, the following tips are useful:

  • Keep a budget notebook for one or two months to understand your monthly spending patterns.
  • Subsequently, draft a spending plan that encompasses money for food, transportation, accommodation and learning materials.
  • Remember to have fun - retain some money for socializing and new clothing. The "50/30/20" rule is useful in this respect. 
  • Always include some emergency funds in your budget.

Cook your own meals

One of the easiest means of mitigating costs in college is to cook your own meals - you can save money on food without sacrificing quality or health. The latter can be achieved by stocking up on long-lasting grains such as rice, pasta and beans. Moreover, frozen vegetables and fruits can be added to various dishes and provide essential nutrients. One useful tip - to save time and energy during the week, prepare meals in bulk on the weekend. 

Look for free activities on campus

One of the most effective bonuses offered to students is free activities on campus, including daily events and activities at no cost that are designed to strengthen social bonds and inclusivity. Events such as these can take the form of everything from movie showings and talks to art shows and performances. As an additional bonus, many colleges and universities promote student groups that offer game nights and trivia contests. Participating in free events is a practical means of broadening social circles without spending. 

Buy used textbooks

Textbooks are typically costly, and many colleges refer to page numbers from specific publications that are only available new. However, used books are not only more cost-effective, they are also widely available. Regardless of page references, it is possible to align with alternative publications of course materials with a little adaptation and additional work. Used textbooks can be located in most university bookstores, online stores (such as Amazon or eBay), or at university book sales where students from previous years sell their old materials. Students can also purchase and sell secondhand textbooks from one another through online markets that are available from many universities. However, where possible try to locate the edition specified by your professor - this will save referencing time and ensure your edition contains all the correct additional footnotes.