Saving money as a college student isn’t easy, but neither is it impossible. If you learn money saving tips while in school, when you graduate you’ll be equipped with financial habits that will benefit you for years to come. Below are some of the best tips for saving money while in school.
Buy Used Textbooks
Every year textbooks get more expensive. And if you sell your textbooks at the end of the semester, you almost always get less money back than what you originally spent. Here are three strategies that will help you save money:
- The easiest strategy is to only buy used books. Most university bookstores have a used book section. Make sure you get there early because the used books usually go first.
- If you have a friend in the class, you should consider splitting the cost and sharing the book. However, sharing a textbook can make homework and study difficult. Take the time to think about whether this strategy will work for you before you split the cost.
- Rent the book. Sometimes it’s cheaper to rent a textbook rather than buy it used. Plus, when the class is over you can easily return the book instead of dealing with the hassle of selling it.
Make A Budget
Creating and sticking to a budget is difficult for almost everyone. Yet if you get used to having a budget while in school then you’ll find it easier to stick to throughout your entire adult life. The website Mint makes it easy to track your income and expenses. It provides easy-to-read graphs that show you which categories you spend the most money on. If you find that you spend too much money in one area, you can quickly make adjustments. To learn more about setting a personal budget, take a look at this article.
Be Responsible With Credit
Think carefully before getting a credit card while in college. If you don’t have the money to purchase an item, it’s probably best if you go without that item—unless it’s essential to your education. Before you purchase something with your credit card make sure the monthly payment fits in with your budget.
Use Your Student Discount
Many businesses and services offer student discounts. Take advantage of them! A discount is an easy way to save money—money that adds up over time. Here’s a list of some great student discounts.
It’s difficult to save money if you don’t have any so consider getting a part-time job while you’re in school. A part-time job is a great way to earn some extra money that you can either put in the bank or use for everyday expenses. Plus, working is a great way to gather references for when you apply for internships or full-time positions after graduation.