How to Save Money When You Are A College Student

Every student must have come across the question,  ‘how to save money when you are a college student?, at different times during their wonderful college years. College is all about making new friends, acquiring a quality education, and having a great time. But a lack of financial “unawareness” on your part, can make it a period of  full  financial crises. Every student entering college arrives with a dream of collegiate success, but in fact, there are only a  few who succeed, since others let financial hardship get in their way. The reason for this disparity is not because few students are financially superior,  but it is because they are smart enough to make out how much money they need to succeed, down to the most trivial of items. Earning money during college days is one thing,  but one can definitely increase his/her bank account by adopting the habit of saving especially when in college. Having money in your pocket feels good and the habit of saving money gives you peace of mind. Even if you have planned to save extra bucks for yourself, there are chances that you might be confused about the ways you can achieve this goal. Well, in order to help our friends in college, we’ve come up with the most amazingly practical ways of saving money:

Here Are 7 Ways to Answer The Question: “How to Save Money” When You Are a College Student

How about preparing a budget?

Most of the college students shun the idea of preparing a budget but believe me this is the best way of initiating your saving process. A budget is nothing but a statement showing your estimated expenditures and incomes. You have the freedom to go in for minute details or prepare a superficial budget based on your needs, but we advise you to prepare a detailed budget, so that leaking cash can be easily spotted. After preparing a full-fledged budget, let us find out the ways in which cash leaking can be avoided. The main question when preparing a budget should be, “how to save money when you are a college student”.
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Apply for scholarships or financial aids

The first step to saving before and after entering your college life,  begins with applying for scholarships or financial aid. This kind of aid is generally given to two kinds of students- meritorious and needy, so if you belong to any of these categories, do apply for  scholarships as it would help you save a lot of money which would otherwise have been expended as your college tuition fees.

Buying old books or clothes

We live in a  time where young folks are actively participating in various environmental savings activities, and believe in the concept of ‘renew, reuse and recycle’. You will be surprised to know that for college students, this can be a mantra for saving a lot of money. Yes, buying old books and clothes not just lets one save a lot of money which eventually adds up to a lot in savings,  but also allows the student to contribute to the environment by saving plenty of resources and energy. You can lookout for shops where used books and clothes are sold, and can purchase those in good and usable condition.

How about finding a few roomies?

Saving money is not an easy task, it takes a lot of effort on the part of a person, but for a college student, there are plenty of answers to the question of ‘how to save money’. Living in college dorms and hostels is costly but if you find yourself a few roomies, you can avoid a lot of extra expense, and thus save money. It has been shown, that people who live alone in college pads have to pay more rent as compared to those who share their apartment with 2 or 3 people because the the rent gets divided. So, find people in your college that are on a similar mission of saving money, and enjoy their company in a divided apartment.

A healthy transport option

College campuses are scattered over large areas and thus having a vehicle becomes a necessity when you have to move from one place to another on the campus. But who said that only a motorcycle or a fancy car can solve your problem, if saving money is your target then go in for a bicycle instead of other transportation options. A used bicycle is easily available from any shop near college, so take advantage of this healthy transportation option and save on your fuel and repair expenses.

A part time job

The task of saving money can be fueled up by taking up a part time job on your college campus or any store nearby college where you actually go in for shopping. By taking up a job on college premises or apartment complex, would not only increase your earnings, but would also help in cutting down expenses.  However, if you don’t want to take up a job at your college, then lookout  for a job opening at a retail shop nearby college where you actually go in for shopping which would help you in getting things for daily chores at subsidized rates apart from earning a regular income.

Look out for student discounts and freebies

A number of e-commerce websites and retail shops offer a variety of student discounts and each college student can take advantage of discounted offers for completing their daily chores such as hair styling, grooming, shopping for clothes and accessories and even food discounts. Receiving discounts will help you save a lot of money and reduce your expenses, considerably. But not everything is available with discounts and this is the reason why we recommend you stay on the alert to look out for freebies and giveaways. These days, free samples of clothes, perfumes, cosmetics and even food items are easily available and a college student can save a lot of money by using such offers. By following all such techniques and methods, a student can easily save a lot of money during his/her college life. We hope you’ve got some pretty useful and exciting answers to the question of ‘how to save money’ that would help you make your college life more exciting and fruitful.

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Lois Center-Shabazz
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