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Tips of Saving Money in College

by: Bigsaver | last updated: August 21, 2009
Category: Personal Finance | Tags: save money in college, saving money, save money, tips of saving money in college, money saving tips

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Tips of Saving Money in College Money is one of those rarities in college. It seems every time you turn around you need more of it, yet when you check your bank account, you always have less of it. Thus in college life it is very essential to save money, so that you can use it in in emergencies. Check out these tips to help you save cash during the college yearsâ€”Iâ€™ve used a lot of them myself.

Rent or Borrow Books Instead of Buying New Ones

New textbooks from university bookstores can be very expensive. Brand new editions of chemistry books, for instance, can cost as much as $300, and that's not including any lab material. However, you can cut costs on reading materials and not starve. Look around for used bookstores. Most college campuses should have several -- the prices are heavily discounted, and book conditions are usually good. If you have enough time before classes start, check out the Internet for your books. Even with shipping charges, prices can turn out to be cheaper from online bookstores. And don't forget -- some of your friends might have taken a course in the past. Ask around and see if you can borrow from someone.

Food Expenses

Best way to save money is to cook. You can buy whole chickens very cheaply. They take very little time and effort to prep and cook. There's a large variety of ways to spruce them up and they will last you several days. Add in some rice/pasta and salad and you have a cheap, filling and healthy meal. A good homecooked meal is also a great way to impress a date.

Avoid Last Minute Impulse Buys

Another way you can save valuable cash in college is to avoid those last minute impulse buys. For instance, when you’re at the check out line at the grocery store, don’t let the last minute items entice you. Likewise, just because you go to the mall, does not mean you need to buy something. And if a shirt is on sale, that is not an automatic excuse to buy it.

Look Out For Scholarships

If you're applying for college right now or thinking about transferring to another school, it doesn't hurt to do some research on various types of financial aid provided by the school. Aside from the obvious chunk of cash you'll save in the long run, several scholarships offer all sorts of perks and benefits -- semester stipends, group trips, special access to useful resources, et cetera. If you're already enrolled but haven't received any aid, keep trying! If your grades are good and you show you mean business, many scholarship programs give you the opportunity to apply each semester.

Apartment living offers certain benefits over dorm life

Apartment living offers certain benefits over dorm life and will usually be cheaper if you can find a couple of roommates to split costs. Remember to save money on bills by keeping the A/C or heat turned down or off, keeping the lights off when not in the room and taking short showers. This will assure that your utilities stay low. In such case you can also have a good and healthy meals by establishing kitchen in your own flat.

Transportation and travelling

Instead of driving to class and spending money on gas, parking passes and possible tickets, look into a local bus or subway system. If the system is run by your university, you'll probably be able to ride for free with a student ID. If a transportation system doesn't exist (or the existing one isn't safe or reliable), try to work out class schedules with friends and carpool. If you're close enough, walk or bike to class and get some much-needed exercise.

Be Creative With Your Leisure Time

Everyone needs to unwind after studying, and college campuses typically offer all sorts of opportunities -- movie theaters, bars, cafes, arts centers, parks, downtown shopping centers, et cetera. Ask if any of these places offer student discounts. You can also think of alternative ways to have a good time. If you make the right choices and use a bit of creativity, you can have fun and save money at the same time. Plan a picnic in the park; make dinner for a date instead of going to a fancy restaurant; go for a bike ride around town; play Frisbee golf on campus. Any of these activities cost a fraction of the typical college experience and can be more fun.

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