Is It Possible for College Students to Save Money?

As you enter a new chapter of your life, particularly college life, you will start to realize many things about adults that you haven’t thought about as a kid, including how they manage to budget money for the week.

When you live far from your family, you will learn to budget your monthly allowance- save money for the week or month, buy food or school stuff.

A lot of college students think that it is hard to save money in college. It might be true because there are some unexpected things that you might encounter that will cost you extra money.

But it is not impossible. With the right mindset and knowledge, you will be able to save money as a college student. Read the tips below to find out how to save money as a college student.

Saving Money during College

1. Avoid spending money on unnecessary things

It is surprising how much money you can save if you keep it out of unnecessary things and habits. You can save a lot of money if you don’t buy anything you just saw for the first time or without planning.

Brace yourself as you walk inside the mall and see things that will attract you to buy them. Ask yourself first, is this item worth the money? Or you are just attracted because it looks good.

To save more money, it is better to buy clothes during seasons with many sales and discounts. Avoid buying unnecessary things from online shops. Take public transportation, or if you can, walk to your destination instead of using your vehicle. Gas price costs more. These simple things would greatly help you to save money.

2. Save money for basic amenities

One typical case is that college students are mostly away from their homes. They commonly rent a room or dorm near or at their school. Living away from home requires basic amenities such as furniture, utensils, refrigerator, etc.

Instead of buying new items, consider checking within your college campus if old students also used these things and won’t need them anymore. You can ask them to lend these items to you. There are also school premises that offer complimentary amenities that you can use. Also, if you know a professional realtor in the area, ask if there are items being sold by their clients. Most home sellers don’t want to keep their old stuff, so they sell them at a meager price.

You can also check your college’s storage space if they have these items piled up. You can ask authorities to buy these things for cheaper rates or even ask them for free.

3. Save money during shopping

You can’t avoid shopping; you will need to save a stock of food for the week. You can save a lot of money with the help of coupons. Coupons will help you get things with discounts.

You can check what times the grocery stores are offering discounts and buying wholesale. Remember to check other stores or markets if they have cheap sales to save more money.

4. Avoid overspending

Many students spend a lot of money on phone bills, internet bills, and some unnecessary stuff. You can manage your money by making a monthly budget.

If you want to save money, you need to strictly follow your monthly budget plan and limits. Using prepaid cards instead of cash helps you prevent overspending as you can spend money within card limits.

5. How you can save money on accommodation rents

Take time and effort on looking for brokerage-free accommodation online, as this will help you save money. Getting accommodation means paying rent. If you’re lucky to have good roommates, it can help you save more money.

It is best to search online to find reasonable and cheap accommodation. It is also good if you know someone who can share the room and rent with you. Ask your classmates if they are looking for housing and offer your place.

Keep in mind that brokers are taking extra charges of money from clients looking for a place to live. So, find broker-free accommodation.

6. Try to find small-time jobs for extra income

There are a lot of opportunities available to help you gain extra income as a college student. Try searching online or ask your classmates and friends if they know one.

The most common way to earn money in college is making your senior’s or junior’s notes or sketching up their practical science books. You can also teach juniors a subject you have already mastered.

Conquer your fears and step out of your comfort zone. Shyness can’t help you in college. It is a whole new level of experience and atmosphere.


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