Oct
10
2015

10 Money Saving Tips for College Students

Pink piggy bank with glasses standing next to a blackboard with simple college savings or fees formula.

Pink piggy bank with glasses standing next to a blackboard with simple college savings or fees formula. 

  1. Get Organized –¬†Disorganization will always lead to money going where it doesn’t have to. Make a budget, keep a record, and keep the receipts of everything you buy. Keeping the receipts will not only make you more aware of what you are spending, but also allow you to have a record if you have a fraudulent transaction on your account. Whenever you have the receipt you can prove that it wasn’t you that made that $1000 purchase in an electronics store.
  2. Watch Your Phone Bill – If you are one of the lucky ones who are still on their parent’s phone bill plan, you may be OK, but if you are not then you should definitely watch your phone bill. For sure do not go over you monthly limit of data, always try to use the school WiFi when possible and do not stream music or movies unless you are sure you are connected to WiFi. Also it may be a good idea to move over to a limited amount of minutes, this way you limit yourself from talking to your friends all the time. If you are a big talker, you can always use an app such as Viber and make phone calls to virtually anyone for free as long as they have the app installed as well.
  3. Sell Your Books – Do not keep them, keep the notes that you take in class and the assignments that you have done for the class. The books can bring in an extra source of income for you and chances are you will never open them after you are done with them and they will collect dust. You can sell all of your books to underclassmen on Facebook, there are many groups that have been created for students to sell their books. If you can’t find anyone that is willing to buy your books, you can always try to trade them in for some cash. Amazon.com for example gives great value for used textbooks, so you can always try them.
  4. Rent Everything – Unless you plan to live alone for the rest of your life and know that there is no chance of you going back to your parent’s house, you should rent everything from Books to Mini Refrigerators. Renting the books and returning them can save you a lot of money and it will allow you to still have access to the materials that you need for your class. Also try to find the eBooks of your books – chances are they are cheaper than the real books.
  5. Keep an Eye Out for Odd Jobs – In the dorms or in your Career center office there will be always some random jobs posted that you may qualify for. Do not hesitate to try them out because those odd jobs can bring you a good other source of income.
  6. Borrow from the Library – Whenever you need to read a book for a class, do not go out and try to buy the book, first check your school library. The chances are that they have that book on hand you will be able to rent it instead of spending money on a book and then have to wonder what to do with it. If you like to highlight and annotate while you read, write your annotations on a separate sheet of paper.
  7. Find a Job with Free Food – If you want an extra source of income, you should find a job that give their employees free food. There are many fast food places that allow their employees to take food home if there is any leftovers at the end of the night, if you can find one near your campus you will save a lot of money on food.
  8. Go to the Campus Events – You should try to attend most of the campus events, this way you can network with people at the events and develop connections that can help you with a potential job down the road. While this is not an immediate saving of money while you are in college, it could be one in the long run.
  9. Become a Regular at the Dollar Store – Check out the closest dollar store. Dollar stores always have nice things that you could use in your dorm room. In fact they have a lot of school supplies and some stores even sell food.
  10. Apply for Scholarships – Just because you are in college already, it does not mean that you cannot apply for scholarships. Make an Excel sheet and keep a record of upcoming scholarships and constantly apply to them. Fastweb.com offers a variety of scholarships for which you can qualify for!

Have something to share? Feel free to let us know in the comment section below.

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Main Editor of FreedomToSave.com ~ A PR friendly website that aims to help you keep the most of your money in your wallet.

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