Finding it hard to meet your college cash demands? Worry not, you are not alone. College life is money consuming! Between housing, tuition, food, entertainment, and much more, many college students end up racking debt that can take years to pay off. However, the good news is that there are many methods that you can adapt to save substantial amounts of your hard earned cash while in college.
Create a budget
This rule applies to everyone when it comes to saving money. If you can’t account for how you allocate or use your money during the month, come up with a clear budget showing your income versus the expenditure. By keeping a record of the things you buy; it will be easy to cut off the unplanned expenses and save money. However, keep in mind that your budget will only work if you are disciplined and stick to it.
Purchase used textbooks, or use online versions
Buying new textbooks or learning materials is more expensive than using second-hand books. However, they contain the same content. So, go ahead and look for the online or used versions of these books and save huge chunks of money.
Skip the expensive meal plans
When you’re choosing where to get your food, think about which option is the cheapest. You can choose to purchase three meals every day from the school cafeteria or you can prepare your meals for yourself. Usually, cooking for yourself will be less costly. Remember – it doesn’t have to be peanut butter and jelly sandwiches or Ramen noodles all the time. While not all cafeteria meals are expensive, you will save more cash if you skip the most expensive meals plan and cook the food yourself.
Use the cheapest transportation method
Look for a subway system or a local bus schedule for transportation purposes instead of using a personal car. Using your own car will cost you more on fuel, parking, insurance, and other unplanned costs. Additionally, if your college offers transportation service, take advantage of that service because you will probably get free rides when you use your school ID.
Find more ways to earn
As a college student, you will probably have extra time when you are not doing class work; you can use this opportunity to get a part-time job which will earn you extra cash. For instance, you can work in a restaurant or deliver pizzas to your fellow students. You can also tutor other students in the subjects which you are good at. You should, however, not involve yourself in an activity which will interfere with your regular education schedule.
Use credit cards wisely
College students receive many credit cards offers. While it’s vital to use the credit cards to build your credit score, make sure that you use them wisely. Be extremely smart with your credit cards – especially the first one you get, to avoid abusing it.
It’s these little money-saving efforts which make a difference while you’re in college. Look for the best ways to conserve cash for you, but remember to be creative, disciplined, and maintain a simple lifestyle.