10 Money-Saving Tips for College Students

Some students want to live the life of a rock star, but can’t because they don’t have the money. Living above standards on campus to look “cool” is unhealthy and one way that you will face a huge debt bill after completing your course.

Colleges assign students assignments, and you’ll want some extra cash to hire inexpensive essay-writing services such as writing a college paper. B. Affordable Papers when the going gets tough. Below are 10 money saving tips that will help college students have some extra cash in their bank accounts.

Have a monthly budget

One of the best ways to save money while studying is with a monthly budget. Students can get too excited at times when they see they have a lot of money in the bank. Set an amount you want to spend per month and stick to it. Take a piece of paper and write down all of your monthly expenses, which should include food, books, transportation, and more. Don’t spend more than your set monthly budget and keep track of your expenses.

Download an app that will track your expenses

Gone are the days when you had to keep track of your expenses on a piece of paper. We are very fortunate to live in a world full of apps. The iOS and Android stores have apps like Pocket Guard and Mint that you can use to keep track of your pros and cons. Thanks to these apps, which can be linked to your bank account, you can also create budgets and set spending caps every month.

Know the difference between what you want and what you need

To save as much money as possible, you need to know the difference between what you need and what you want. Avoid buying things just because all of your friends have it or it is an accessory that is fashionable. In other words, don’t buy things to earn brownie points with your friends. Make it a priority to buy the things you need every day.

Make a list

Whenever you go shopping for groceries, make a list of the things you will need. This will help you prioritize what you need and stay away from unnecessary things that will only put a strain on your finances. Remember to never go shopping on an empty stomach as you will be tempted to spend more than you planned.

Consider renting instead of buying

Students spend a lot of money on books to help them through their expensive courses. Instead of buying new books that will only be of use for a year or semester, borrow or buy used ones. There are so many websites on the internet that allow you to borrow books for a small fee, such as Amazon.

Public transportation is your friend.

For students who don’t want their own car, public transport is a blessing. If you want to save money, take the train or bus to and from college. They are great alternatives to renting a taxi or spending money on fuel. Many train and bus companies offer student discounts on weekly and monthly tickets. Some students are not fans of the hustle and bustle of public transport. If that is you, consider cycling. Buy a quality bike and cycle to and from college when you have lessons. This will also keep you fit and healthy.

Take advantage of student discounts

Most stores, museums, transport companies, airlines, and more offer student discounts. To find out what discounts they have, all you have to do is ask. For example, Apple offers a student discount on its products. Same goes for Microsoft, Amazon, Audible, Evernote and more.

Buy used items

Sites like Shpock and eBay are great for students looking for high quality products at great prices. Sign up and save a fortune on the thousands of items you order. Also, the good thing about these sites is that not only can you buy items, but you can also share all of your unwanted items for extra cash. You can earn and save at the same time and get the best of both worlds. Do not hold onto objects that you do not need; put them up for sale.

Make sure that all of your bills are paid on time

Once invoices are received, make sure you pay them on time, as delays can lead to late fees. For example, credit card companies have a habit of charging late payment interest, and the longer it takes to pay, the higher the fee you will pay. As long as you are planning your finances well, you should be paying bills right away to save money.

Avoid takeaway or food.

If you dine in restaurants all the time or order a lot of snacks, it will consume your finances every month. It’s much cheaper to buy ready-made meals in bunks and keep them in the fridge, buy ingredients and cook them at home, and make your coffee instead of buying them on the go. This not only saves you money, but also lets you live a healthy lifestyle.

The bottom line

Over 70% of students starting their first year of study are taking care of their finances for the first time. No student will ever get it right the first time they try to save money. They will make mistakes, but learning from them will make a world of difference in their college life.

Learning how to save money while studying is a skill to take with you for a future career and apply in personal life as well. The tips mentioned are the best ways any college student, even a novice, can save money and manage their finances effectively. Not all of the effective money saving tips above will work for everyone, but every student needs to choose the one that works for them.

source https://collegeeducationnewsllc.com/10-money-saving-tips-for-college-students/