Tips on Saving Money in College
When it comes to college, adhering to a few frugal habits can save you thousands of dollars by the time you graduate.
Here are some tips on how to spend less money during your college years:
Although the cost might seem steep once you wheel your hefty shopping cart to the cashier, getting groceries instead of dining out is a far more cost-effective way to eat. Eating at restaurants adds up and can leave you out of hundreds of dollars by the end of a year. Electing to go grocery shopping once a week keeps costs down. Additionally, there are apps and websites available that plan daily meals and organize grocery lists for you, making grocery shopping easier than ever.
Shopping for your meals also can be cheaper than buying the college’s meal plan. If you have the proper appliances and the patience to make your own meals, grocery shopping is the most affordable way to eat in college.
On the occasion you do eat at a restaurant or visit a business in your college town, keep your eyes peeled for student discounts. Many companies offer special deals to students if they have their college ID. Deciding to frequent these businesses over those without such discounts can save you more money than you’d expect.
Track Your Spending
Whether you pay with cash or use a debit or credit card, tracking your spending habits and balance is essential to saving money. Make a weekly spending budget for yourself and try to cut it down week by week until you’ve reached your limit. Testing your spending habits and tracking which purchases are more necessary than others is a great way to prepare for keeping track of your finances. Free apps like Mint, Digit and Wally make budgeting simple and less intimidating.
Participate in Studies and Surveys
Signing up for an on-campus study is a time-efficient and effortless way to boost your disposable income. Money made from these side jobs adds up fast. Having an extra source of income can help you justify the occasional restaurant meal or clothing purchase. Look online or ask faculty about where to sign up for studies.