Easy Ways to Save Money When You Are a College Student

Easy Ways to Save Money

easy ways to save money

Easy ways to save money

Many college students, stifled with the sudden high cost of college, upon entering, have probably stop to ask themselves, “what are some easy ways to save money as a college student”? at different times during their college years. College is all about acquiring a quality education, focusing on a degree, and some side advantages are making new friends, and enjoying the educational and social process. But a lack of financial “awareness” on a student’s part, can make it a period of constant financial turmoil and emotional strife.

Every student entering college arrives with a dream of collegiate success, some are, but many don’t complete their course of study due to financial hardships. The reason for this disparity is not because few students are financially superior, but because they possess the ability to budget and save while in college.

Earning money during college is one thing, but students can increase rainy day savings by starting the habit of focusing on easy ways to save money. Having money in your pocket feels good and the habit of saving money gives you peace of mind, and a bit of financial security. The challenge is, of course, is how to achieve the goal of saving money while in college. Well, to help college students, I’ve come up with the most amazingly practical ways of saving money listed below.

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Start With Budget Preparation For Easy Ways to Save Money

Most college students shun the idea of preparing a budget, but believe me this is the best way of initiating your saving process. A budget is nothing but a statement showing your estimated expenditures coupled with income. You have the freedom to go in for minute details or prepare a superficial budget based on your needs, but I advise you to prepare a detailed budget, so that leaking cash can be easily spotted. After preparing a full-fledged budget, let us find out the ways in which cash leaking can be avoided. The main question when preparing a budget should be, “easy ways to save money on just about everything you do and delete things you don’t need to do”.

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Apply For Scholarships and Financial Aid

The first step to saving before and after entering your college life, begins with applying for scholarships or financial aid. This kind of aid is generally given to two kinds of students- 1. meritorious and/or 2. needy, so if you belong to either of these categories, do apply for scholarships as it would help you save a lot of money which would otherwise come out of your personal budget.

Understand FAFSA (also known as the Free Application for Federal Student Aid), you can download it from the government website used for getting private and government aid for college. You can file your FAFSA application online as soon as it comes out, the sooner you apply, the better your financial aid. List every single college you may apply to, and the award will later be sent to the college of your choice.  Do everything you can to keep student loans to a minimum, your number one consideration when choosing a college is staying out of debt as much as possible, your college must be affordable to start. [link to student loan article]

Buying Old Books or Clothes

We live in a time where many college students are actively participating in various environmental savings activities, and believe in the concept of ‘renew, reuse and recycle’. You will be surprised to know that for college students, this can be a process for saving a lot of money. Yes, buying old books and clothes not only allows you save a lot of money which eventually adds up to a lot in savings, but also allows students to contribute to the environment, by saving resources and energy. Look for stores where used books and clothes are sold, and purchase those in good and usable condition.

Roommates in College May be a Good Bet

Saving money is not an easy task, it takes a lot of effort on the part of a person, but for a college student, there are plenty of answers to the question ‘how to save money’. Living in college dorms or apartments is costly, but if you find yourself a few roommates, you can avoid a lot of extra expense, and thus save money. Do a careful analysis of the people you choose as roommates, make sure they are in college for the right reasons, and they pay their bills on time.

A Healthy Transportation Option

College campuses are scattered over large areas and thus having a vehicle becomes a necessity when you must move from one place to another on campus, some campuses are huge in area. But who said that only a motorcycle or a fancy car can solve your problem, if saving money is your target then go for a bicycle instead of other transportation options. A used bicycle is easily available from any shop near college, so take advantage of this healthy transportation option and save on your fuel and repair expenses. Create ride share teams with other students when you must take a car, and use public transportation to get to and from school when it is available.

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A Part-Time Job

The task of saving money can be eased by taking up a part time job on your college campus or any store nearby college where you shop. By taking a part-time job on your college premises or nearby, you can pay major expenses such as gas or food.  However, if you don’t want to get a job at your college, then look for a job opening at a retail shop nearby college where you shop regularly, which would help you get things you need at a discount, which can be considerable.

 Student Discounts and Freebies

Many e-commerce websites and retail shops offer a variety of student discounts such as hair products, grooming accessories, clothes and food items. Receiving discounts will help you save a lot of money and reduce your expenses, considerably. But not everything is available with discounts and this is the reason why we recommend you stay on the alert to look out for freebies and giveaways, don’t be afraid to use coupons when you are in college.

By following the prior suggestions, a student can learn easy ways to save money during his/her college life. We hope you’ve got some useful and exciting answers to the question ‘how to save money’ that would help you make your college life more affordable.

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Lois Center-Shabazz
author of, Live Rich Save Money! Budget Diary
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author of, Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever
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About MsFinancialSavvy

Lois Center-Shabazz is an award-winning author and winner of the Pinnacle Book Achievement award for personal finance. She is a Personal Finance Blogger, Course Creator and Money Strategist, who is also a successful Mutual Fund Investor. Click "Let's Chat" in the top toolbar and schedule a meeting with Lois to discover your top level personal finance abilities.

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