How To Save Money In College

You heave a huge sigh of relief as you gather all the funds to pay for your college tuition fees and accommodation. You may have been granted a scholarship or your parent’s savings must have been just enough to allot yourself a seat in your dream college. However, the expenses do not just end there. Whether you decide to live extravagantly or not, sailing through your college days is definitely not a free lunch. Surviving college with a shoe-string budget might not be same as climbing Mount Everest, but bear in mind that it will be as taxing. Resisting the mighty urge to overindulge is essential to ensure a financial stability in college life. There are students who splurge in the first few days and then starve for the next few weeks. On the contrary, there are students who spend judiciously, dodge unnecessary expenses and live a trouble-free college life. Which one do you wish to be is a choice best left to you. But, if by any chance you are aiming for the latter one, know that the art of saving is the key to do so. Explore this article and adopt the essential money saving methods that will render your college journey less burdensome.

 

After education, your top priority should be having a safe roof over your head. No doubt you can cut corners by sparing yourself the luxury you had back at home, however, ensure that your accommodation meet the basic standards of hygiene and safety. Scout for a decent roommate to lessen the rent, if you cannot find a decent hostel. If your college has a dormitory, pounce on the opportunity and don’t miss out on the reasonable stay. However, if you are adamant on renting a quaint place, make sure that it’s close to your college premises so that you can escape traveling charges.

 

Most college campuses provide food cards for students and palatable food at subsidized rates. There may be options where you can buy non-perishable food for one whole semester to make your life easier. If your room has a cooking stove, learn to cook your favorite dish and keep a distance from the fleecing restaurants. Split the grocery bills with your roommates and your pockets won’t be empty as you had initially dreaded. Instead of swooping on the grilled sandwiches at a pricey restaurant, make sandwiches at home with peanut butter or cheese spread. Eat at home and save money!

 

Make an initiative to form a study group. Incite enthusiasm among dedicated students to form a club where not only do the members discuss academically-related topics, but also share materials and sources with the intention of helping and obtaining new insights. Books are expensive and If students could borrow and lend from one another, costs could be split and ends could be met!

 

Look out for a bank that caters to students in particular. You may avail a free savings account. Give the bank full liberty to nag you on excessive ATM withdrawals and fund transfers. Save every penny according to the tunes of a trusted bank and avoid attached fees, as you manage bills through internet banking. Take free checks from the bank and avoid spending extra pieces of green paper. If you so have a credit card, ensure that it has the lowest interest rate possible!

 

College isn’t complete without a bunch of drunken anecdotes! So how do you cough up the cash to pay for your mountainous pub bills? Control yourself and limit your urges to once a week. Take advantage of the happy hours and stick to beer. It’s the cheapest! Hit the bars with less currency, as this will limit your expenditure! Don’t booze too much. Not only will you see 0’s in your bank account, but you’ll re-encounter them in your exam papers as well. Brew cheap wine if beer doesn’t suit your taste buds, or if you fear the beer belly!

There will be certain student rebates for transportation and even entry fees for museums and the like. Don’t be lazy to find them. Research on the internet or ask around. Flaunt your ID and avail the fabulous student discounts! Similarly, communicating and keeping in touch with family and far off friends will cost a bomb if you intend to use your phone. No doubt, several service providers might hook you up with amazing schemes. However, take advantage of Skype or Voip. Even Facebook, Orkut and MySpace are excellent ways of communicating and sharing regular updates.