5 Easy Money Saving Tips for College Students

  1. Make a Budget to Verify Your Expenses.

Keep a list of your spending and collect the cheques to strike a balance at the end of the month. In such way, you will be able to monitor your expenses and compare them with your income. You’d be surprised to find out where and how most of your money fritters. This worksheet is a perfect way to brainstorm your expenditures and get an idea how you can cut back on them without feeling guilty or exhausted.

  1. Cook Your Own Food

Make it a habit to go grocery shopping and cooking your own food (unless you are in some insane hurry). Having somebody else making your food costs an incredible amount of money, especially if you live off-campus. You can spend an average $2 per day making your own meals as contrasted with a solid $10 per day if eating out. Cooking it up means new ways to be frugal, make friends and explore the world!

  1. Drink Your Water

Do you know that if you buy a bottle of water per day, you spend close to $1,500 a year? The answer to save on this cost is filtered water. You can save the double of it if you cut on the beer or alike. Drinking wisely is also healthier for you and your wallet.

  1. Rent Rather Than Buy

Do you know that textbooks are some of the most expensive expenditures for a college student, totaling an average $ 1,000 a year? Is there any alternative? Well, yes! If you rent, it would cost you around $50. You can save even more if you use online book stores, such as eCampus, CollegeBook, Chegg, Textbookx or simply if you rent in the first place.

  1. Consider Transportation

At all costs, try to avoid car traps! Try to utilize public transportation instead. If you life off-campus, try to find an area that is close enough for you to walk to the class.

A college is a place for a lot of discoveries – be it your studies or daily routine. Develop new ways to be frugal and enjoy a new quality of life!