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Saving Money While in College

April 13, 2017
Saving Money While in College

When you’re in college, you need to start learning to save money. It will help you in many ways.

First, you will have more money at the moment. Second, you will have money saving skills which you’ll certainly need in the future. But if you think that saving money means no fun or adventure, you’re wrong. In fact, it means learning to have enough for everything you actually need. Let’s see the ways you can save money in college and still be cool!
 

1. Food Expenses. Of course, you cannot stop eating. Nevertheless, you can spend less money on the food you buy every day. All you need in to add a bit more discipline to your food budget. Here is what you can do:

– Create a food budget every week and follow it

– If your campus meal plan has been paid for, use it

– Avoid eating out when you can cook yourself, eat at your parents’ home, or somewhere else

– When you’re eating out, avoid ordering alcoholic drinks

– Don’t buy coffee drinks, smoothies, and similar treats in cafes. Even though they may cost a little, if you buy them every day the entire sum will take a large chunk of your food budget. Better buy a coffee maker or a blender to make these drinks on your own. They will surely be even tastier then!

2. College Expenses. Purchasing books and paying for tuition can do serious damage to your finances. To avoid this, try the following tips:

– While you’re still in high school, set up a college saving plan

– Buy used books when it’s possible. They can cost twice cheaper than new ones

– Sell the textbooks you’re no longer using online or in your campus bookstore

– If possible, pursue scholarships and grants. You can do it even beyond your freshman year.

3. Credit Card Expenses. You have to remain sensible when using your credit card. It can ensure your survival when your money is especially tight and help you build a credit history. Follow our tips to use your credit card wisely:

– Use it only in emergency

– Distinguish your wants and needs and use your credit card only to buy the things you need

– Always pay the balance on time

– Keep your credit limit low

– Keep away from impulsive purchases

It is possible to learn to save money at college. Save your receipts and analyze all your purchases. If you consider even the smallest ways to cut back, you can end up having a lot more money on the things you need. Remember that you don’t have to endure hardships. You only need to use your money in the wisest and most sensible way. 

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