When you’re a college student, and sometimes even when you aren’t, every single penny counts. But when you’re still in school, it’s the perfect time to work on forming good financial habits that will benefit you for the rest of your life. Today I have some tips for saving money while in school. Don’t leave before you check them out. Your bank account and your future will thank you!
Here are the top ways of saving money while in school:
- Live with roommates to share the costs of housing and utilities. Now’s the time to do it while you’re young, and remember, it’s only temporary!
- Instead of paying for cable, use Netflix. It costs a fraction of what cable does. If you have a Blue-Ray player, rent movies from the library for free.
- Look around, because lots of places in college towns offer discounts to students with a student ID card.
- If your college offers the use of a gym for free, then certainly don’t pay for a fancier gym membership. You can totally make the campus gym work!
- Don’t pay for activities–watch for free events around campus and town and take advantage of them.
- Open a student savings account that earns more interest than a standard savings account, then add to it as often as you possibly can.
- If you use a credit card, make sure you pay if off each month. If you do, it’ll help you build a positive credit rating. If you can’t trust yourself with a credit card, then pay it off and cut it up.
- Buy used textbooks whenever possible! Sell your books back instead of hanging on to them at the end of each semester.
- Don’t go grocery shopping on an empty stomach. You’ll spend more!
- College is a great time to walk, take the bus, or ride a bike. Save yourself the costs of driving a car if you possibly can.
If you need more motivation, check out some of our money-saving challenge ideas.
Saving money while in school can only help you once you graduate and have to assume the costs of paying back student loans, buying a car, and starting a family, so it’s worth doing it well!