Budgeting Tips: How to Save Money and Manage Expenses in College?

Good education comes with a big price tag. It’s unfortunate, but true nonetheless.

Even if you have one of the best HBCU scholarships, you can’t afford to make mistakes with money management. Until you graduate and get a real full-time job in your career, you have to save as much money as possible and keep your expenses in check. For your help, the following are some of the best ways to do that:

1. Buy used books, and sold old ones

In the recent times, the cost of college books has increased as much as 73%, with the majority of books costing nearly $200. In fact, some can even touch $400, which is a lot.

Even though buying books can burn a big hole in your pockets, you cannot do without them. After all, they’re where you get your education from. However, you can still greatly bring down the expenses by spending smartly.

There are a number of websites such as Amazon, Thriftbooks, etc. where you can easily find your course books in used condition. A love of times these books look as good as new, or usable at the very least. So, it makes sense to save a good deal of money by choosing them over new books especially when you may not even need them after the end of the semester.

Apart from buying used books, you can also sell your own old books to make some money. Of course, if you think you may need a certain book in the future, you may want to hold onto that.

2. Arrange for a small income

Even while you are studying for your future career, it’s a good idea to get a part-time job or arrange for a small income through some other means. This is because it can help you become a more responsible person and also make it easier to manage your college expenses.

There are various ways you can find part-time jobs in your area. You can check newspapers, online classified websites such as craigslist, etc.

If you are good at something, such as writing or graphics design, then you can also make money online by becoming a freelancer. In fact, gig economy that’s based on freelancing is all the hype today, and there are countless opportunities on the Internet if you know where to look for them.

3. Shop Online

Online shopping is popular not only because it’s convenient, but also because it helps you save money.

The prices on e-commerce portals are highly competitive, especially when you compare them with your local stores. You can enjoy great offers, huge discounts, and even special perks during festive seasons. A lot of online stores also allow you to use coupons for additional discounts. So, instead of buying items from your local stores you can shop online to save money.

4. Cook at home

Do you like to eat outside often? If your answer is “yes”, then you should think again.

It’s not wrong to eat at restaurants and diners, but when you want to save money, it’s better to cook at home instead. Besides, this way you can enjoy a nutritious meal and avoid junk food which is bad for your health.

5. Use a Bike

Apart from food and accommodation, transportation costs are what that can make a big dent in your savings. So, if you are using your car to get to college, you can move to public transport instead. However, if you want an even better option, then why not get a bike?

A bike is an eco-friendly option that not only saves money but also makes you fit and healthy. So, why not?

6. Use Credit Card Wisely

While credit cards have their advantages, when used irresponsibly, they can do more harm than good. For instance, if you like to make “minimum payments” more often than not, then you could be hurting your credit in the process and pushing debt accumulation. So, it’s important that you educate yourself on the subject through websites like moneyunder30.com etc. to ensure that when you need to raise your credit limit or personal loan, you don’t have a hard time. It will also ensure that your debt is under control and that you graduate without any problems.

So, these were some of the top money-saving tips that you can be of great help to you during your college days. Be sure to apply them- you are sure to realize a major improvement.