Last Updated on November 16, 2016
Saving money in college can often determine the academic success of students. Between studying for finals and writing term papers, there is not a lot of time to worry about finances. Students can save money and get the most out of their college education by following these simple tips.
1. Live with others
The best way to saving money on housing is to split the bills. Living with friends or staying with parents will save students hundreds of dollars each month. If living with friends or relatives isn't an option, many students can receive free room and board by signing up to be a Resident Advisor. Check with your university for more information on their policy.
2. Stay on the family plan
Cell phone bills can really put a dent in students' wallets. Staying on the family plan while away at college can save students on average $80 each month.
3. Rent textbooks
Buying textbooks can cost upwards of $600 each semester. Save money by renting college textbooks and returning them instead.
4. Ride a bike or public transportation
Don't waste money on car maintenance and gas. Riding a bike is a great alternative for local travel. It's also good for the environment.
5. Eat at home
Eating out is costly and unhealthy when a student is living on a budget. Fast-food may seem convenient but it is also expensive.
6. Open a savings account
Savings accounts earn interest over time and some banks even give you money for opening and account.
7. Test out of classes
Many universities require that students study a foreign language as part of their degree program. By using the Rosetta Stone , students can learn a language at their own pace and save money on classes. Currently, they offer a free demo of their online course; if you decide to choose the full course make sure you use a voucher code from mamma.com for Rosetta stone to make it cheaper!
8. Sell unwanted items
Students can make a lot of money off of the things they no longer use. Old movies and clothes can be sold online or to local second-hand stores.
9. Apply for grants and scholarships
Every year, scholarships and grants go unawarded simply because no one applied. Taking a couple hours to write an essay could save anywhere from $500-$5,000 each semester.
10. Find entertainment on campus
There are often campus bulletins posted to notify students of upcoming events that are free or low cost. This is a cheaper alternative to cover fees and tickets.
