How to Save Money When You Are a College Student

Here are 15 steps towards wealth for college students from Papercheap.co.uk writers.

The trouble of low financial resources is especially urgent when you are a college student. On one side, studentship years are your golden time, the period when you discover many new things. You make new friends and feel a lot of positive emotions. It is also a firework of joy and pride for becoming an adult and independent person.

On the other side, real-life conditions always make some corrections. Then, the “hungry” studentship comes instead of great happiness. So, how should you save funds without refusing the most necessary things?

College students are yesterday’s children. Their wishes are frequently filled with toys, but more expensive ones: cars, entertainment, traveling abroad, premium and elite things, etc. How can you refuse such a beautiful life? How can a college student not to take everything their life gives?

Studentship time passes by and makes you save money on everything. Without proper education, you won’t have the opportunity to live your full life for long. Additionally, the help of your parents is not eternal.

College students can solve money problems differently. Some of them go in for high scholarships after great academic successes. Others look for part-time jobs to work during their free time.

Still, no matter how hard you try, there will never be too much money. Nowadays, education is expensive. It limits family budgets, so parents frequently can’t sponsor other purchases of their children. Nevertheless, college students can keep up with a bunch of tested ways to save money and stay away from debts.

15 Ways for College Students to Save Money

Let’s take a closer look at 15 simple recommendations for college students to help them save money.

1. A Goal for Students to Save Money

Any economy should have a goal. So, it is critical to know what you need funds for. Thrift and prudence are two mutually fulfilling features. Don’t be too shy to save money at college. The economy doesn’t mean greed.

2. No Big Purchases

Don’t forget it is better to live according to your funds. You should avoid spending more than you can afford.

3. Beware of Banks

You should always be careful with bank loans. Financial freedom can turn into endless debt bondage. Moreover, easy money (you didn’t earn them!) brings a risk to spend it impulsively. It is better to store funds instead of buying unnecessary things. Keeping that in mind is helpful.

4. Students Shouldn’t Use Credit Cards

The best way to buy what you want is to save money for it. It’s okay that you can’t afford something instantly. Try making it your financial goal. With credit cards, you’ll most probably lose more than gain.

5. Discounts Are College Student’s Best Friends

As a college student, use discounts to save money in food courts, transport, supermarkets, etc. Your ID-card is a universal instrument to get different rebates, and this possibility is profitable.

6. Friends Will Save You

The life of college students is a kind of social activity having certain advantages. For instance, organize buying expensive food products together. It will make them cheaper, and will also let you visit friends more frequently. The combination of useful and pleasant things has never been that easy before.

7. Students Use Public Transport

Nobody can forbid you to want a cool car. But try using public transport instead. It is how you can save on fuel and car maintenance.

8. No Smoking

It is much better for smoking young people to quit it. The harmful habit does not only hurt your health. Smoking also hits your pocket seriously. The more you smoke, the more expensive the habit becomes.

9. Save Money with Healthy Food

Of course, a café is a favorite place of many people. But at first, it is expensive and pointless if you want to save money. At second, fast food dishes cause adverse effects on your health. The food cooked at home is the most rational way to save money. Besides, it is tasty, fresh, and useful.

10. Student Living

More than half of college students face living problems. All freshmen want to get dormitory places for themselves, as they are significantly cheaper than renting an apartment. But what if you fail to find a dorm room?

There is the only way out – to rent a room or a whole apartment/house. Then the next question is how to save money if you can’t afford that kind of luxury?

Then, you shouldn’t rush. Try to estimate the real estate market situation adequately. Avoid calling for the very first propositions from realtors. It is possible to find a living on your own.

Maybe, you’ll find an apartment with the affordable rental cost close to your college. Additionally, it is fine to live together with other people you know, up to 4 persons in a flat. It’s not only funnier and safer, but it can save you a large part of your monthly income.

11. Use the Internet

Modern educational technologies allow using all Internet resources with their full power. Before buying a necessary book, try looking for it on the world wide web or a city library: maybe, there is a way to borrow a digital copy.

12. Copy Materials Cleverly

A college education cannot pass by lectures and additional materials. But photocopying can become expensive for your wallet if you copy everything you see. So, it is excellent to use gadgets here. Try to take a photo of a page or scan the material to reduce your expenses and get rid of that paper routine.

13. Suitable Smartphone

College students who want to save money shouldn’t buy expensive smartphone models. It’s not a necessity but an expensive toy. Instead of calling your friends daily, try using a phone only when it is required. To save money, students should also find a suitable and affordable tariff plan and refuse paid SMS.

14. Find a Part-Time Job

Many students start their professional careers during college studies. Part-time jobs are sufficient to add some funds to your budget, especially when you are a specialist in some service. It is excellent if you use all your knowledge. Still, it is strongly recommended for students to be attentive and careful when choosing a job. Your goal is to earn funds, not to lose them.

15. Stay Healthy

Supporting your physical shape and overall health will help you save much money on medicine during flu seasons. Sports don’t only mean health but a great habit.

So, as you can see, college students can save money on their own. You shouldn’t give up and sit still in tough financial situations. Finding an exit and remaining active is a guarantee for you to avoid becoming a “poor” student and to become successful and effective in the future.