Tips on how to save money
Surviving College Life has created a list of 50 Ways to Save Money in College. The list is broken down into eight categories that basically covers everything. Here are what I think are the top five tips (with my comments):
19. Use student discounts when you travel. Check with the bus, train, or airline you are using, or use a student travel site like StudentUniverse.com. Don’t limit this to just travel. Most places in a college town have discounts for students. Use them!
22. Reduce your electricity bills: turn off your computer when you’re not using it, turn off lights when you leave the room, unplug appliances you aren’t using. Electricity is my second-highest bill, which I thought was due to my air conditioning. After doing some experimentation, I realized it’s my huge entertainment stations – TV/Playstation and my computer desk. Turning off electrical items is a tip which you will frequently encounter at money-saving sites such as lovemoney.com, and it’s one which can have a big impact on the size of your bills. Getting into the habit of turning off electrical appliances is also something which will benefit you later in life, not just during your time at college. When I turned these things off for a week, my bill was CUT IN HALF.
35. Understand what your credit score is, and keep it healthy! It will help you save money later when you’re looking for low interest rates on car or home loans. Credit is very important for later in life and if you start building it (smartly) now, you will be ahead of your classmates by a long shot. Need help with this? Try Get Rich Slowly.
39. Don’t eat out. It adds up quickly, and if you’re not getting fast food, you have to add a tip. Eating out is one of my vices and I’m working on that. Restaurants are expensive and can be just as unhealthy as McDonald’s. You’re much better off (budget-wise and health-wise) if you cook healthy(-ish) meals on your own.
48. Sign up for freebies with your favorite restaurants. By signing up with Hollywood Video’s newsletter, they send you free movie rental coupons on a regular basis. I use these to supplement my Netflix addiction.
Visit Surviving College Life to read the full article, 50 Ways to Save Money in College.
When in debt, people often think of weird debt help solutions. Usually they resort to loans, and in some cases, mortgages. This issue is frequently faced by individuals who do not use their credit card well and have never believed in investment of any sort. Researching online savings accounts information and talking with your financial coordinators can help avoid these situations when planning for larger expenses in the future.
I get student discounts next year because Im staying on for 6th Form.
Will be very handy! I suppose turning things off at the plug really helps with electricity! Saving money foodwise is quite difficult, because I found, when shopping for my mum, that the unhealthier things, and own brand things (such as Tesco Value) are cheaper than the more healthier things. :S Tis silly really!
This is very useful, but I won’t be a student anymore come April! I’m graduating soon. But some of the tips I can still use
looking back, i think i may have missed #39. i always ate out during college which is why zero is my remaining balance by the end of the week.
Omg, it is really usefull actually. I won’t be using them for about 4 years though! Thanks anyway and I love the colours of your site (:
Love, Hallie
I have those down! I just need to do a check on my credit just to be sure everything is correct.
I think the golden rule should always be to buy bulk. I’m not in college, but buying bulk has always saved us a ton. (We have a Sams Club that we go to for these kinds of purchases.)
I took a look at the list you linked to, and to be fair, he could have squashed it down by a few (it was kind of redundant to say not to buy your books new and then add another number for buying them used.) If I’m not buying them new, then what am I buying them as?
The part about tracking cell minutes could be reduced by either going with a pay as you go phone or picking up a plan that has unlimited minutes (or simply asking to be put on your family cell phone plan would work just as well.)
Usually when people work through college, I’ve known some to get jobs at either a fast food chain or a local restaurant – either way, their food was either at a major discount or completely free (as was the case when I worked at Wendy’s or McDonald’s.)
“Avoid buying snacks at the movie theater; they always overcharge you.” I used to work at a movie theater and the reasoning behind the overpriced food is the fact that the theater itself turns the largest profit from snack sales.
Nice find – there are a few things on the list that will definitely save some money, and I’m sure that your readers could come up with more – just takes a little bit of ingenuity and abstract thought. You never know where your next dollar can be saved until you experiment.
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These are great tips, and as a recent grad, I would say that they also work once you are out of college, and a part of the work force, as well. I have actually calculated some of my savings and have put it all into a high-yield savings account.
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If you happen to know another language (main ones, German, Spanish, Chinese, etc.) check foreign airlines for flights to overseas, I am living in Germany and had a friend who had to fly back to the States U.S site: $1,000 and a German site: about 500 Euros. Knowing another language helps!
Great article with fantastic ideas. Adding this page to my favs right now!
I love this article, it has so many precious tips especially for people who study. I know that after some time spent studying you discover the ways to save yourself but why not be wiser already at the beginning and avoid expenses we don’t need using these simple tips.
Cut back on junk/fast food. Has anyone else noticed how a cup of coffee can be > 5$ now. That’s over 150$ a month just on coffee!
continue with the the good work on the blog. I like it. Could maybe use some more updates more often, but i’m sure that you got more or better things to do , hehe. :p
What I normally do is to put aside a small amount of my allowance everyday so at the end of the month I save it to the bank. Then after a year I was surprised that I saved a lot of money to start a small business. Hope this will help and inspire other students out there.
Great blog! You should start many more. I love all the info thanks I will stay tuned