College is stressful enough without constantly having to think about paying off your tuition, rent, and living expenses. According to Education Data, 64% of parents either save or plan for college ahead of time, with parents paying for 10% of total college expenses on average. Depending on where you live and your access to a savings fund for college, you’ll have to figure out new ways to cut back your expenses.
As a student, it’s your job to contribute to making ends meet by budgeting and planning how much you spend on day-to-day activities. Let’s take a look at how you can start saving money as a student without sacrificing your social life or mental and physical wellness in the process.
Get Second-Hand Books and Materials
You’ll undoubtedly need hundreds of dollars of money you can’t afford to spend if you want to buy brand-new books for college. Thankfully, many colleges and their courses can be tackled with second-hand books. Look online and on campus to see if you can find students selling their old books.
You’ll not only save money by using second-hand books, but you’ll also gain those students’ notes and insight on what to expect in the upcoming curriculum. You can then use the best essay writing service in USA to get your academic papers written professionally and before the deadline. Avoid buying new books whenever possible and go with a more economic option instead.
Use Online Coupons
Thanks to the internet, you can shop for clothes, accessories, and other items more easily by using discount coupons and exclusive deals. Coupons, deals, and gift cards are only some ways to save a lot of money.
You can discover a plethora of amazing offers from around the world by keeping your eyes open for new coupons to use. As a student, you can buy affordable clothes or get all the college supplies you need for cheaper. This will help you save some money but also get everything you’d like to buy at a discounted price.
Start Freelancing Part-Time
Whenever you have a few hours to spare, you can freelance online and earn a bit of income. Freelancing is a great way for students to make extra money by working as designers, virtual assistants, teachers, writers, etc. All you need to do is establish a presence on several freelance platforms and start applying for new projects.
You’ll quickly realize that you can start saving money and not risk cutting back on important expenses like groceries or your medical needs. Freelancing is also a good way for you to expand your resume with new skills and experience while still in college.
Use an App to Keep Track of Finances
Without a way to keep track of your finances, you’ll blow through your allowance or savings before you know it. Instead of leaving things to chance and hoping you don’t overspend, you can use smartphone apps to keep tabs on your expenses. Some of the best apps to try out include:
- Spending Tracker
- Personal Capital
- You Need a Budget (YNAB)
- Goodbudget
- PocketGuard
Different apps will come with various features such as locking you out from spending more than you should or notifying you of upcoming bills or expenses. Learn to spend smartly instead of avoiding basic expenses which you have to pay for regardless of how careful you are with your savings.
Plan your Weekly Grocery Shopping
Depending on whether you live with roommates or by yourself, you’ll need to start managing your grocery shopping. You need to eat three healthy meals per day for your physical wellness and daily energy levels to remain optimal. Avoid eating fast food and snacks and start cooking simple but savory meals.
Buying fruits and vegetables in bulk can make it easier for you to cook throughout the week while also having access to delicious and healthy snacks. This will also help you save money in the long run since you’ll avoid ordering food or eating processed and fast food just to eat something quickly.
Saving Money as a Student
There’s no doubt that you’ll have to start spending less when going out with your friends or traveling less than before. College is a difficult period in anyone’s life, regardless of how well-off you may be financially at the moment.
Don’t risk coming into a situation where you’re broke and need to ask your parents or a bank for money. Start saving early and manage your expenses more carefully to keep things under control for longer. Treat it as an exercise for adulthood and you’ll handle managing your savings more easily.