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This post is all about how to save money in college.
Hey guys, we all wanna save more money right? For some reason though it can seem so freaking hard. Especially now with the economy in shatters. And let’s be honest, we need money to buy everything. From that night out at dinner, to a gift for your best friend, or even saving for a car. Saving money is SO important.
And trust me, I know how hard it is to save money in college. Honestly, in general. It seems like as soon as I get a paycheck, I’m immediately spending it. And then of course I never have money left over for the things I actually wanna buy.
But it doesn’t have to be this way at all. There are strategies that you can do and ways you can learn to save money effortlessly so you can have it (for things you actually wanna buy) for when you really need it. That’s what this post is all about. I hope you find all of these helpful and more!
This post shows you tips to save money in college.
BEST WAYS TO SAVE MONEY FAST
1. Stop eating out so much
Okay, I know the point of this is to help you save money so you can be able to eat out more. (Actually it’s really for important stuff.) But really, this is a huge area where people over do it. There’s been so many times when I’m not even feeling it but I’ll still order out.. just because.
It does not take that much to pick up some groceries and eat meals you can cook. There are lots of options and you can def find something you like. They don’t even have to take a long time. You can heat them up in minutes and have a full on meal there. And you will save so much money!
(Plus a lot of times it will end up being way healthier than eating out anyway so you can shrink your spending and your weight)
Here are some options to consider:
- Frozen meals
- Leftovers
2. Cut back on unnecessary expenses
Now this doesn’t mean you have to cut out all the fun out of your life. In fact, this will probably help you have more fun because you won’t be broke all the time. But you should really think about the wasteful things that you spend money on every day and CUT THOSE OUT NOW.
If you don’t know what I’m talking about, think about that Hulu subscription that you never use but still pay for every month anyway. That target bond that supposedly gets you cash back but you never even go out. There is something unnecessary draining your bank account that you can definitely cut out.
And don’t think this has to be forever either. Maybe you really love your Netflix and don’t wanna get rid of it. You don’t have to. Just think of this as a temporary pause until your income can support it. Then you can Netflix in peace and still have money for food.
Here’s some ideas for things you can cut:
- Subscription services (Netflix, Spotify, Youtube Premium, etc)
- Gym membership (try working out at home?)
- Food (again try making more meals at home or having leftovers)
3. Quit emotional spending
This was a huge issue for me in the past. Whenever I’d feel sad or going through something really tough, I would turn to food and order something to treat myself. Or maybe I’d buy some new clothes online. Sure it helped in the moment. I would use it to cheer me up and take my mind off things.
But then it would always end up making me feel worse because then I would have two more problems on top of whatever I was upset about. Unhealthy heating and a depressed bank account.
In other words, you should definitely stop this as soon as you can. If you’re really down, instead of eating a pizza, try going for a run. Or better yet, turn on some music and drown away your thoughts. Pick up your textbook and get some work done. DO NOT dig into your pantry and create more problem for yourself. I promise if you stop this habit alone, you will start saving way more money.
4. Start walking more places
These days people have tendency to Uber everywhere or drive themselves places. Don’t get me wrong, this can be good and convenient when necessary. But how many people do you know who literally call an Uber to go to the Starbucks a couple blocks down?
It’s so wasteful. Not just because you’re throwing your money into a fire pit for no reason. But also because you’re wasting your time. Think about how long it takes to wait for the Uber, get inside, sit through traffic, get to your destination, pay, etc.
Meanwhile, if you just used your legs and walked, you would be there in 5 minutes. Walking is so fun and once you start, you will realize how underrated it is. You will no longer be spending dozens a month on gas or rideshare fees. And you’ll be a lot healthier 🙂 Win win.
5. Rent your textbooks (or get the ebooks)
I mean, we all know how expensive textbooks in college can be. Typically they range from around 50 to as high as 200 dollars. That is way too much money to spend on something that we’ll likely only read (maybe) for one semester and then discard like trash.
Instead of wasting your money like that, why not instead RENT your textbooks for a fraction of the price. Sites like Amazon where you typically buy all your stuff have rent programs where, for a reduced cost, you can borrow the book for the semester and then return it after.
Even if you don’t wanna rent (which i understand considering sometimes used books are dirty and gross), you can usually get the ebook version on Kindle for cheap. This will allow you to access the book from any of your devices (so you’ll never have the angry professor getting mad at you for not having the book AND you won’t have to carry around that heavy extra weight all around campus).
6. Make sure you have money to pay for something 3X over before buying
One of the biggest problems people run into when it comes to overspending is thinking they can afford something when really they can’t. There have been so many times when I’ll see an outfit or something I want and try to convince myself that “oh sure it’s 200 dollars but I really want this.” Or “it’s on sale now, I don’t wanna wait until it’s out of stock”. Whatever the excuse, they are still excuses. If we pay for that stuff on impulse, we are only setting ourself up for failure.
A good rule to remember to make sure you can afford something is only buy something that you can pay for right now 3x over. And I don’t mean using money you have in savings. Spending money. If you can pay for the item 3x over. Usually, that is not the case and I will know right there that I’m not supposed to buy it.
7. Use an automatic savings service
Many people don’t even know this but most banking apps have a feature where it will automatically take a portion of your account balance every month and save it for you. A lot of times the biggest struggle with saving is remembering to save. This takes care of that really easy.
You can even specify exactly how much you want to save. Maybe it’s only a little to save up for a handbag you want or maybe something targeted to pay off your debt at a certain date. Whatever it is, setting it up automatically will definitely make your life easier.
8. Only buy clothes on sale
This is something I started doing a few years ago and it has really payed off. Buying things on sale means you don’t have to feel guilty spending tons of money on clothes. I can’t even tell you how many times I’ve bought something full price and then like a week later, it’s half off. What changed about that item in 7 days? Absolutely nothing but my bank account is now like 50 dollars smaller.
Now that I only buy things on sale, I never have to worry about that. Also, buying things on sale means you get to buy more clothes and also save way more money. Yes, sometimes you might fee like you’re missing out if you see something cute you like but its not sale on yet. But trust me, you will feel so much better if you wait and THEN get it. Cause you’ll have it and you won’t be broke lol.
9. Drink more water
I feel like a lot of people drink lot of sodas, coffee, and energy drinks, etc. And while they may taste good in the moment, they also add up fast and become really expensive. Instead of wasting your money away on a Diet Coke that will still make you fat, why not get some FREE water from the water fountain.
They have water fountains all over campus so you really have no excuse. Plus if you’ve ever taken a drink of water after running somewhere (maybe to class), you will realize how good water tastes. (It’s so good!) Your body will love you AND your bank account.
And no one is saying you can never have a sugar drink. But everything in moderation right? You should definitely try to drink way more water. Not only will this help you save money but your skin will clear up and you will feel so much better!
10. Take advantage of college discounts
If you have not been using these, trust me you are missing out. Guys there are so many online programs and coupons specifically for college students that will let you save dozens on school supplies, clothes, laptops, and more!
Honestly, I didn’t even know about this til junior year and it makes me so annoyed cause I bought so many things full price when I could’ve gotten a discount. And when you’re already spending so much per year just for tuition, you should def save money wherever you can.
You can use aggregate websites that give coupon codes for a ton of stores. Or check a specific company and see if they have a student discount section.
Here’s a short list of discount services:
11. Stop impulse buying
This is another issue that we all seem to have from time to time. Basically, we’ll get in these moods where we just want to buy something. It doesn’t matter what it is. But we’ll see something for 2 seconds, get excited about it, and then think we need to buy it right at that moment.
This is stupid. Not only will these lead to getting a bunch of junk that we don’t even want. But it’s also so avoidable. It’s called impulse buying for a reason. Impulse buying is impulsive behavior. AKA bad. AKA reckless.
Something you should always consider to avoid this kind of impulse buying is WANT vs NEED. A lot of times when we really want something in the moment, we convince ourselves it’s a need when really it’s just a want. (I know I do this all the time thinking I NEED some jeans lol).
Make sure you know what category something is in before you buy it. If something is a want, wait at least 3 days and then see if you really want it. (Chances are you may realize that pair of jeans aren’t so cute after all and save yourself $50.) If something is a need, you can go ahead and get it.
12. Use student resources
A lot of us think we need to buy everything and have our own of everything. Meanwhile you can usually find all of these things for FREE already offered by your school. You can get plastic forks from your dining hall on the way out. You can print out papers at the library and never have to pay for paper/ink. And so on.
There’s obviously so many more examples but you just need to look. It makes no sense to essentially pay for double of these things (since you’re already paying for it through tuition) for no reason. This even includes textbooks sometimes that you can rent from your campus library.
13. Stop using a credit card for things you can’t afford
Part of saving money is staying out of debt. This goes well beyond college too. You shouldn’t use a credit card to buy things you can’t afford. That’s why I think it’s best to stick with a debit card for major purchases. And use a credit card for small bills that you know you’ll pay off every month.
You shouldn’t just get rid of your credit card altogether though because building good credit is just as important as avoiding bad credit. Maybe use your credit card to pay off your monthly Spotify subscription. Or Netflix. Basically just something small that you can pay off every month and show that you’re responsible enough w/ your money to pay it.
14. Apply for financial aid or more scholarships
There is no getting around this. College is expensive and for those of you not having your tuition payed for by your parents, taking financial aid will definitely ease the burden.
A lot of people don’t realize that you can keep applying for various scholarships even once you’re in college. It doesn’t just stop after high school. I know so many people who went into college having to pay full cost then got good grades and had the rest of their degree totally payed off.
Also some internships will even pay for your tuition for you. So it’s definitely important to look into this as well! My brother got a summer internship that is now giving him a full scholarships so trust me it works.
15. Hide your money
I know this sounds crazy but for some of you out there, its gonna take this level of commitment. I’ve def gone through periods where the only way for me to not accidentally spend it is to forget it even exists.
Basically what I mean is you wanna put it some place that you’ll easy forget about it and forget that you even have it. Think of that saying “Out of sight, out of mind”. You can put your money under your bed, give it to your roommate, leave it at your parents house in a special place. Get creative. The goal is to make it disappear.
Of course, this strategy can be applied to a lot of things like a drug problem or overeating. Just hide the cigarette or that cake you’ve been craving. And I’m not saying you’re an addict lol but sometimes drastic times call for drastic measures. If nothing else works, try this lol!