College is expensive, and it’s getting more expensive by the day. Between tuition fees and living expenses, many students experience financial stress that can affect their academic performance. You’re going to be spending at least a few years in college, so it makes sense to adopt a financial strategy now to avoid graduating with more debt than absolutely necessary.
In order to make the most of your college years and minimize the financial damage, consider saving money from the start. Try to stick to your budget and cut costs wherever possible.
Read on for some tips for saving money while you’re in college.
Do Carry Your Student ID for Discounts
Your student ID card is your key to getting discounts and special deals at various retailers, stores, and restaurants. You can even use your student ID to get discounts on laptops, software, and clothing. Plus, it lets you get discounted admission to campus events and sporting events.
There are two types of standard discounts students must be aware of. The first is promotional discounts. Many stores or organizations offer this type of discount to celebrate a special occasion, often connected to launching a new product.
The other type is the privilege discount. These discounts are for free admission, samples, reduced fees, and more.
Take advantage of both to maximize your savings while you’re a student.
Don’t Buy New Textbooks
Textbooks are expensive. This is true no matter where you go to college. But did you know that you can buy used textbooks at a much lower price? Also, you can rent books on platforms like Amazon and Chegg. There are also many online platforms where people buy and sell used textbooks. You can even buy or rent books from fellow students or the college library.
Do Comparison Shopping
One of the best ways to save money while in college is to comparison shop, be it at a brick and mortar store or online. By comparing the prices of a certain item at multiple stores, you can get the best deal and save money. It’s also a good idea to use websites like PriceGrabber to find the best deal on whatever you are looking to buy.
Don’t Dine Out All the Time
Eating out is expensive. The best option is to prepare your meals. This way, you save money and stay on track with your budget.
Being a leading Fleming College residence, Severn Court has a fully equipped kitchen in each apartment where you can cook your favourite foods. Also, our rent is all-inclusive, meaning you don’t have to worry about paying for utilities separately.
Do Use Free Amenities on Campus
Many college campuses have a plethora of complimentary amenities available to students. These could include printing services, study spaces, flu shots, therapies, fitness centres, entry to events, and much more. If you’re new to college, you can ask other students about the free services and amenities available on campus.
Don’t Use Your Credit Card Unnecessarily
Students’ credit cards often offer low-interest rates and special deals for new cardholders. But you should use credit cards with caution.
The interest rates on credit cards can grow over time. Initially, you may be tempted to avail the many offers that come with your credit card. But after a few months, you will have to pay back every penny you ever borrowed on that card together with interest. This can quickly add up.
Do Use Cash Back and Reward Programs
Many stores and companies offer cash back or reward programs for students. This is a great way to get discounts and rebates on purchases while in college, which can help you save money.
Don’t Forget to Have Fun!
Saving money is serious business. You need to put in a lot of effort to make ends meet. But you should never forget to have fun while you’re in college! Saving money doesn’t mean you have to stress yourself out or ignore your basic needs and social life. All it takes is a little bit of discipline to avoid spending too much money on unnecessary stuff.