Tips to Save Money on College Costs
Everyone while in school always wants to save money, sometimes it looks very impossible that lots of students get discouraged on first attempt owing to the huge bills they’re required to pay while in school. Thou most students are often wondering and asking questions which prompted us to write this article,
How Much Money Should you Save During College?
This is dependent on the student but we will be working with statistics, an average students spends close to $2000 a year and $200 a month. Thou factors like transportation, feeding and textbooks influence spending habits of students but once you can follow the tips to save money on college costs you will be able to save up to $1000 , according to survey 1 out of 3 college students save it.
Ability to save as a college student requires discipline on the part of the students, this is the reason why many students go for students bonus in grocery stores parks to help them save a lot. It’s advisable to reduce your students loan options.
How Can I Save my Pocket Money in College?
Students life is not easy, and it requires a lot of personal discipline as regards expenses, they’re several ways to save money while in college, some of them are listed below to help you run out of debts that will end up accumulating all your life time, many persons spend all their lives paying students debts.
- Borrow textbooks from library, Amazon’s or fellow students instead of buying
- Don’t leave home without your students ID card
- Don’t own a car
- Don’t be careless with your credit cards
- Visit your local banks and ask for students saving options
- Limit your meals out
What are the Tips to Manage Money?
- Track your spending to improve expenses
It will be nice you get a book and have a monthly budget, or you can get a money app like money track etc, this will help you manage your finances and see what takes majority of your money.
- Create a realistic monthly budget
Many students try to create a budget which is outside their lifestyle, budget is a way of creating a better habit and improving your saving skills. This will help you start cooking at home.
- Build up your saving even if it takes time
It’s advisable you create an emergency fund even when it takes time, this will help you especially when you’re out of option but to borrow and still payback at high interest.
- Pay your bills on time and cut down recurring expenses
Many students are fail to bills on time and this attracts extra expenses, like charged, in order to eliminate this try paying earlier, then check your expenses list for recurring expenses.
The Tips to Saving Money on College Costs Include the following
Apply for scholarship and Grant’s
Many students wants to know the tips to save money on college costs but forget this aspect, that scholarship is the easiest way, thou this requires you to start applying early and to apply to as many as possible. Apply for scholarship like need based scholarship. You could also use scholarship site like to search for your scholarship.
Reduce your expenses on textbooks
This entails you to always use the library regular and to sell off your textbooks the next academic session, this will help you to use the money to solve other needs of you. Make sure you do your printing jobs on campus.
Reduce your expenses on foods and drink
It is advisable for one too cook his or her meals, tis will save you a lot of spending, also attend events with foods, and to keep track of restaurant promo’s, if possible do your best to cut down your expenses on alcohol.
Take up college work
Taking up a side hustle as a student will be the first step towards getting a better result on saving as a student, this will help you get some stipends to spend while in school and will take care of your expenses.
Use campus gym
Many universities offer her students access to her gym free and affordable, fitness is a key while in college but it is nice if you utilize those within the college premises. Since your tuition fee covers it.
Reduce your expenses on accommodation
Many students wants to live in exotic places but as a student, it will nice if you live in the college hostels or you live close to the university to save expenses on transport. It also advisable to live with roommates. Making your room simple will be a nice option.
Cut down your expenses on transport
It is advisable to always go for students free transportation or using your ID card to get students waivers, and living close to campus will help us, it will be advisable to look for alternatives to flying.