As college students, money is a very real and looming threat most of us have to deal with. Between paying rent, food, and tuition, it’s no wonder we’re constantly lacking funds. However, you’ll be pleased to know that there are other ways to save and/or find money that don’t involve asking your parents (again) or taking out a loan. Here are ten tips to help you make your money last!
1. Budgeting
Before figuring out ways to help you save some cash, it’s important you know how much you have, how much you’re spending, and where you’re spending it. When you have this information, you’ll be able to see a much clearer distribution on where your money is going and why, this way you’ll know where you’re overspending or underspending.
2. Make your own meals
Let’s face it, most of our money is spent on food, and that can be immensely frustrating for some. Rather than spending seven dollars a meal at a fast food restaurant, spend your money on a considerable grocery shopping spree and cook at home! It’ll give you some time to distract yourself from all the homework you’ve got piling up, and you’ll save some money in the long run.
3. Keep an eye out for campus events
One of the greatest things the campus has to offer is free entertainment. Any number of student organizations will have an event going on at any given point of the semester, and you can take full advantage of it! While some do require some kind of entry fee, it’s usually a lot cheaper than driving to the movies, buying the ticket, buying popcorn… well, you get the gist.
4. Step away from the vices
None of us will ever really admit it, but we all drown our sorrows (particularly those after a huge test) in some way or another. Whether it’s drinking, smoking, or eating a worrisome amount of Oreo cookies, try to control your impulse to give in and learn to do things in moderation. Not only will it save you money, but it will also bring you two steps closer to optimum health. (Bonus points if you can track these in your budget, too!)
5. Borrow
When it comes down to it, there’s a lot of things you don’t really need to buy. That book your professor keeps going on about? Look for a friend that already took the course, or look it up at the library. That laptop you need, but can’t afford? Look for computer centers on campus. That movie you want to watch, but don’t have Netflix? Look for a friend that has the DVD or ask for their account (just make sure to log out afterwards). There’s a lot of things you can borrow if you just set yourself out to look.
6. Buy Second Hand
For those things you can’t borrow (or just want your own), look for places that offer the materials you’re looking for secondhand. Plenty of Seniors (or people that just finished taking that particular course) sell their used items at low prices, and they all work just the same. It’ll save you some cash, and you’ll probably end up re-selling it anyway.
7. Sell what you don’t use
While we’re on the topic of re-selling items, why don’t you sell your own? While this may not be a way to save money, it’ll surely help your earn some quick cash and get through another week. This way, you’ll declutter your apartment, make some money, and save yourself your mother’s rants about your messy room.
8. The Dollar Store
Don’t underestimate the value of the Dollar Store. For the things we’d rather buy new, but don’t want to break the bank, this is usually a great place to find what you’re looking for. It has all the basic essentials you might need when moving in, and plenty of cheap decoration for all those special times in the year. It’s usually worth popping by whenever you’re in dire need of something (you know, instead of going to the pharmacy and paying for overpriced candy).
9. Student Discounts
You have your student ID, and student discounts are everywhere, so stop being shy and start using it. Too many people empathize with the struggle of being a college student and being low on cash, which is why plenty of establishments offer discounts to those who present their student ID. Even when they don’t have a sign hanging around, it’s always worth asking if it’ll save you a couple of bucks! You’re working towards your future, don’t be shy about it now!
10. Get a Summer Job
…or find yourself a paid internship. While plenty of us take a course or two over the summer, some might consider getting a job during that free time. With the money earned during your summer job (or internship), you might be able to afford some luxuries over the next semester, or save up for something big. It’s never too early to start thinking about your future investments.