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7 Tips to Save Money in College

Money. What even is money? To almost everyone in today’s world, it is a means of obtaining things necessary for life. I know, I know, it stinks that everything costs money and that everything is becoming more and more expensive! As a college student, you definitely get to know the value of a dollar rather than taking it for granted like you did when you were a kid. When I actually think about it, it can feel really annoying that money is so important, but hey, we need it. 

Learning to save and spend your money wisely is important for everyone, especially college students. College is the time where many of us learn to live and survive independently. You can get a job to earn some extra cash, but you still have to learn to save and spend it.

Here are seven tips to save money in college:

1. Walk EVERYWHERE.

Try to walk everywhere you can, especially if it less than 2 miles. Not only will you be getting some exercise, but you will also be saving money. Why? BECAUSE IT’S FREE! Uber, Lyft, paying for gas, or taking public transportation (which is the cheaper option) definitely adds up if you are using it on a daily basis. So if you can and weather permits, walk!

2. Love those student discounts.

A perk of being a student is that you can indulge in the MANY discounts that come with it. There are discounts EVERYWHERE, sometimes it’s even free! Who knows, your favorite store may be able to give you a friendly student discount if you ask. Museums, movie theaters, retail stores, etc. Student discounts are everywhere, so next time before you purchase something, ask, “Do you have a student discount?”

3. Take advantage of student life.

Another perk of being a student is the many amenities and freebies that accompany it. Think about it, you can go to the campus gym FOR FREE, you can study anywhere on campus FOR FREE, and many clubs and organization pass goodies out FOR FREE. Advantages of being a student are everywhere! So love your student life and everything it offers!

4. Actually use your kitchen or eat at the dining hall.

If you live on campus, eat at the dining hall! I know dining hall food isn’t spectacular, but since it’s part of your housing plan… you might as well use it! If you live off-campus, actually learn how to cook and use your kitchen. Eating out ADDS UP. I know this because I love eating out, but I definitely see how costly it gets. Eating in the dining hall or utilizing your kitchen are easy ways you can save some cash!

5. Limit yourself to one splurge every two weeks.

Shopping. I love it. I like buying new things. I totally understand. However, if you want to splurge on something, I suggest you do it every couple of weeks. That way you can save up and access if the purchase is REALLY necessary.

6. Stay in?

You don’t have to go out every weekend, but if you do… more power to you! Going out adds us because you are paying for all the things that go with it. Transportation to the venue, drinks, food, transportation back home. Think about it, these small charges add up. Also, staying home sometimes can be just as fun.

7. Keep track of your spending.

Being mindful of your spending is CRUCIAL if you want to save some money. It makes you aware of your spending habits. Moreover, it makes you aware if you can actually afford something. Keeping track of your spending gives you the knowledge of the money you have and where and when you spend it. It helps you prioritize certain items. You should know how your purchases affect your bank account!

As a college student, learning to be smart with money is crucial. Most students do not have high-income jobs that allow them to indulge in luxuries all the time. College is the time where we really start to learn how to manage our money. So start saving now!

 

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Mikaela is a sophomore in Boston University's College of Communication. Her major is advertising and has an focus in Spanish. Mikaela likes avocado toast, hot chocolate more than coffee, and dogs. Her passions include fashion, watching movies, and eating yummy food. 
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