Top 10 ways for College Students to Save Money
April 23, 2008 – 6:37 am by Nick
We have compiled a helpful list of money saving tips for college students.
1)Student Banking: Banks offer college students free savings and checking accounts. Take advantage of this opportunity to avoid fees and getting acquainted with online banking. You can easily pay your bills online (credit card, cell phone bills,…), avoiding any penalties and hits to your credit score.
2)Stay away from ATMs! They slam you with unnecessary fees.
3)Choose a proper Cell Phone plan: Take your last six cell phone bills and analyze your usage pattern. Try to find the cheapest plan that conforms to your usage pattern. Try to choose a provider with the best coverage in your area (Verizon and T-Mobile usually take top honors in customer satisfaction). Try to take advantage of exclusive cell phone contracts available to your student body. If you are an avid text messenger, choose the best plan or try to communicate to your friends through Facebook. Cutting back on text-messaging will save you few a lot.
4)Budget: Save all your bills ands receipts for one month. Sum it all up and you will be shocked at the number. Conceive a budget that trims all the sporadic spending. Google Spreadsheets are perfect to keep track of your budget and expenses. If a you have credit card debt, all disposable funds should go to the credit card debt because it can fluctuate quickly.
5)Buy and Sell Used Textbooks: and.Stay away from your College Bookstore. Used bookstores, BookFinder.com and your college Facebook group are great places to find cheap textbooks.
6)Alternatives to Driving: Public transportation, carpooling, walk or biking will save you a significant amount of money, considering the current prices for gas. Some schools offer transportation around campus for students. You will also get exercise and lower your carbon footprint.
7)Eating healthy: Fast food and vending machines will take a toll on your health and wallet. Many student associations offer coupon booklets several restaurants (stay away from the fast food chains). Prepare a grocery list for the week and stick to it. You can also plan healthy lunch/dinners with roommates.
9)Apply for all the scholarship programs and aid programs.
10)Frugal Apartment living: If you opt to live in an apartment, find roommates to help with the rent. If the apartment is not fully furnished, bring old appliances from home. Long showers will translate in hefty utility bills. So conserving electricity and water will help save you money.
(The picture at the top of the article is of Massachusetts Institute of Technology’s Great Dome)
