6 Tips for Saving Money If You’re a College Student

collegestudentCollege is something that is pretty expensive, but you can’t really put a price tag on a formal education. However, the life of a college student isn’t an easy one, because they’re typically in debt and broke a lot of the time, finding it hard to scrape by. That’s why I’m going to give you some tips on how to save money if you’re a college student.

#1. Buy Your Books Used

Okay, so you’re in college and you’re good to need books — expensive books. I would highly suggest that you buy these books used. You will save a ton of money and it’s not like you need a brand-spanking-new version of the book. That’s just silly and a waste of money.

#2. Sell Your Used Books

Once you’re finished with certain books/classes, you can sell your books to bookstores. It’s not like you’ll ever really need them again, anyways.

#3. Take the Bus or Carpool

A lot of people drive their vehicle to their college campus every single day and doing this can cost you a lot of money at the pump. Also, you may have to acquire a parking pass, which will cost money or you could end up acquiring parking tickets. If you live near the campus, you should just consider walking or riding a bike. If you have friends that go to college and they have a similar class schedule, you could consider carpooling with them.

#4. Take Advantage of Student Discounts

A lot of places out there will offer student discounts or perks for students. I always suggest that you ask about student discounts wherever you go. Just make sure you have your student I.D. with you, so you have proof that you actually are a student, because places will certainly want to see that.

#5. Get a Student Checking or Savings Account

If you’re a student, you should definitely set up a student checking or savings account. It’s free and you will also end up saving some significant money over time. Student checking and saving accounts are exempt from certain fees. I would also highly suggest that you choose a bank that has online banking. That way, you can monitor your account and keep track of your activity. An overdraft is something that happens often with college students and you don’t want it happening to you, because you won’t be exempt from those fees.

#6. See Where Your Money is Being Spent

Being an organized individual is a must if you’re a college student. It’s important that you keep track of all your finances, bank statements, receipts, etc… Keep them organized nicely in a folder. This way, if you ever need to return anything, you have the receipt for it, but you’ll also be able to go over your spending habits at the end of every single month to see where your money is going. That way, you’ll notice areas where you can cut back and save more money. You will be amazed at how much of your money can be saved, because you’ve cut out unnecessary spending.