It is quite stressful for students to handle the issues of money and college education at the same time. After all, most of the time, college students are short on money to spend. Parents need to educate their children on how they can budget and use the little funds allocated to them well. It is also important that a college student knows how they can make savings for a rainy day. As a college student, you will more often be broke and this is a fact that you may not be able to avoid. However, there are a number of tips from Downing Students that you can follow and live comfortably with the little resources that you may have while in college.
To learn how to be financially independent while in college, here are 5 tips that can help you to save money.
- Make a budget and stick to it
You need to learn how to budget for the semester. You can work out a suitable budget with your parents so that you are all aware of your costs. You need to know about needs and wants and give more of your cash allocation to your needs as a student. You should not forget your travel expenses between your home and your school. Try to learn how to save money on some items such as entertainment. Must you go out for a movie? Probably it could be cheaper to buy the movies from the film shops around and save the extra money you could have spent at the movie theaters.
- Make coffee at home and pack your own lunch
More often, foods and drinks sold at campus are way more expensive when compared to making these at home. With packed lunch, you will be healthier and you will save lots of money in the process. When you prepare your own lunch and coffee at home, you will not have to buy this elsewhere. You need not spend $2 on coffee at campus while you could make the same at home for 25 cents. Make your own meals and carry these to campus. You will not believe how much you can save in a year from this routine.
- Buy used but useful school items
There are many places you can buy used books and other classroom materials that are required on campus. Do not be ashamed of buying used items if they can help you save some money, and serve the same purpose as the new items. You can virtually get all your school supplies off campus. You could as well rent your classroom materials such as books and other necessities. If you must purchase any item that you require in school, it would be good to compare prices from the many stores and buy from the cheapest sellers. Take advantage of coupon stores as they help you save a great deal.
- Work during summers and vacations
When you are on a school vacation, take advantage of the free time and get some work. You could actually do some part-time jobs even when you are still in college. This means that you will make some extra money that could bridge the financial deficits that you face. However, you need not take jobs that can distract you from your educational activities. When you work during the summer, you can be sure that you will have enough financial strength to help you concentrate more during the school year.
- Walk to school or use a bike
Another great way to make a savings while in college is to use a bike or walk to school. You could save a great deal of money when you walk to college as opposed to driving or taking the public transport. Walking or cycling to campus is actually a healthier way to reach school. You could even save on medical costs in the process!