Ideal Ways to Save Money While Studying in College

Though money can’t buy few vital things like true love, respect, and life, yet it is the essential element for survival. Without money, we can’t fill our empty belly, wear clothes and get shelter.

College students are very young who just stepped into the romanticism of adulthood that is filled with thrills, excitements, adventures, and dreams.

The weekend parties, beer boozes, newly adopted smoking for style quotient, impressing opposite genders by buying them gifts, foods, dressing in branded clothes to look chic, long bike rides, etc. may seem very magical to you, but, to fulfill these desires, you need a lot of money.

• You need to remember that saving is the key to the financial success.

It doesn’t mean that you need to become the ultimate money saver who has to leave every entertainment of life aside and live a dull and boring life with super simple basic needs.

• Make a budget

Chalk down all your requirements for the whole months like average canteen bills, hostel fees, dress, books, soaps, toothpaste, traveling fares, etc. Do it at the initiation of the month. Then, spend accordingly. See, if you can cut down something like buying a new dress or eating in a posh restaurant.

• Wants v/s needs

You are matured enough to know what you need and what you want. Buying branded clothes are not your need or priority. You will look exclusively good in local shop clothes also. Boozing every Saturday night can be your bad habit. Smoking a cigarette can make you a hero among the peer group, but tobacco can’t be anyone’s need for survival. Invest in what you need like good books, foreign language class, healthy food, sports, specialized computer courses, etc.

• Pay the college fees on time

Do it for avoiding a late fine that is a useless extra wastage.

• Share your rented apartment

If two or three people share the same apartment, the rent will automatically be divided among the tenants sparing you to pay the whole amount.

• Limit your parties

Occasional partying is okay. But, if it becomes your daily routine, it is harmful both for your health and pocket.

• Visit the library often

Instead of buying all the reference books from the market, take help of college library. Don’t waste money on buying extra books from outside.

• Avail the student discount

Many places offer students concession on various items. Look out for those things and only buy them if it’s necessary for you.

• Limit movie theatre visits

College students are usually movie lovers. Expensive halls offer comfortable sitting arrangements with high priced food. But, it’s not compulsory to catch every movie releasing in theatres. You will end up in zero balance. If you wish, go once in a while, or, watch from home TV and internet.

• Credit card

Pay your credit card scores as soon as possible.

• Is your college too far from your home or living area?

If it is so, use public transports like bus, metro, train, share a cab, etc. Make monthly passes. If you have an eco-friendly cycle, ride that. Car riding is expensive. If the campus is nearby, walk.

• Limit the phone call

Chatting over mobile with your friends for hours will only raise the bill and harm your health. If you need important conversation, get the monthly packages for texting and calling.

• Wise traveling

Most of the people love to visit various places during the weekends and holidays. But, when you are still a college student, going for foreign tours or high tourist zones can be your pocket burner. Many places are equally beautiful and less costly, visit those areas.

• Part-time job

Many organizations offer the contractual position or work from home facility to the college goers. If you find enough spare time apart from your study, do freelancing job. You will earn your own expense, and it will add credits to your resume.

• Give tuitions to little children

Today’s parents are busy for earning enough to cater the family needs and child’s future. They don’t have time to look for their kid’s education. You can be his/her private tutor that will serve two purposes at a time- A noble job plus some wise earning.

• Babysit

Are you friendly with toddlers? Why don’t you babysit? After college, you can take care of a child and study in his/her home.

• Sell the workable things that you don’t use anymore

Old clothes, furniture, books- whatever is in good condition but you don’t use anymore, sell them. Others can use them, and you will get some money.

• Stop giving loans

Many people are in the habit of asking for money from friends and never returns. Stay away from those fellows. They will never change, but you will lose your money.

• Bank account

Open a savings account that provides interest. Credit unions are great for college students.

• Share the meal expenditure

College canteens and food zones offer big bucket meal that is hard for a single person to consume. Two to three students can buy one meal and share the food and the prize. Don’t waste food.

If you think in a broader aspect, you will see that these activities will make your future.