The "broke college student” category is definitely one most of us fall into. College is expensive. We are still learning how to allocate our spending to make sure that we have enough money for essentials like food and some spending money for fun. Finding a part-time job that fits with our academic schedules can be tough. However, even those with jobs might be living paycheck to paycheck. To make the most of what I have, I am always trying to find new money saving tips. One of the most important things to remember is to track what you spend so that you are aware of when and where you’re spending. Set yourself a budget and stick to it.
Consider these tips to help you be smart and save more money each semester:
1. Search for the best textbook deals.
One of the first 'college lessons' you learn is how expensive textbooks are. Take the time to look for the best deal for your books. Going to the bookstore on campus may seem like the easiest option but it's definitely not the cheapest. Also, don't be afraid to rent or purchase used books.
2. Take advantage of the six-month free Amazon Prime membership.
Amazon offers a free six-month trial for college students. This trial includes free two-day shipping on eligible purchases, unlimited streaming of thousands of movies and TV shows, access to unlimited photo storage, and student-exclusive deals and discounts. After your six-month trial ends, your Prime Student membership makes you eligible to receive 50% off of Amazon Prime expenses.
3. Buy generic brands.
Most stores have their own generic brand food and products that are significantly cheaper than the leading brands. Advil is something most college students use so let's use that as an example: 100-count Walmart brand Equate Ibuprofen is $2.48 while 100-count Advil is $7.97. That is almost a $6 difference! Next time you're at the store make sure to look at store brand and see how much money you can save by switching to a generic brand.
4. Make coffee at home.
Spending $5 on your Starbucks coffee every morning can add up very quickly! Instead, use the money to invest in a Keurig (if you don't already own one), purchase some travel mugs and make your coffee at home. Not only will this help you save money but it will also help you stick to a diet since you are able to control the amount of sugar and creamer in the coffee.
5. Pack lunch.
This goes hand-in-hand with making your own coffee. It is cheaper to make food at home and pack it for lunch than to eat out. This will also, hopefully, help you to make healthier choices and to be more aware of what you are eating.
6. Use cash.
Every month, take out however much money you've budgeted for that month. Use this cash for all your purchases. When you go to the grocery store and you only have $30 on the budget, only bring $30. That way you won't go over your spending limit.
7. Put away every $5.
Every time you receive a $5 bill, put it in a safe place. By the end of the year, you'll be surprised how much money you saved. It can amount to thousands!
8. Save change.
Saving change is also a great way to save money! Most people think, "Oh, it's only $0.52 so it's not worth saving." But all of that change will add up quickly. Designate a jar to collect your coins and, every time the jar is full, cash it in. Depending on the size of the jar you could save anywhere from $50-$150!
9. Take advantage of student discounts.
Many stores have student discounts that are not publicly advertised. Before checking out, be sure to show the cashier your student I.D. and ask if they have a student discount.
10. Use coupons.
Coupons lead to discounts which lead to more money being in your wallet. Need I say more?
11. Unsubscribe from mailing lists to prevent future purchases.
One of my biggest faults when it comes to spending money is online shopping. When I receive an email about a 30% off sale and I usually end up spending $30 on something that I don't necessarily need. To prevent myself from this, I have unsubscribed from mailing lists so I won't purchase unnecessary items.
12. Order water instead of soda.
Once again, not only is this good for your wallet but it's also good for your health.
13. Sell old clothes.
Take your clothes to a local consignment shop, like Plato's Closet. They will exchange your clothes and accessories for cash and resell them at a higher price. This is a great way to clear your closet of old clothes and to keep more money in your wallet.
14. Use Ebates for online shopping.
Ebates pays members cash back for every time they shop online, as well as provide them with the best coupons and deals online. So if you are an online shopper, this is the place for you!
15. Take advantage of free school events.
Finally, as a college student, taking advantage of free school events is a great way to spend time with friends or even make new friends. Colleges are constantly creating fun activities for their students. There's no need to go to the movies. Instead, check out what movies are available at your school's hub.
