Money Saving Tricks for College Students

Do you have fine wine taste on a cheap Natty Ice budget? Most college students do, since they are living on a budget. If not, more than likely they are getting themselves into a cycle of debt. Neither situation is fun or easy, but you can become smarter about the way you spend your money.

Keep in mind the key to financial success is being aware of how you’re spending. Know the difference between being cheap and savvy spending. Living in your means is key.

Stretch your dollar further with these money-saving tips.

Know Wants From Needs

Everyone has wants and needs in life and they are often easy to differentiate. Sometimes our wants become so overwhelming we trick ourselves into feeling it’s a need. Ask yourself whether items are necessary before making a purchase.

Create a Budget

Work on creating a realistic budget you can stick to and incorporate rent, school supplies, gas and any other regular bills or payments.

Buy Textbooks After You’ve Attended Class

It’s important to go to class before buying textbooks. Professors will often let you know which books are necessary and which aren’t — from there, make an educated decision on which books to purchase. Purchase only used textbooks because they always cheaper and shop around to find the best prices.

Find Alternative Methods of Transportation

If it’s not necessary to have a car at school, find alternate methods of transportation. Use the city or university bus, get a bike, walk to class if you’re close or even carpool with friends. You’ll save money on car maintenance, gas, insurance, parking passes and tickets.

Milk Your Student Status

Many places will give you a discount simply for being a student. Look for places that offer savings when showing your student ID

Consider Becoming a Resident Advisor

Many RAs get free room and board, which will save you a lot of money in the end.