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Four Ways College Students Can Be Smart With Money

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Four Ways College Students Can Be Smart With Money


college students studying

It’s almost time for colleges and universities to begin classes again!  If you are a college student, you probably have a limited budget as you study for your future profession.  Money can be tight, so that it why it is extremely important that you learn the basics of personal finance so you can be money savvy while you are on your own.  Here are a few ways you can be smart with money while you are studying in school.

Buy It Used

Most people like to buy everything they own new, but there are many things that are just as good when you buy them used.  For college students, a big example of this is textbooks. Instead of buying all of your textbooks new, try to buy them used.  Most of the time, they look like you bought them new anyway for half the price. When you are done at the end of the semester, sell them back to make a little money.

Other items that can be great when bought used are clothing and items for your dorm room/apartment.  Thrift stores have come back “on trend” recently with people finding some really unique and fun items to outfit themselves and their homes.  It can also be fun and somewhat like a treasure hunt to go to different thrift stores to look for items.

Find Cheap Entertainment

We all know that college isn’t all books and studying.  You have to have fun too! If you are tight on a budget, find ways to spend less on entertainment.  Many cities have free community events you can partake in like movies in the park, free concerts and other events.  If staying in is more your speed, instead of buying cable, keep it simple with an antenna and a good cheap streaming service like Netflix or Hulu.  For music, use the free versions of Pandora or Spotify, or check out their reduced student rates for their premium versions. Also, don’t forget about the campus amenities your school might offer.  From the library to the fitness center, you are sure to find something to entertain you.

Save Money on Food

Food can get expensive, so if you are looking to save money it is best to set a grocery budget and stick to it.  To get the most out of your budget, shop the sale papers from your local grocery store, and stick to the discounted items.  If you have a meal plan at your school, take full advantage of what you are paying for and use it. Eating out at restaurants can get expensive pretty fast, so it’s best to limit it to special occasions.  

Easy Transportation

If you live on campus at your school, consider walking or riding a bike to get to where you need to go so you can save money on gas and car usage.  If you live in a city, check the prices of a public transportation pass to see if it would be cheaper than owning or operating a car. If you do have a car, try carpooling with a friend to split the costs of transportation.

As you can see, there are simple ways to reduce costs in your everyday life, especially if you attend a college.  Great personal finance habits start while you are young, so be sure to practice them before you get out into the real world.  Future you will be grateful.

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