Authored by Rodney Southern in Personal Finance
Published on 11-19-2008
During college, money becomes the primary problem for students trying to stay ahead of the game. Trying to work and go to school at the same time is a daunting task for some college students. Ultimately, saving money becomes very important to any student that goes to college as the rising costs of tuition, books, and other things seem to pile up. Here are some money saving tips that can help ease the burden on you during your college years.
Every college student should set up a budget so that they will know exactly how much money they will need in a given month. It is impossible to spend properly without knowing this, and therefore it makes it even more impossible to save. Setting up a budget will help you to save money by making you more aware of what there is to actually spend.
As distasteful as it may seem to some college students, getting a part time job can be a huge difference maker. Try to not over schedule yourself, however, as this will just end up defeating the purpose of the job. Set up a job where you only work on weekends, and consider this money to be your only social money. Whatever you earn on weekends can be used for your expendable income.
Hit that local used bookstore when it comes to buying text books. It is absolutely insane to pay the new book price when you do not have to. Virtually every text book out there can be found for a third of the price of new at a used book store. The only headache here is the occasional notes in the margins and the highlighted material. This is a small headache when you look at the savings.
Rather than go out and party with your buddies at the club, have a cookout instead. This is a much cheaper and safer alternative for you while you are in college. Spend some time hanging out with your friends, and grill some hot dogs. You will spend much less than you would at the club. Also, you need not worry about a designated driver because you will already be home.
Share your resources with your friends. This is a very helpful way to save money in college and it can stretch your dollars quite effectively. Gather a group of friends that are willing to team up in college with you. Every one make a pact to help each other out when needed, and to share resources. This is only effective with a group of responsible, mature individuals. If you have doubts about this among your current group, do not bother. If not, though, this is the single best way to save money while in college.
While far from being all inclusive, this list will help to get you started on saving money in college. If you pay attention to what has to be paid out, then it is much easier to figure out how much you can spend. Many college students forget that obvious detail, and that is what gets them into trouble with money.