What Are Some Creative Ways That College Students Can Do To Save Money?

Discussion in Savings & Investments Plans started by Takeshi Fujimoto • Jul 1, 2015.

  1. Takeshi Fujimoto

    Takeshi FujimotoNew Member

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    Hi! I'm currently on my 3rd year of college, and like many other college students, saving money can become quite a pain in the neck. With school fees, rent, utilities, it's rare for me to ever have enough money to spend on myself. (Haven't enjoyed a movie in the cinemas for months now :() Anyway, for those of you who have already survived college, or for those who are currently going through the struggle, any tips that would help me save some money? Let's keep it to general tips, no need to get too much into detail ;)
     
  2. xTinx

    xTinxWell-Known Member

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    I can only think of part-time jobs. I mean, compared to a high school student, a college student can choose a schedule that's convenient to him. If done right, you can even have a free time of 5 to 6 hours or just get into class for half of the day. You can use the rest of your time by taking in a stable part-time job that will help you pay your tuition fee on your own (if your family is strapped for cash). This could be an online or offline job. As long as it pays you, then it doesn't matter what type of job it is.
     
  3. Theo

    TheoWell-Known Member

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    Here is the news, it's not only college but when you leave college that saving will be hard so enjoy the student status while you can. Lots of places offer student discounts so ask for a discount if there is no sign. I mean lots of theaters have student discounts during the daytime and that's when you go.

    Sign up for a student discount card (ISIC) and you get discounts for online companies as well as travel companies. Being a student is one the easiest ways to save money. As for entertainment, many student unions hold free parties or very low cost subsidized events.
     
  4. Onionman

    OnionmanActive Member

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    I think you're on the right path by looking at this site! There are thousands of way to save money (obviously) but what I think would be useful is to simply organize yourself and strategize. I would put together a spreadsheet that breaks down each area of your life and see what you can actively do to better manage it financially.

    Even if you start by splitting your spending into fixed costs (e.g. rent), variable costs (e.g. utilities) and discretionary (e.g. "fun") you can get a better sense of where you spend your money at the moment and attack the areas of expenditure accordingly. I'd just keep on picking up tips from sites like this and then record them so you can apply them as and when.
     
  5. prose

    proseActive Member

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    Great job being proactive and trying to save money now. My husband and I worked our way through college, each having multiple part-time jobs. We have no regrets, because as a result we have no student loans, unlike our unfortunate friends who graduated with us. If you can squeeze in part-time work into your schedule, especially work on campus through a work study program, I highly recommend it. Also, apply for every scholarship that you can, even if you don't think you will get it. You would be surprised at how few people apply for scholarships and financial aid. Applying for scholarships and financial aid was key to our success graduating debt-free.

    The easiest way to cut expenses is by looking for free or inexpensive things to do for fun. Have friends over to play games, look for free events on campus to go do and hang out at, work out for free at the campus rec center, head to the local library to check out free entertainment such as movies, music, books, and sometimes even video games. Another area to cut expenses is on food. Try not to go out to eat. Buy your own groceries, either with coupons or at an inexpensive grocery store such as Aldi. Look for apps for your local grocery stores that can be easily downloaded onto your smartphone for easy savings on groceries. If you really want to start saving, start keeping track of all of your expenses, such as in a spending diary. We kept track on a white board, everytime we got home we would write down any and all expenses on the whiteboard for the day. It can be really eye-opening to see where your money is going.

    Best wishes and good luck!
     
  6. Corzhens

    CorzhensWell-Known Member

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    When I was in college, it's not easy to cope with the meager allowance I get because life was not that good at the time. I would bring my own sandwich to school so I don't need to buy snack food in the canteen.It's unfortunate that the bottled water was not invented yet so I would be drinking in the canteen's water fountain. I also try to save money in materials like in the drafting subject, I would offer my services to make the drawing of my classmates in exchange for the drawing paper.
     
  7. thenextGeek

    thenextGeekActive Member

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    Soak up as much experience that you possibly can, and use it to develop the skills that you need to become a great entrepreneur. The best time to practice the basic principles of business is in college where you are dropped into unfamiliar territory. This either makes you or breaks you.

    Take part-time jobs or find a mentor and work for him. This enables you to learn how successful people work and you can apply the things you learned in yourself. Open a bar, sell products, work online, etc. There are lots of ways to earn in college. You just have to let your imagination run wild.
     
  8. DrRipley

    DrRipleyExpert

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    What I find helpful while I was at university was to find the best places to eat for cheap. Once I've established a couple of restaurants or grocery items I can use then I started to spend a lot less on food which saved me a lot of money for other important or fun things. Also, I think it's good to find online programs where you could get some extra cash since those are now available and should be taken advantage of, especially by college students who could have good use for a good amount of extra pocket change.