College has for a long time been associated with an empty wallet. The stereotypical image of a college student is the ‘broke college student’ image. It’s easy to think this – high tuition fees, cost of living and things such as meal plans and parking can really take a toll on the average college student’s wallet. However, it is possible to save money while attending college, it just takes careful planning and discipline.
Create A College Budget
Creating a college budget is one of the most important things to do while attending college. Creating a college budget allows you to spend a set amount of money without worrying about over spending. By creating a budget, you set aside the money you can spend and put the rest away in a savings account.
Some people create monthly budgets, some do weekly. It’s recommended that as a college student, you create a weekly budget. A monthly budget, while effective when done right, can be easily spent in a week. Having dinner with friends, movies and video games are all expensive and can burn through that monthly budget extremely quickly.
When creating a budget, you can create a spreadsheet or workbook that show monthly expenses such as rent, groceries, and other monthly living expenditures and base your spending budget accordingly. It’s incredibly important to stick to this budget – do so and you’ll find yourself saving money!
Buy in Bulk
Another tip to saving money in college is buying in bulk. While it may seem like a large one-time fee, it will save you money in the long run. Buying in bulk is effective as it can usually save you a few dollars that you’d otherwise be spending if you bought the same product on a weekly basis.
Look for things such as non-perishables, soap, and other bathroom appliances, as well as things you can freeze such as different meats and vegetables. Bulk buying these products will not only save you money – it will make life easier! It will save you trips to the grocery store, and will make meal planning much easier!
Sell, Sell & Sell!
Wasting is never a good idea. It’s especially not a good idea when keeping the stuff you are done with can give you money! When you’re done with your text books, sell it to a student who will need it. If you are done with a video game, sell it! That mini-fridge you’re never going to use again when the school year is done? Sell it!
Selling your stuff can be a great way to make back some of the cash you spent. There are many students who need the things you have. Why not take the opportunity to thrive off this? Too many students leave their textbooks untouched when the school year is done, yet selling them can put hundreds of dollars back in your wallet!
Saving money in college is hard – but it isn’t impossible. Play your cards right, and you could come out of your college education with money in your wallet. Remember, College Star Counseling can help you when planning for college!