How to Save Money at College
Heading off to university this year? Consider these tips to save while going to school and learn to spot what you do and don't need to succeed.
A college education is expensive, especially in the midst of the recession. Even students on a full ride find themselves with a barren bank account thanks to all the extraneous necessities. Here are a few ways to cut costs and hopefully leave freshmen, seniors, and students in between with a few bucks in their pockets for pizza and instant noodles.
Budgeting Money Tips for Students
Many students leave home for college with a large sum of cash to help them get through the term/semester or even the entire academic year. Most will not have had this much money to spend before. Some will have had no experience of "real-life" budgeting to help them use it wisely.
Those who want to manage their money better could use a budget to work out how much they have to spend. It may be easiest to do this in stages. So, for example, a student might start by considering:
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How much income do they have for a specific period (i.e. term/semester or year)?
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How much money they will have to pay for essential college/living costs during that period (i.e. fees, rent, college bills, and study materials)?
The money that is left over once expenses have been deducted from income is basically the cash that a student has to spend. If they break this down by working out how many weeks the cash needs to cover, then they will get a weekly budget for all other costs (i.e. food, entertainment, travel, and clothes). Working on a week-by-week budget may make it simpler to make adjustments for any overspending.
Discounts on Textbooks
There’s a reason that books are important to the college lifestyle. Many professors lean heavily on outside readings to supplement their lectures, and it’s never a good idea to skimp on the books. However, skip the school bookstore -– it’s hard to find a place where textbooks are more expensive. Unless your school has a direct deal with the publishers, you’re unlikely to find a good deal in there. Sites like Amazon.com offer a variety of new and used textbooks for a range of prices and offer some great shipping deals, and when you’re ordering lots of texts, the shipping costs can almost rival those of the books!
If you're internet-leery, many school libraries carry textbooks on reserve. Generally, what this means is that the book is available for a limited-time checkout, so you can get your homework done, return it, and pass it along to the next student. Lots of students don’t take advantage of this (free!) service, which can save a lot of time and money – provided you don’t need to use the book for more than a few hours at a time.
Students who must dedicate a large portion of their waking hours to a particular book can try talking to their professors about whether an earlier edition of the required text might be acceptable. Very often new editions are put out with only minute differences from the last ones, and students end up paying more because the publisher updated a few pictures or moved a couple of commas around. Alternatively, if balancing multiple academic demands feels overwhelming, you can always explore the best site to write my paper for me to alleviate some of the pressure. However, sometimes the content does change significantly, so always be sure to ask first.
What You Don't Need to Live in a Dorm
The price of university housing can’t be helped, but what you move into it can. Don’t be fooled by lists that schools provide of "recommended" items – they’re just recommendations. Department stores love to push the idea that students need dozens of plastic organizers and pieces of modular furniture to be successful.
First, find out exactly what’s provided in your room. Don’t shell out cash for the microwave until you're sure there isn't one included in your fixtures. Even if your school doesn’t provide appliances in individual rooms, often there are lounges or common areas with microwaves and fridges available for shared use.
When in doubt, check first, buy later. It’s tempting to purchase everything ahead of time without having even seen your room, but there’s nothing more frustrating than loading down with lots of stuff, only to find that it won’t fit or there’s no practical use for it. Buy the essentials first – bedding, alarm clock, snacks, and so on – then make a more detailed list of your needs later.
University Meal Plans
Many housing programs come with a meal plan, and in most cases for freshmen and sophomores, a plan is not optional. However, a lot of schools offer different types of plans, and it’s easy to overpay without being aware of how much you’re getting. If you prefer to slap some peanut butter on some bread in the morning on your way to class rather than sitting down to breakfast in the dining hall, inquire as to whether your school provides a plan that covers two meals a day instead of three. If you go home on the weekends, see if there’s a plan based on the number of meals a week.
Determine how often you’ll be eating in the dining halls and if at all possible, if you can reduce your plan to reflect that. If your dorm comes equipped with a kitchen, consider cooking some of your meals. You could save somewhere between five to ten dollars each day if you make just one of your meals. Dinner tends to be the most expensive, so if you have some serious culinary talent, consider fending for yourself.
Student Discounts Off-Campus
Especially if you’re in a college town, lots of restaurants and entertainment venues offer student discounts, but you have to remember to ask! Many students are unaware that such a thing exists and miss out on savings every time they head out on the town.
Finding Good Computers for Your Area of Study
Unless you're a real technophile, there may be no reason to pay large prices for laptops. Consider how much you need for school – if you're an English major, all you need might be a word processor and internet capabilities. Comp sci majors may need a little (or a lot) more. You may or may not need the priciest model and the most exclusive software. Consider your academic needs and shop around accordingly.
Printing for School
Some professors require that you print readings and study guides on top of papers and reports, leading to students frantically burning through ink and paper. Try printing more than one page to a sheet and printing front and back to save paper. Make sure to set your printer to a lower-quality print job to save ink. To possibly save on the cost of the ink, paper, and printer, check if your school has computer labs with public printing available. A lot of campuses have a set number of pages per term that students can print for free.
College Students and Transportation
If your school is located in a metropolitan or suburban area, there might be no need for a car to get around your town. Some schools make deals with the local transit authorities to get students on buses or metros for free or at a discounted price, saving some major money on keeping up a car, parking permits, gas, and insurance.
Saving Money at College – So What?
Conserving extra cash might not seem like a big deal, but a little can go a long way on college campuses. As with any budget, it's all about balancing the needs with the money, and with these tips, it might not be a stretch to work in some wants, too. Making lists of what you need (not what the stores claim you need) can help you on your way to keeping some cash on hand rather than holding out your hand for cash the next time you head home.
