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College Students Money Saving Tips

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If you’re leaving home for the first time and going off to college, you’re probably pretty excited and really looking forward to being on your own.

While it’s true that college can be one of the best times of your life, unfortunately, it can also be one of the easiest times in your life to accumulate a lot of debt.

Here are some of the best college students money saving tips…

money-saving-tips-for-college

  • Say no to credit cards.
    While it’s true that credit cards can be great to have in the event of emergencies, they can also be a horrible way to add to your debt load before you even graduate. Saying no and paying for things with cash ensures that you won’t be tempted to buy things you don’t need.
  • Know your total cost of living.
    Figure out exactly how much money you need to pay rent, utilities, gas, food etc. ahead of time. That way, you always know the bottom line and will be less likely to spend frivolously on other things.
  • Pay yourself an allowance.
    An allowance allows you to set aside some money for fun. Sure, it will be a smaller amount than your parents set aside for fun, but even if it’s only $25 a week you’ll be happier in the long run. If you stay within your personal allowance each month, then you won’t overspend on a bunch of impulse buys like many college students do.
  • Keep track of your receipts.
    It’s easy to just toss receipts from the things that you’ve purchased. However, receipts are one way to track exactly what you’re spending. They’ll also help you get a handle on your spending, in case you frequently find yourself going over your budget. You can even make it fun by tracking your receipts on with a cellphone app.
  • Be frugal.
    You are never too young to learn the art of frugality. By pinching pennies here and there, it now will help you to stay out of debt in the future and it will help you save money now!
  • Keep your eyes open for identity theft. 
    If you become a victim of identity theft in college, it can ruin your credit rating and the ability to get a good job before you even graduate. So, it’s a good idea to stay on top of your credit reports.

Also see this great article: Student Loans, How To Find The Right Loan For College.

Regina
Regina

My favorite things to write about are topics that have to do with pregnancy, weddings, saving money, living green, and life with dogs. When I’m not writing, I love to spend time with my husband, read, create 3D artwork and Native American beadwork.

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Filed Under: Jobs & Money, Students / Kids Money Tagged With: college, credit cards and gift cards, frugal tips, saving money

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LynnetteWith input from Financial Advisors, (a Tax Accountant and an Investment Manager), I share helpful tips regarding money and finances -- including debt relief, insurance, budgeting, and investing for retirement. My goal is to help you save more, spend less, and invest for the future by sharing honest, tried & true budgeting tips and tools. When I'm not saving for the future and helping others save for theirs, you can find me at the corner of Good News & Fun Times as publisher of The Fun Times Guide (32 fun & helpful websites).

Lynnette: View My Blog Posts

AndreaI have been a certified tightwad striving for financial freedom since I became pregnant with my first child -- and I decided to find a way to stay home with him full-time. I enjoy sharing my personal experiences in my journey back to financial health and planning for a future -- which will include sending 2 kids to college and early retirement.

Andrea: View My Blog Posts

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