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How to Save Money in College: 5 More Tips That Won't Break the Bank

8/22/24  | Emily Knuteson, Relationship Banker
 
College student
College expenses can be a large source of stress for students and their families. It is one of the first big expenses students face in their adult life. Knowing good ways to save money and better ways to spend money can relieve a lot of stress for students and their families. In our previous article we discussed some ways to save money while preparing for college or while you are just starting your college career. In this article we are going to discuss additional tips to set you up for financial success in college and beyond.
  1. Use Your Home Kitchen First
    Using your kitchen at home or in your dorm is going to save you more money instead of going out to eat every meal. Buy groceries in bulk so you do not have to go to the store as often which will help keep your kitchen nice and stocked. If you drink coffee, invest in a coffee machine and supplies so you can make your own coffee. If you have a meal plan at school, use it! Eating out on campus is often cheaper than going into the city for food. Plan your meals each week, so you only buy groceries and snacks you need and will use.
  2. Use Public or School Transportation
    Most colleges and universities have campus shuttle buses or even bikes that are free to use for students. Public transportation often is free or discounted with a student I.D. card for days when you want to explore off campus. If you are living with friends that brought their personal vehicles, offer to help with gas in exchange to carpool with them to and from school. Using these free or discounted means of transportation is cheaper than bringing your personal vehicle to school with you. When you bring your own vehicle to campus, you typically must pay for a campus parking pass along with paying for the gas you are using.
  3. Take Advantage of Your Student I.D. Card
    With your student I.D. card, you can qualify for student discounts in multiple fields. For example, technology packages, clothing, shoes, streaming services, subscriptions, food, and even entertainment. You may be wondering how to find these discounts and make sure you participate in any discount you can. There are multiple apps designed just for this; “Student Beans” and “Unidays” are two extremely popular apps used by students. Always keep your student I.D. on hand when you shop and ask before you purchase anything. Whether you save three dollars on Amazon or five hundred dollars on a new computer for school, saving money will always add up.
  4. Use Your College’s or University’s Resources
    Colleges and universities always have events, activities, and services available for students, you just need to know where to find them. Nowadays, most schools will have a student social media page that announces events, activities, weekly themes, and services available for students. Use social media as a resource to find cheap and often free activities for you and your friends. These events and services range from homecoming parties to free therapy sessions during the school semester. You can easily find study groups and locations on these media pages along with speakers coming to your school that you might be interested in. Keep yourself updated with these events and activities and you just might broaden your interests, finding new friends along the way.

College is expensive, but finding little tips and tricks that work for you and your budget can make all the difference in your finances. College should be a wonderful experience where you grow on all fronts of your life, but you need to take the time to prepare yourself for all the expenses you may face. The little things may seem silly or inconvenient, but they are worth it when all is said and done. Get out to your school’s events and make the most of your college experience; time and money are never wasted when you are furthering your education!


ABOUT THE AUTHOR
Emily Knuteson is a Relationship Banker at Altabank. She loves exploring marketing concepts and leaning more about the world of banking.