In college, a lot of money is wasted that could be saved. For students graduating soon and planning to go to college or those already in college, this article lists and talks about some ways to save money in college. Using some of this advice while going through your education can save you a lot of money.
Buy used textbooks. Why are you buying new textbooks that have the same information as an old one? Save money, go to the library to get your books, or buy them used. Most of the textbooks listed aren’t even used in the course; wait until the first class to see what books you will need. If needed, you can most likely resell the textbooks, depending on their condition.
Apply for scholarships. Most of the time, you can use the same essay for multiple scholarships, reducing the work you have to do. Find a common scholarship essay topic, write a good-quality essay on that topic, and then apply for as many scholarships as you can. At most, you’ll have to tweak the essay a little bit, depending on the scholarship. Most scholarships have specific requirements; you can use MOS to find personalized scholarships you qualify for. Some local scholarships include the Kreager Family Scholarship, the State of Michigan Children of Veterans Tuition Grant, and the Michigan Tuition Grant.
Limit eating out. Stop sending that doordash to your dorm because you don’t feel like cooking. Stop only buying snacks when you go “grocery shopping.” A lot of people’s expenses, especially in college, tend to go toward food, which can be avoided. If you don’t know how to cook, find some recipes with videos showing how to make them. You’ll never learn without practice.
Avoid impulse spending. No, you don’t need those sunglasses at the Forever 21 checkout lane. Don’t buy that expensive watch you walked past because you thought it looked nice. Avoid spending on things you don’t need or that you like and want, especially if you cannot afford to. To avoid this when shopping, stick to a shopping list, set saving goals, and stick to a budget.
Take advantage of your student perks. Keep your campus ID on you and take advantage of campus facilities like technology, gyms, student discounts, and libraries. Do not bring a car on campus if you do not have to. Bringing a car on campus brings expenses like parking spaces, gas, and insurance. Instead of bringing a car, you can take advantage of public transportation, scooters, and bikes.
Having a budget in college allows you to see where your money is coming from and going. This helps you manage your expenses and better save for long-term expenses that need to be made. You can create a budget by keeping track of your expenses in a journal or datasheet. The 50/30/20 budget plan is a good way to separate your funds. 50% goes on necessities, 30% on wants, and 20% on savings.
