HOW TO SAVE MONEY AS A STUDENT IN COLLEGE
Would you like to enjoy fine things in college as a student? Well, you need to know how to save money like a pro.
Saving money in college might seem impossible, but it can be practical.
While most college students usually live on a tight budget, some students tend to live in a cycle of debt. As a student, you need to be more thoughtful about budgeting your finances.
The following guidelines will help you to have insight into how you can spend and save your money as a student in college.
Sell books that you used in your last semester.
As a student, you can sell textbooks you no longer use, especially those you used in the last semester, and get extra cash. Also, as a student, don’t buy new textbooks. Try getting used books that you need in that current semester. This will help you save money since purchasing new books is very expensive
Be careful with your credit cards
If you must have a credit card, select the one with the lowest interest rates and only use it to buy things you can afford every month. Check your balance often and avoid expensive stuff. You can use online banking that will help you to keep track of your credit.
Don’t buy a car
The expenses of owning a car are too much for college students. Think of insurance, gas, parking, and unpredicted car repairs. As a college student, you can save some money if you tend to use public transport. If you need to travel a long distance, you can opt for Zipcar, or you can borrow a car for your friend. Using uber when you need to move for a short distance can help you save some money
Keep in check on the usage of your mobile phone.
My data manager services and WhistleOut.com can help you analyze bills on your phone and ensure you plan the best. They can give you a notification when your monthly data limit exceeds. Ensure your setting has not weakened the Wi-Fi to avoid your cell phone using your data without knowing.
Utilize rewards programs and cashback.
Cashback programs such as Ibotta, Rakuten, and Payce can assist you to have some cash for things you need, such as snacks, detergent, fresh foods, and other personal items. Some reward programs can help you as a student to save some money and get some cash back on valuable purchases.
If you can, try investing.
Try opening a saving account, so you be saving some leftover money, or you can open and save that money on Roth IRA. Ensuring your money works for you can help you save and earn extra cash while in college.
Use your student discounts.
You can seek student discounts at businesses and restaurants around the campus. Ensure you always have your student ID to give an evidence you are a student. Services such as Campus cash offer coupons to many students.
While you may face financial constraints as a college student, following these ideas can help you save and track your finances. This will reduce stress and help you focus more on schoolwork.
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