How To Save Money In College
I’ve been that broke college student before, and I know how important it can be to find ways to save money in college.
Here are my top 8 tips for saving money in college while still making the most out of your time at university!
Schedule Classes on Same Days
If you are a commuter, this is huge! But it can also save you money if you live on campus too.
When I commuted, I saved tons of gas, coffee, and food when I went to class 3 days a week as opposed to 5-6.
Obviously that is less in gas, but it’s also less days that I’m heading to campus.
And often on days that I headed to campus, I was running late and decided to run through Starbucks or McDonald’s for breakfast (or Chipotle for lunch).
Whereas the days I was already home, I was more likely to just stay home.
So if you are someone who often finds themselves spending money here and there when they go to class, see if you can schedule your classes on less days of the week.
This may result in longer days, but it can save you tons in the long run!
This applies to those that live on campus too. If I went to class, I loved having a coffee in hand from the Starbucks on campus. Whereas, if I didn’t have class and wasn’t getting ready, then I was more likely to make coffee in my dorm.
Invite Friends Over, Rather Than Going Out
While this isn’t as relevant in our current climate, hopefully time will come when we’re all getting together more often.
And with getting together, often comes drinks or meals out.
This can add up really quickly.
Part of college is the experience, so I understand the FOMO when it comes to declining offers to go out to half priced apps or happy hour with your friends.
However, chances are that your fiends are broke college students too, and probably just looking for a way to get together and have a fun time.
Instead, offer to have your friends over, or rotate weekends between each of your places.
Getting together to play board games, drinking games, watch movies or just chill can be just as fun as going out for drinks (and sometimes even more fun).
This is a great way to save money in college!
Take Advantage of Deals for College Students
There are TONS of deals for college students that will save you money. Usually all you need is a student ID and/or student email.
Many movie theaters often student discounts when you show your student ID.
Banks will offer student discounts when it comes to better perks and free bank accounts.
Credit cards, like this one from Discover, offer awesome perks for college students that can give you great ways to get cash back and build credit!
Along with perks, Amazon Prime offers 1/2 off Prime memberships for students. You can get that deal here.
One of my favorite deals for college students that could save you hundreds (or thousands) is YNAB!
YNAB is my favorite budgeting software that offers their software for free for college students for a year.
If you are a college student, just email their customer support to ask for your free year once you sign up! (No credit card required)
Related: Beginner’s Guide to YNAB
Share Expenses with Roommates or Friends
Another awesome way to save money is to find roommates or friends to split subscriptions with.
Anything from phone plans, to Spotify, to Netflix.
You could save tons by getting on these plans with friends or roommates that you trust!
Bonus tip: If you have T-mobile, you get Netflix for FREE!
Take advantage of those chances to split expenses and subscriptions with friends in order to maximize your savings.
Cut Back on Alcohol
I know… easier said than done.
But if you’re not huge into going out to drink, you could save TONS of money by either having friends over for a beer and wine night, or just cutting out the alcohol in general.
The cost of alcohol can add up fast, especially when you’re paying $15+ per drink at the bar or club. Instead, either pregame at home, or cut back on the number of drinks that you buy when out.
It may be easier to just pay for drinks with cash, and only bring the amount of cash that you are comfortable with spending for the night (plus a card for safety/emergency expenses).
This can stop you from impulse buying drinks.
Related: 18 Ways to Save Money and Pay Off Debt
Use Couponing Apps
Let’s be honest, couponing in the traditional sense takes way more time than you have available.
Ain’t nobody got time to sit there clipping coupons and scanning those at the checkout while everyone stares at you.
Instead, use store couponing apps and apps like Fetch rewards that let you add multiple coupons and do one scan.
One and done, just how it should be!
Personally, I don’t even plan my shopping trips around coupons. I buy what I planned and then check after to see if there are any coupons (or rewards in the case of Fetch) available.
This prevents you from spending money on things you wouldn’t have bought in the first place, and also saves you tons of times.
It’s a no-brainer way to save money!
Related: 5 Quick and Easy Ways to Save Money
Learn to Cook a Few Yummy Meals
I was the queen of Chipotle and delivery in college.
The reality of it is, college students are broke and have no time. But sometimes the “no time” part outweighed the “broke” part for me.
One thing that I wish I had done was found a few simple, yummy meals that I had the ingredients on hand for at all times that I could make myself.
That would have saved me hundreds on Chipotle and Chinese takeout.
Don’t get me wrong, those things are still worth the splurge every once in a while, but if you’re looking to save, food is usually the area that most people have room to cut back on.
Get on a Zero Based Budget
Last, but definitely not least.
Get on a zero based budget!
Zero based budgets are the best way for you to save tons of money and figure out exactly what your money can do for you.
I have more info on zero based budgets here.
YNAB is my favorite software for zero based budgeting (and is free for college students).
But you can also do zero based budgets by hand!
Do whatever works best for you!
Related: Beginner’s Guide to Budgeting
