Money Saving Strategies for Students

It's not a secret that many college students are living on a budget. Otherwise they have all the chances to run in a debt. But if you learn the art of smart shopping you will be able to make savvy purchases and save lots of money. The key to financial success lies in understanding how you’re spending your money. Don't be afraid to turn into a penny pincher as being cheap and having spending savvy are different things. It's better to live within your means than beyond. To become smarter about the way you spend your money and stretch your dollars further consider following the money-saving tips below:

  1. Remember to pay your bills on time to avoid penalty fees.
  2. Refrain from making impulse purchases.
  3. Instead of buying new books purchase or rent used textbooks. It also makes sense to sell last semester's books back.
  4. Get rid of such vices as smoking and binge drinking which are bad for your health and extremely expensive.
  5. Walk, ride a bike or use public transportation.
  6. Shop in the stores that offer discounts to students with a school ID.
  7. Avoid go grocery shopping when you're hungry.
  8. Share room with other student to save on rent and utilities.
  9. Decrease the number of times you eat out.
  10. If you have been using a credit card, try to pay it off as quickly as possible.
  11. Subscribe for a basic phone package or plan that provides unlimited texting along with free incoming calls.
  12. Instead of purchasing the most expensive college meal plans opt for the correlating package that includes the food you actually eat.
  13. Consider dining with friends to divide the cost of groceries.
  14. Making your own coffee is cheaper than buying it in coffee shops.
  15. You can save money by attending a campus gym as many colleges offer their students free memberships or big discount.
  16. If you need some books for just a short period of time consider checking them out from the library instead of purchasing them. If the book you need is not available at the library or you are going to use it pretty often you had better buy college textbooks at eBay.
  17. If you have some clothes, computer or furniture that you don't need or use any more it makes sense to sell them online or in a store that offers used merchandise.
  18. Instead of going out take advantage of entertainment and activities available in campus. Many campuses have museums to attend as well as organize some entertainment like movie nights or social events which are rather inexpensive or even free.
  19. You can save on music by using free services.
  20. Attend the classes. Remember that you or your family are paying for tuition and skipping classes means just throwing money out the window!
  21. Forget about expensive spring break and summer trips for a while and look for volunteering opportunities instead.
  22. Postpone having a pet until graduating from college. A pet needs food and veterinary bills are rather costly. If you love animals, you can look after animals in shelters as a volunteer.
  23. Check out class requirements and find out if there is an option for testing out of classes. Why pay for a class you could easily test out of?
  24. Credit unions have great programs for students so it would be a good idea to open a savings account and start earning interest.
  25. Avoid taking a loan for anything that is not related to your education.
  26. Find out whether you can become a resident advisor to be eligible for free room and board.
  27. Try not to buy expensive name brand items. By purchasing generic items you can save lots of money as they are practically the same products but at a highly reduced price.
  28. You can save practically on everything, including grocery products, clothing, furniture, school supplies, home appliances and much more if you shop online and use promo codes 2016 that offer enticing discounts and incredible deals.