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10 Money Saving Tips for College Students

students.jpgMost college students are living on a budget. If they aren’t, they are likely getting themselves into a bad cycle of debt. As a parent or student – you will find these 10 money saving tips for college students to be vital in achieving financial success. After all, college years are arguably the most expensive time in one’s young adult life!

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  1. Make a budget. Pick a spending limit for yourself that you won’t exceed, and set aside enough for a rainy day. College can get expensive – so it’s important to have a pool of cash you can dip into every now and then.

  1. Take advantage of your student status. Most of the time, local establishments will offer student discounts, so make sure to always have your student ID card handy – and don’t be shy to ask for a discount whenever you think of it!

  1. Buy or rent used textbooks. After all, you’ll only need them for that one semester!

  1. Don’t go grocery shopping on an empty stomach. Doing so will result in clouded judgement and an empty wallet.

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  1. Opt for public transportation or riding a bike, instead of having a car on campus. Some colleges will charge you additional fees for parking your car on site, and don’t forget about gas and regular maintenance!

  1. Live with friends or colleagues so you can split the rent and utility bills.

  1. Don’t buy the most expensive college meal plan. Think ahead and figure out what you actually consume on a regular basis, and get the most appropriate meal package.

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  1. Become your own barista. I can’t tell you how much money I spent on coffee throughout my college years (and frankly, I don’t even want to know.) Invest in a Keurig or old-fashioned coffee machine, instead of forking out $3-$5 per day for your caffeine fix.

  1. Consider taking up an on-campus job. Visit your college’s website on a regular basis and keep track of all employment opportunities for students. Working on campus will save you time and money for travel, and it’s a great way to earn money and gain work experience.

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  1. Buy generic. Purchasing name brand items can really put a dent in your budget.

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