College can be a time of enlightenment and learning, but it can also be a time of penny pinching – penny pinching to the point where you are not sure what you are eating for dinner. However, college can be difficult financially because you have a lot of fiscal responsibilities. Not only do you have tuition looming over your head – you also have other expenses looming too, like textbooks, rent and more. Luckily, there are a number of ways to save money in college so that you aren’t so hard up. It can be nice to have this money saved, because you will need to rely on it time and time again. If you still have a nice financial cushion when you graduate, it can be nice to tap into this savings to start paying off student loans.
- Sell Off Old Textbooks to Pay for New Ones
Textbooks can be really expensive. This is especially the case when you purchase them brand new. Of course, you want to purchase them used, because that is all you may be able to afford and you will need a lot of them during your years in college. This is why you want to sell off your old textbooks when you need new ones. This is also why you want to keep your old textbooks in good condition.
- Get a Part Time Job
Another way to create a solid savings account is to get a part time job. You may not have much time for a part time job, but you may want to carve a few days out of the week, or a few hours each day. You could do anything: bag groceries, cut lawns or even find a paid internship in the field that you are interested in. You can stash your earnings right into your savings account.
- Sign Up for a Savings Account With Strict Withdrawal Limits
When you do set up a savings account, you want to find an account that forces you to have tighter purse strings. It may be too easy to spend your savings, so you want to tie it up for yourself to make it a little more difficult to access. You can usually speak with a banker about some of the best accounts. Plus, if you go to a certain college, like Northeastern University, you may be able to open up a special college student savings account.
- Use as Many College Resources as Possible
When you are in college, you will usually have a lot of expenses covered for you. For instance, your dorm may be included in tuition and your meals may be covered too. This is why you want to eat in the cafeteria as much as possible. Sure, the food may not be as great, but it is certainly better than being broke all the time.
- Eat In, Not Out
On top of everything, you want to make it a point to eat in and not out for your meals. If you keep eating out, you will go through your savings really quickly. Going out to eat can be drastically more expensive. If you have a kitchen, you could go to the market and stock up. In the end, you may also enjoy the food more.