How to Save Money in College: 20 Simple Tips You Can Start Today
College is exciting, but it can also be super expensive. Between tuition, books, and late-night pizza runs, it’s easy to feel like your wallet is always empty. The good news? Saving money in college doesn’t have to be complicated.
Below, we break down 20 practical tips to help you keep more cash in your pocket while still enjoying your college experience. By following these strategies, you can focus more on your studies and less on financial stress.
1. Track Your Spending
The first step to saving money is understanding where it’s going. Many students find themselves spending impulsively, whether it’s on coffee, snacks, or random online purchases. Start by using a budgeting app like Mint or YNAB to monitor your expenses.
These apps automatically categorize your spending, helping you identify problem areas. Alternatively, a simple spreadsheet can work just as well. Dedicate 15 minutes a week to reviewing your purchases and see where adjustments are needed.
For example, if you’re spending too much on takeout, try cutting back by preparing meals at home. By knowing exactly how much you’re spending and where, you’ll feel more in control of your finances and can start setting realistic savings goals.
2. Create a Budget
Creating a budget might sound boring, but it’s a game-changer when it comes to managing your money. Start by listing your sources of income, such as a part-time job, student loans, or allowances from family.
Next, outline your fixed expenses—like rent, utilities, and phone bills—and your variable costs, such as groceries, entertainment, and transportation. Be honest about your spending habits to avoid underestimating costs.
Once you’ve got the numbers, decide how much you want to save each month and allocate funds accordingly. Sticking to a budget may take practice, but tools like budgeting apps can make it easier.
Remember, a budget isn’t about restricting yourself; it’s about prioritizing what matters most and avoiding unnecessary expenses.
3. Buy Used Textbooks
Textbooks can eat up a huge chunk of your budget, with some costing hundreds of dollars. Fortunately, buying used textbooks can help you save big. Check online platforms like Chegg, Amazon, or your campus bookstore for pre-owned or discounted books.
Another great option is renting textbooks, which is often cheaper than buying outright. Some websites also offer digital versions at lower prices, which can be convenient and budget-friendly.
Before purchasing, ask professors if older editions are acceptable; they’re usually cheaper and still contain most of the same content. At the end of the semester, sell your textbooks to recoup some costs.
By being strategic with your purchases, you’ll avoid overspending on materials that you may only use for a few months.
4. Take Advantage of Student Discounts
Your student ID is a money-saving superpower. Many businesses, both online and offline, offer discounts to students. From clothing stores to streaming services and restaurants, student discounts are everywhere.
Always ask if a discount is available—you might be surprised by how much you can save. Apps like UNiDAYS and Student Beans make it easy to find deals tailored to students. Even major tech companies like Apple and Microsoft offer discounts on laptops and software.
By consistently using your student discount, you can save money on everyday expenses and big-ticket items alike. Don’t forget to carry your student ID with you wherever you go, and keep an eye out for special promotions throughout the year.
5. Cook Your Own Meals
Dining out might be convenient, but it’s also expensive. Preparing your own meals can save you hundreds of dollars each month. Start by learning a few simple recipes that don’t require fancy ingredients or equipment.
Planning your meals for the week can help you shop smart and avoid food waste. Stick to grocery lists and look for sales to maximize your savings. Cooking at home doesn’t have to be boring either; experiment with spices and flavors to keep things interesting.
Consider meal prepping to save time during the week, especially on busy school days. Not only will you save money, but you’ll also gain a valuable life skill and eat healthier overall.
6. Use Free Campus Resources
Many students overlook the free resources available on campus, but these can be a goldmine for saving money. Most colleges offer free access to gyms, libraries, career counseling, and tutoring services.
Attending on-campus events like movie nights, workshops, and cultural festivals can provide free entertainment and even free food. Some schools also have resource centers that lend out equipment like cameras or laptops.
By fully utilizing what your college offers, you can cut down on external expenses. Check your school’s website or student portal to find out what’s available and make it a habit to take advantage of these perks.
7. Walk, Bike, or Use Public Transport
Owning a car in college can be a financial drain due to costs like gas, insurance, and maintenance. Instead, consider walking, biking, or using public transportation to get around. Many campuses are designed to be pedestrian-friendly, and biking is a great way to save time and money.
If public transit is an option, look into student discounts for monthly passes. Some schools even offer free shuttle services for students. By avoiding car-related expenses, you’ll have more money to put toward other priorities.
Plus, walking or biking is great for your health and the environment.
8. Limit Credit Card Use
Credit cards can be helpful for building credit and covering emergencies, but they can also lead to debt if not used responsibly. Avoid charging more than you can afford to pay off each month, as interest rates can quickly add up.
Look for student-friendly credit cards with low rates and no annual fees. Use your card primarily for planned expenses, like groceries or gas, and always pay your balance in full to avoid interest.
By keeping your credit card use in check, you’ll protect your financial health and avoid unnecessary stress down the road.
9. Shop Smart for Groceries
Grocery shopping on a budget doesn’t mean sacrificing quality. Start by buying store brands instead of name brands; they’re often just as good and much cheaper. Plan your meals for the week and create a shopping list to avoid impulse buys.
Look for sales, use coupons, and try cashback apps like Ibotta or Rakuten to stretch your dollars further. Buying in bulk for non-perishable items can also save you money in the long run.
By being strategic about your grocery shopping, you can eat well without blowing your budget.
10. Attend Free Events
College campuses are bustling with free activities, from concerts and movie nights to workshops and career fairs. These events are a great way to have fun, meet new people, and save money.
Check your school’s event calendar regularly to stay updated on what’s happening. Many events even include free food or giveaways, which can be a bonus.
By taking advantage of these opportunities, you can enjoy a vibrant social life without spending a dime.
11. Share Streaming Accounts
Streaming services like Netflix, Hulu, and Disney+ can add up if you subscribe to multiple platforms. Save money by sharing accounts with roommates, friends, or family members.
Most streaming services allow multiple profiles under one account, making it easy to split the cost. Just make sure you’re following the platform’s terms of use. Sharing accounts is a simple way to enjoy your favorite shows and movies without overspending.
12. Avoid the Campus Bookstore for Supplies
While convenient, campus bookstores often charge a premium for school supplies. Instead, shop at discount stores like Dollar Tree or take advantage of back-to-school sales at big retailers. Stock up on essentials like notebooks, pens, and folders when prices are low.
By planning ahead and shopping smart, you can save a significant amount on supplies each semester.
13. Use Cash Instead of Cards
Switching to cash for everyday spending can help you stick to your budget. Withdraw a set amount each week and use it for discretionary expenses like coffee or snacks. Once the cash is gone, you’ll know it’s time to stop spending.
This method can make you more mindful of your purchases and help you avoid overspending on non-essentials.
14. Find a Part-Time Job
A part-time job can provide extra income to cover your expenses and build your resume. Look for on-campus jobs, which are often flexible and convenient. Positions like library assistant or teaching assistant may come with perks like free meals or books.
Alternatively, explore freelance opportunities or gig work that fits your schedule. By earning even a small amount of money, you can reduce your reliance on loans and improve your financial stability.
15. Buy in Bulk
For items you use frequently, like toiletries or snacks, buying in bulk can save money over time. Warehouse stores like Costco or Sam’s Club often offer better prices per unit.
Just make sure you have enough storage space and only buy what you’ll actually use. Bulk shopping is a smart strategy for cutting costs on everyday essentials.
16. Use Your Meal Plan Wisely
If you have a meal plan, make the most of it by eating at the dining hall instead of eating out. Take advantage of all-you-can-eat options and consider bringing a container for leftovers, if allowed.
Skip expensive coffee shops by making your own coffee at home or at the dining hall. By fully utilizing your meal plan, you can significantly cut down on food expenses.
17. Sell What You Don’t Need
Got old clothes, gadgets, or textbooks gathering dust? Sell them online through platforms like Poshmark, eBay, or Facebook Marketplace. Decluttering not only earns you extra cash but also frees up space in your dorm or apartment.
Consider hosting a yard sale or joining local buy-and-sell groups for even more opportunities to turn unwanted items into money.
18. Borrow Instead of Buying
Before buying something you may only need once, consider borrowing it from a friend or using your campus’s lending resources.
Whether it’s a formal outfit for an event or tools for a project, borrowing can save you money and reduce waste.
Check with your school to see if they offer rental programs for equipment or supplies.
19. Apply for Scholarships
Don’t stop applying for scholarships after your first year. Many organizations offer scholarships specifically for continuing students. Set aside time each semester to search for opportunities and submit applications.
Even small awards can add up and help offset tuition or other expenses. By consistently seeking out scholarships, you can reduce your financial burden and focus on your studies.
20. Limit Impulse Purchases
Impulse buying is one of the quickest ways to derail your budget. To avoid this, implement a 24-hour rule: if you see something you want, wait a day before purchasing it.
This gives you time to evaluate whether it’s truly a necessity or just a fleeting desire. You’ll be surprised how often the urge to buy passes, saving you money in the long run. By practicing restraint, you can prioritize spending on things that truly matter.