In this post, you’ll learn about ways to save money in college and different money saving tips for college students. Saving money in college will be a breeze once you’ve finished reading this amazing list of 34 college money saving tips! Enjoy!
Unless you’re a high-roller, most college students live on a tight budget. Sometimes you have to get creative and find unique ways to save money in college in order to stretch a dollar.
Let’s be honest, college is the one time in your life when you’re allowed to be frugal and cheap (very cheap) and not be judged for it (too harshly).
If you need money for college, you’ll have more money by saving more money. You know the old saying, a penny saved is a penny earned.
Saving money in college is easier than you think! Below, I put together a list of 34 simple but very effective ways to save money in college! After all, I too was a broke college student once.
The money saving tips for college students which are found below, if implemented, can be used as a guide for saving money throughout your college career. These are in my opinion some of the best college money saving tips!
Best Ways to Save Money in College
1. Rent your textbooks instead of purchasing them! This tip alone will save THOUSANDS OF DOLLARS over your college career I guarantee it! I rented my textbooks online from Amazon and CampusBookRentals.com. You can even rent digital textbooks from RedShelf for half the price!
2. Never go grocery shopping hungry, I learned this lesson the hard way.
3. One of the best ways to save money in college is by opening a no-fee, high interest savings account. The Discover Online Savings account is a really good one to check out.
4. Save even more money using free cash-back websites like Checkout 51, TopCashBack, DollarDig, Swagbucks, and Mr. Rebates. You’ll be able to receive rebates and cash-back on normal essentials you would need to purchase anyways.
5. Avoid over paying for a cell phone plan. You can lower your bill by simply switching to a low-cost cellular plan. For many college students their cell phone is one of the largest monthly expenses they have. Normally, costing them over $100 a month. Consider switching to a low-cost plan and provider like Republic Wireless. Their plans are only $15 a month for unlimited talk and text, and you can pay for data as you go.
6. Instead of purchasing single cases of beer, get a group of friends, each pitch in 5 bucks, and buy a keg instead. You’ll get way more beer for a fraction of the price! Also, this money saving tip alone could save you thousands of dollars in alcohol over the course of your college career. Plus, a keg will last you all day!
7. Always pay your bills on time to avoid late fees. (Use a free service like Personal Capital to track your expenses and send you reminders for upcoming bills.)
8. Pay off your credit card balance in full each month.
9. Take advantage of student discounts, many stores and businesses offer discounts to students.
10. Use your campus gym or fitness center. Many times it’s free if you’re a student.
11. Make meals with friends and split the cost of food.
12. Find coupons and discounts online on websites like Groupon.
13. Consider refinancing your student loans for a lower rate, you can save a lot of money by doing so. One of the best places to refinance student loans at a low-rate is LendKey. They’ll provide the best options available to you, by utilizing their large network of not-for-profit local lenders which offer low-cost and low-rate student loan refinancing.
14. Save money by finding amazing discounts and deals at Way.com.
15. Don’t drink and drive! Getting caught will cost you your driver’s license, thousands of dollars in fines and legal fees. Instead, walk, use public transportation, call a taxi, or get a Uber and split the cost with friends. You can even get a FREE Uber ride up to $20 by using my link (here) and promo code RIDINGUBER20.
16. Avoid making impulse purchases!
17. Try to limit the number of times you eat out each month.
18. Live with friends and fellow classmates to save money by splitting the rent and utilities.
20. Try not to spend all your money purchasing music and songs, instead use a service called Sonos. Sonos will give you instant access to millions of songs and stations, including thousands of free internet radio stations and popular music stations!
21. Other good places to get music online: Musicnotes.com (for sheet music),
Bonus Deal and Savings!! Save $15 off orders of $30 or more at ScoreBig.com by clicking my special link here and using promo code WILDATWORK15OFF30. ScoreBig.com also always guarantees event tickets below box price.
23. Halloween and dressing up for parties is a big deal in college, but it’s really easy to overspend on a costume. Consider making your own Halloween costume or find deals on costumes at HalloweenCostumes.com.
24. I enjoyed playing video games in college, but $60 a pop per game was above my budget or spending limit. To save money I rented my games through GameFly, it was easy and very affordable.
25. If you need health insurance shop around for deals, otherwise it can be expensive (it can also be expensive not to have health insurance!) I was fortunate enough to be on my parent’s health plan during my college career, but I also realize not every college student has that option. To find the best health care and plan options I recommend checking out eHealthInsurance. You’ll be able to find plans from over 180 of the leading health insurers and over 10,000 health products.
28. Avoid over paying or purchasing unnecessary school supplies. You can find deals and discounts on school and office supplies at places like Walmart, BulkOfficeSupply, Discount School Supply, and Concord Supplies.
29. You can save a lot of money by purchasing your textbooks in digital format at RedShelf, up to 60 percent off to be exact! You’ll also save your back by no longer needing to carry around 100 pounds worth of textbooks all the time, not to mention you’ll also save a tree!
30. **Warning: This money saving tip depends on your ethics and principles (and whether or not you’re sober)** When you’re eating out with friends, at like T-Bell or Micky-D’s, ask for a water cup (it’s free), then fill it with soda. Most of the time the employees won’t even notice, and if they do, they generally could care less.
P.S. This money saving tip was meant to be more of a joke. Putting soda in a water cup is consider stealing and is illegal, so I don’t actually recommend this one, like I said, it’s a joke. But, I guarantee 90 percent of the people reading this have done this at some point in their lives…
31. Saving money in college is easier when you have more income. Consider making extra money in between classes and study sessions by watching movies, playing games, surfing the web, shopping, and more on Swagbucks!
33. If you’re not into digital textbooks and still prefer to own physical textbooks instead of renting them, then I highly recommend checking out Skyo. You’ll be able to find much better deals on your textbooks than you would find at your campus bookstore.
34. Last but not least… Do not! By all means do not rack up a bunch of credit card debt by ordering pizza every night. I know it’s tempting and really good, but you don’t want to be paying for those pizzas for the next ten years, trust me!
Author: Tyler DeBroux
Tyler started Oddball Wealth towards the end of 2014 after graduating college, as a way to stay relevant in his area of study, stimulate his mind, and to educate and help others.
Tyler has worked in the financial services industry, as a financial advisor, helping his clients make wise financial decisions and personalized long-term financial plans. Since graduating college in December of 2014, Tyler has paid off more than $15,000 in student loan debt and counting, his goal is to have all his student loans paid in full by the in of 2016.
Tyler is an entrepreneur and an expert in personal finance. Two of his many hobbies include investing and building online businesses. He is also a big advocate of early retirement and an aggressive saver, who utilizes any financial resources and tools available to him to help reach his goals for achieving financial independents.