How to Save Money During College

Poor college student is a familiar title for most people attending undergraduate or graduate school. Though while you still may not be rolling in money during your years as a student, there are ways to save your precious cash.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Budget limits

1. Know your budget and try to balance income with spending. Pick up a part time job or search for research studies on campus that pay participants for a bit of extra cash.

2. Spend as little money on extraneous things as possible. Go out to eat sparingly and don't go out every night. This doesn't mean that you should sit at home, but be smart about your spending. Don't buy drinks or other indulgences during the week; save them as treats for the weekend and enjoy them in moderation.

3. Take advantage of free food whenever possible. A good way to do this is to find clubs that you enjoy. Many often offer free food at their meetings. On top of that, you have the added bonus of meeting other people who share your interests.

4. Buy your textbooks used if possible. Get a book list from your professor a week or two before classes start and search online for the best deals on your books. Alternatively, if your course has several books and you do not want to purchase all of them, ask around for people who have taken the course in the past and may still have the books or check them out of the library. If you have a friend in your course and the two of you can work out a good schedule for sharing one set of books, splitting the book costs is also a solution.

5. Choose inexpensive modes of travel. Search around for other students who live in your area that you can carpool with to get home and split the cost of gas. If you live farther away from campus, buses and trains are often cheaper than taking a flight back home.

6. Research your living arrangements before committing to anything. Decide how rent and other fees will be split up among room mates and compare these costs with the cost of living in on-campus housing. You may also choose to live off campus, which is typically cheaper, and commute via bus or car. Be sure to take into account gas and parking money when determining off-campus living costs.

Tips & Warnings

• Moderation is the name of the game. Balancing enjoyment with money is tricky, but it will become easier with practice.
• Monitor your bank account balance frequently to keep yourself aware of how much money you have available, especially if you use a debit card.

[electronicguru1]

on 3/24/2009 Being mindful of your financial situation is always key in every step of life, especially in college. I know soo many people who've stepped out into the "real world", riddled with debt!