How to Save Money as a Student Working on a College Degree

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By Paul McDaniel
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Most everyone is looking for more ways to save money in the midst of this tough economy. Being a college student at this time has its positives and negatives. A typical student working on a college degree certainly isn't making much money at the moment. However, a student also doesn't have to worry about being laid off from a job either. But money can still be tight as a college student. If you're a student, there are a number of things you might consider doing to save money while working on your college degree. This article will show you a few steps you can take to save money as a college student.

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ways to save money

Step 1

First of all, one way to save money while working on a college degree as a student is to cut out the bottled water and expensive coffee drinks. Bottled water can cost as much as 10,000 times more than the same amount of tap water. Carry tap water with you in a reusable container and bring home brewed coffee in a thermos. If you cut out these costly daily purchases you will instantly see tremendous monthly savings!
Step 2

Another things you can do to save money as a college student is to eat less meat each week. Not buying as much of that will save money. Also try to eat out less and cook more at home if able (or use up your meal plan on campus each week if that is an option for you). Also, try having a potluck supper with friends where everyone brings a different dish. This is one way to have a nice large meal without spending a lot of money and everyone has a great time! When you do eat out check to see if the restaurant offers discounts for students at the local university on certain days of the week.
Step 3

Another way to save money is to not shop at high end stores at a mall. Go for discount stores for your purchases. Avoid impulse purchases as well. When shopping for groceries, take advantage of the store's discount card, as well as coupons made available each week. Watch for double- or triple-coupon days where you can really rack up on the savings! Whenever shopping, be sure to check for any student discounts that might be going on.
Step 4

Don't rack up purchases with credit cards. You'll wind up deeper in debt and paying a lot on interest. If you do pay by credit card (this does help you build up credit) be sure to pay off the expenses each month so you aren't paying interest. And never forget to pay the bill! A late payment will cost you a fee!
Step 5

When you go out to the movies or another type of show, plan to go to a matinee instead of an evening showing. Or find out if a local movie theater charges less during the week than on the weekend and then take advantage of that.
Step 6

Yet another way to save money is to reevaluate any memberships or subscriptions you have that you may not be using or may not be necessary. Those fees can sometimes add up over time. For example, use your university's campus recreational facilities rather than paying a costly membership fee at a gym off campus.
Step 7

As a college student you'll certainly need books. But when you buy books, try to buy used books when possible (look in additional places other than the campus bookstore. Also look online). Or get the book from the library. If you must buy a CD or DVD as well, look for a used copy for sale.
Step 8

Another thing you can do to save money while working on your college degree is to choose to live close enough to the campus or on campus so that you can either walk or ride a bike to campus and your classes. Or live in a place where you can commute via public transit if available. Not having to drive and pay commuter parking fees (in addition to the time you'll save by not hunting for a parking spot each day) will really help you save several hundred dollars each semester!

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delawaregeek said

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on 8/28/2009 Excellent tips for saving money as a student. Being in college, you usually have only a shoestring budget. Your tips will help in freeing up so extra cash. Nice job!