Hello Quizzlers! My name is Kristina and I just became an intern here at Quizzle.com. I graduated from college in May, so I am learning a thing or two about the importance of post-graduation money management.
Being a college student can mean a lot of things, but along with all of the fun comes new responsibilities.
It is the first time you learn how to do things on your own, including personal budgeting. Keeping track of the money going in and out of your pocket can seem tedious at times, but it is necessary to prevent getting into serious problems like debt.
Here are a few money saving tips to help while you’re away from home:
1. Take advantage of campus activities
Your school wants you to enjoy yourself while you are there, so most campuses will host events that are free for students to attend. Anything from sporting events to stand-up comedian performances could fall under this category of school-sponsored events. Student groups and organizations are a good place to start to look for a list of upcoming events. You might be surprised to find out how much you can save on the weekend by going to a few free things every once in a while.
2. Use student discounts
Going along with finding out what kind of deals your school offers, check out the local restaurants and stores in your college town to see if any of them give special discounts to students. This could be a cheaper ticket to the movies, a free drink with your meal, or even a percentage off your purchase at your favorite retail clothing store. Who knew that having a student ID could be like having a reusable coupon to all your favorite places?!
3. Buy used
It is just a fact—sometimes things aren’t taken the best care of in a college house or apartment. In contrast, why should students not be able to have nice furniture? That’s where buying used could come in handy. Look in on-line classifieds for used furniture. There is probably a site specifically for students at your school. There is a good chance you will find some great deals, especially if you look for people who are having moving sales.
Since you aren’t buying something new you don’t have to make a long-term commitment to a color or style. You can also use the practice of buying used products when it comes to books and other class requirements. And then at the end of the year, you can sell your books and furniture before leaving campus to make some extra cash for the summer.
4. Host group events
Something my friends and I realized while away at school is that we missed home-cooked dinners with the family. So we decided to recreate that atmosphere at our college apartment. Once every two weeks (you can do this more or less frequently depending on everyone’s schedules) we would have a group meal together.
There are a lot of times that buying and cooking for one can be tricky, so buying for a group can be cheaper (food isn’t going to waste) and cooking is easier (since most recipes aren’t written for only one serving). Rotate who cooks and who hosts, but every time divide the grocery bill amongst everyone that comes—it usually ends up only being a few dollars per person, so it is a great alternative to eating out with friends all the time.
5. Look for other alternatives
Love having coffee in the morning while you’re in your first class? Make it at home instead of buying an overpriced cup’o’joe at a coffee shop. Pack a lunch or a snack rather than going out to eat in between classes. Other luxury expenses can really add up, so if you can figure out a way to tweak your expensive habits and save a little (or a lot) of money, you will definitely appreciate it in the long-run.
6. Watch sales
Keep an eye out for sales on items you purchase regularly. Paying a sale price for the things that you use on a daily basis will save you money in the long run. Shop around at different grocery markets and drug stores for the best price on these staple products. One great thing about comparing prices is that competing stores could be offering discounts on different products each week.
7. Walk, bike, carpool, or ride the bus
With the ever-increasing gas prices, driving a car around campus can get pretty costly. Instead, bring a bike with you to campus or walk to class when you can (weather permitting). Also, look into the public transportation system at your school. A monthly or semester bus pass could save you money on gas for those trips that are too far for your bike. If you have no alternative to driving yourself to class, find neighbors or classmates that want to carpool. You’ll all save money on gas and parking!
8. Cut back on utilities
There are some little changes you can make in your daily routine that could save you money on your utility bills. Simply unplugging your cell phone charger when it’s not being used or opening windows instead of using a fan or the air conditioning can save on electricity costs. Also try using natural light during the day and turning off all unnecessary lights. Taking timed showers and only doing full loads of laundry (whenever possible) can save money on the water bill. On top of saving money you are also being more environmentally-friendly!
In my experience, these ideas can help minimize a few of the most common financial burdens. This way you can spend your time worrying about other important things, like what’s for dinner or what to be for Halloween.
Photo credit: http://www.flickr.com/photos/stuartpilbrow / CC BY-SA 2.0
These tips seem very helpful, I’m definitely going to use them!
Great ideas — thanks for the tips!
Great ideas Kristina. Here’s another one about bank charges. Make sure you use your atm card at your own bank and not have to pay an extra $2 every time.
Avoid alcohol, big ticket item
even it is a little bit difficult ,but if we follow the tips it will be really work.