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Starving College Students--4 Tricks You Can Use to Save Money (349 hits)

After living at home with parents for years, most college students transition to living on their own. Though most students receive some financial support from parents, many students often take part-time jobs or even full-time jobs to support themselves. This article offers advice on how to save money as a student.

Transportation Costs

While some students have the luxury of having a car provided by their parents, other students must supply their own transportation. If purchasing a used car, consider your budget and always test drive any vehicle you are considering. You should also shop around for inexpensive car insurance. Saving on a monthly premium can either put cash in your wallet or allow you to save that money for other expenses.

Credit Card Debt

Many students turn eighteen and are drawn to credit card offers. While it can be tempting to pay for expenses with plastic, this is usually not a good idea, especially if you don't have a full-time job. Instead, pay for your expenses in cash as you go. This could mean making sacrifices, such as waiting a few months to buy new clothes, or keeping the same smartphone for a couple of years.

Needs VS Wants

You need housing and food, which are often provided for you on campus. If a scholarship or federal loan pays for food and shelter, then you can use the money from your job to pay for basic necessities, such as toiletry items or a new winter coat. However, some students go into debt because they want to pay for extras, like road trips with friends or concert tickets. While it is good to splurge on extras now and again, you should not splurge every semester. Instead, go to free events on campus. Most colleges invite musical guests or screen films for free.

Scholarship Money

Students don't often know about all of the scholarships available to them. Scholarship databases are free to browse, and they list scholarships based on field of study and student interest. You should also speak to someone from your university scholarship foundation. This representative can tell you about university-wide scholarships and deadlines.

College is a stressful time for many students, especially where finances are concerned. However, if you make smart financial decisions you can reduce your student debt. Compare prices for cheaper car insurance, only buy what you need, and apply for multiple scholarships.
Posted By: Rachelle Wilber
Friday, October 26th 2018 at 11:52AM
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