easy-ways-to-save-money-in-aWe all know that college can be expensive. That’s what makes locating appropriate scholarships so important (if you haven’t started applying for scholarships yet or want some simple tips on how to find the best scholarships to apply to, join our free webinar to get the ball rolling). But, even if you do well in landing funds that don’t require a debt repayment plan upon graduation, that doesn’t always mean all of your expenses are met (or that you want to spend all that money if you don’t need to!) It’s still important to save money in college.
Once the FAFSA has been completed, grants have been awarded, and have the scholarship applications are on their way, it is important to ensure your college student is also making smart money choices to keep their expenses down. So, if you aren’t sure how to broach the subject of living frugally with your child or you want to have a series of tips to pass down, we’ve got your back.
Here are 75 easy ways you can share with your child so they can learn how to save money in college.
Note: There are some affiliate links below, but these are all products I highly recommend. I won’t put anything on this page that I haven’t verified and/or personally used.
BEFORE COLLEGE
If your student is still in high school, here are some money saving options to take advantage of NOW!
Have them sign up for Advanced Placement courses to prepare for AP exams
Check into CLEP exams for college credit
Dual enroll in college courses while in high school
TUITION, TEXTBOOKS, AND REFERENCE RESOURCES
Attend community college for the first two years for lower tuition options
Look into international colleges and universities that may be lower cost
Rent textbooks instead of buying
When textbooks must be purchased, buy used instead of new
Look for prior editions of textbooks (many times, the information is the same, just rearranged)
Use the college library
Use the public library
ROOM AND BOARD
Live at home instead of on campus
Select the cheapest (safe) apartment or dorm room option available
Get a roommate
Monitor utility use (turn lights off when leaving a room, don’t leave the water running when brushing teeth, etc.)
Consider on-campus dining plans
Limit eating out- Try $5 Meal Plan to save money when cooking at home
Buy non-perishable groceries in bulk for cost savings
Meal prep in bulk
Choose drip coffee over specialty drinks
Use rebate apps like Ibotta or Checkout51 to get cash back on things you normally buy (like bread, eggs, you name it.)
Sign up for the Walmart Savings Catcher to scan your receipts and receive cash back.
Clip Coupons
TRANSPORTATION
Go carless and use public transit instead
Look into student transit discounts
Walk or bike instead
Carpool!
Consider taking the bus or train instead of flying home for breaks (ask about student discounts too)
Skip traditional spring break trips for a staycation or volunteer experience that includes transportations, room, and board . Still need to find housing? Try an affordable alternative like AirBnB where people rent out their homes at a major discount compared to hotels! I use this all the time – both in the U.S. and internationally!
ENTERTAINMENT AND COMMUNICATION
Have a movie night in instead of going to theaters
Choose Netflix or Hulu over cable
Attend free social events through the college
Get a prepaid cell phone plan
Stay within your cell phone plan limits to avoid overage fees
Use college Wi-Fi to send emails to friends and family instead of your data plan
Use Amazon Prime for Students (entertainment AND free shipping!)
Avoid buying alcoholic beverages when out (restaurant markups are HUGE)
Ask every restaurant, movie theater, mini golf course, etc. if they offer student discounts
See if your local library or parks department offers free entertainment (think music or movies in the park, book clubs, etc.)
GIFTS AND HOLIDAYS
Make homemade gifts
Do a Secret Santa instead of shopping for everyone
Bake a cake instead of buying one
Potluck instead of going out
Ask for practical items as birthday and Christmas gifts to save money
CLOTHING
Shop gently used clothing stores
Hang clothes to dry instead of using a dryer
Make your own laundry detergent and fabric softener
Shop clearance
Buy classic, quality clothing instead of following trends
Do a clothing trade with friends instead of shopping
BANKING AND FINANCE
Find free checking account options
Take the free checks offered with new accounts
Track spending to avoid overdraft fees
Avoid credit cards with annual fees or other charges
Pay credit card balances in full
Pay bills on time to avoid late fees and penalty interest rates
Start a change jara
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