How to Save Money as a College Student

College life is expensive. You have to pay for tuition, accommodation, trips and books. In addition you need  some cash for your day to day expenses. Since students are low-income earners, the best way to survive is to learn how to save well and spend wisely. Below are some tips to help you with your finances:

Start with a budget

Many students fail because they fail to plan before joining college. You have to sit down with a pen and paper, determine how much you have and what expenses you will incur in college. If you don’t plan, your finances will run out before the academic year is over. Once you have your budget, do your best to stick to it.

Sell your old stuff

If you don’t need or use something, you can always sell it to someone who needs it. You can sell stuff over the internet or make some posters and distribute them on campus. However, check the rules to ensure that you are not breaking any as this may cause you to get expelled. Selling your old stuff to buy new stuff that you need is a great saving tactic.

Take advantage of students discounts

Many entrepreneurs understand the struggle of students and thus are always offering them great discounts. You can get discounts for food, clothing, computers and movies among many others. You can get discounts of even up to 15%. When shopping for something, always look for stores with the best discounts. You can also compare prices from different stores before you buy. Avoid shopping last minute as this will minimize the time you have to check discounts and compare prices.

Pay your bills on time

Paying your bills on time will help you maintain a good credit. With excellent credit, you can get lower interest rates when you borrow from banks and other lending institutions. Set up email notifications so as to avoid missing out the payment dates.

Share with roommates and friends to save on costs

Using one car to go for trips or shopping will help you save on gas money. You can also shop together where the store is giving discounts for bulk purchases. You can also share your textbooks, movies and video games. Don’t let your friends buy a movie that you have and they will return the favor.

Take shorter showers and turn off the lights when not in use

Showers add to your water and electricity bills. As such, don’t spend too long in the shower otherwise you bills will go up too high at the end of the month. Also, switch off the bulbs when not in use and consider energy saving bulbs for your rooms.

Avoid too much luxury and impulse buying

Don’t buy something that is not in your budget. If you cannot control your spending, avoid going to the stores altogether or leave your credit cards behind to beat the temptation. Also avoid too much luxury and focus on necessities.