College is the most exciting part of a student’s life. There are numerous activities that you can indulge in with friends. But at the same time, you need to keep tab on your finances. Most students end up spending big bucks in college and then working hard to pay off the loans. A lot about survival stems from the person’s ability to manage things well, personal finances are at the top of that list.
College only happens once in your life, and you will never get these years back. So incorporating the following tips will help you manage both your social and financial life.
Becoming Frugal
Each cent adds up to a dollar and each dollar spent can leave you with just a few cents. This is true in case of high expenses. Say, you eat out everyday and your bill amounts to $10, and then this amount could cost you roughly $300 in a month! Add to this the drinks and you may be broke by another $40. When with parents, this area was of least priority to you but now you need to pack your lunch and plan meals as much as possible. Here is a list of frugal living sites.
Student Discount Cards
Certain colleges provide online information about the best deals on campus. Students can place orders and get them delivered to their campus dorm or study area.
Don’t forget to make the most of student discounts and offers. Perhaps you might need to change your supermarket, or go to a different clothes shop, pub or bookshop, but you’ll save money. Discounts can really add up over time.
TextBooks
To manage your finances you can opt for either used text books or renting options. It is a highly profitable option if you compare the price of the new book with the used or rented one. Some books are required for short time so it’s better to pick second hand books and save money. You can also rent books, which not only saves cost but is also a convenient way of getting books. Renting books save you from the trauma of finding buyers for your books.
Wholesale Clubs – Shop with Friends
You can get membership of wholesale clubs like Sam’s, BJ’s, etc. BJ’s Wholesale Club gives its members the advantage of getting well known products at a reasonable cost, all this at an annual fee of $45. This money can be easily recovered once you spend $200 on groceries alone. At Sam’s members can avail special and exclusive discounts and privileges. Thus you end up purchasing items cheaper here as compared to regular groceries because you get to by them at wholesale price.
Online Student Discount
You need to make use of online discounts to reap benefits of within budget laptops, transportation, clothing, dorm furniture, movies and even your twin xl bedding. Dell has been a pioneer of student discounts for many years. Though the discount provided varies from college to college but you can be safely expect a discount between 5% to 11% or more off the total price. HP discounts for students range from 7% to 10% of the products’ cost. Apple computers offers discounts for both college/university students, as well as for students in K-12 schools.
Tips: It’s safer to use a credit card for online purchases than a debit card. Debit cards generally provide less protection. If you don’t already have one – apply for a student credit card today.
Airlines offer discount as high as 70% for students. You can even avail hotel reservation discounts as high as 50% till you are able to show your student ID card. Theaters like Kerasotes give student discount and go a step further to give discounts on bulk ticket purchase. Costco is one retail store where you can get discounts on movie tickets.
Discounts just don’t come from small setups but even from big name companies like Denny’s, Barnes & Noble, Apple, The Limited, and Macy’s! Set your priorities right, plan, think and then spend, you’ll definitely save a lot of money each month.
