Frugal Living Tips for College Students

posted on Monday, September 20, 2021 in Announcements

Financial Blog | woman holding a piggy bank

College can be stressful due to many reasons; academic demands, relationships, and post-graduation plans. Your expenses can also be a problem, especially if you’re living on a tight budget. Every single dollar you spend may put a strain on your weekly or monthly budget. To help you out, here are some tips on how to save money as a college student:

Rent or Buy Your Textbooks

College books are expensive. Many students barely use their textbooks and required readings. With these in hand, it’s best to rent or buy used books for your subjects.

You may buy secondhand textbooks from previous enrollees at lower prices. If you choose to rent, there are many textbook rental sites on the internet. It’s a cost-effective option, especially if you’re looking for the latest edition of a specific book. In addition, you may opt for digital books. E-books come cheaper than their printed counterparts as they do not have printing and distribution costs.

Cook at Home or Plan Your Meals

Most of your time as a student is spent on studying or socializing. You may not have the time to prepare your meals, and this may lead to overspending. Instead of dining in restaurants or cafes, cooking your own food is a great way to save money. If you have leftovers, you have the choice to reheat or reinvent them.

Track Your Expenses

One of the best ways to avoid overspending is knowing your spending patterns. Tracking your expenses helps you understand which aspects you should allocate more of your money to. 

To do this, make a list of all your monthly expenses. This should include your rent, utility bills, groceries, and small purchases, such as coffee and food deliveries. Tracking every purchase can indicate which ones you should cut back.

Remember, you have complete control over your actions that affect your financial stability as a college student. Being smart when it comes to managing your expenses, especially while you’re young, will be beneficial in the long run. If you want to stay informed on how to save money as a college student, you can reach out to us at Community 1st Credit Union.