Money Saving Tips for the Future College Student

Money Saving Tips for the Future College Student

You did it! You made it through high school and now you are gearing up for college. While summer is a great time to relax and have fun, it is also the perfect time to start planning ahead for college expenses. Whether you are dorming or staying at home, here are a few tips to ensure that you are not spending more than you have to when it comes to:

Textbooks

College textbooks can cost you hundreds of dollars. You may already be planning to save for textbooks this summer, however, you can save a ton of money by opting out of buying textbooks and choosing to rent them or buy used copies. Most textbooks you buy for college will only be used for one semester, so why not try options that allow you to pay less than half the price?  Many sites such as Textbooks.com and Rentbooks.com offer renting options as well as used copies.

Food Plans

Dining plans are an ideal way to save money on food when you are no longer relying on mom and dad to prepare your meals. With a food plan, you can choose from a variety of different options and pay one fee that will guarantee you enough food for the entire semester. Many colleges offer plans for both dorming and commuting students. However, many of these plans have deadlines during the summer. Enroll in a dining plan early to ensure that you are not breaking the bank on groceries and eating out.

Become an RA

Want to live on campus but can’t afford the bill? Consider becoming a resident advisor. Resident advisors are in charge of overseeing dorms, but the best part is they get to live on campus for free. These positions are highly competitive, so it is best to apply over the summer before school starts.

Open a Savings Account

Before the fall semester begins, open a savings account and use the summer to practice monitoring your spending habits and start putting money aside. This will help you get in the habit of maintaining a reasonable budget for school.

Credit Cards

Now that you graduated, you may notice a cluster of credit card applications in your name arriving in the mail. Credit card companies offer special deals for college students so they can start to build their own credit. When applying for a credit card, make sure you choose the option with the lowest interest rates so you won’t have problems paying your bills each month and staying within your budget.

Leave a Comment