Simple Ways to Save Money

Written by  //  2020/02/05  //  Money Management  //  Comments Off on Simple Ways to Save Money

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It’s discouraging when there always seems to be more month than money. Students can take a few simple steps—which may involve a little sacrifice—for the reward of sticking to a budget, avoiding additional debt, and saving some much-needed money.

Investigate Housing Options

Find out whether it’s cheaper to live on- or off-campus. In big cities, housing costs can be high, and it might be cheaper to live on-campus. In smaller towns, though, you may find an apartment or house rental that’s a lot cheaper than living on campus. Double rooms are usually cheaper than singles, because space in dorms is at a premium. If you’re looking off-campus, find out how many people can occupy the rental and find roommates who share your interests and style of living. If you don’t like partying and noise, find roommates who are quieter.

Cut the Cord

Unless you’re living in a dorm with a lounge that offers cable, you’re probably paying for your own cable. If you haven’t already done it, it’s time to cut the cord. Odds are, you won’t really miss TV. If you do, antennas are getting stronger with greater range and some even pick up HD signals from local broadcast stations. When you cut the cord, you’ll cut the time you spend watching TV, which frees up time for studying and fun.

Take Public Transportation or Maintain Your Car

The bus or the train may take longer, but they will save you money. Many schools offer free shuttles to shopping and around town. If you do own an older car, keep up with maintenance and make it last by caring for it.  A clean, well-maintained car will fetch more if you decide to sell it to raise cash for tuition, housing, or savings.

Maximize Your Student ID and Don’t Pay Twice

Students get all kinds of discounts and access to campus amenities. Don’t pay for gym memberships if you can use the school’s fitness center. Always ask if there’s a student discount for event tickets.  Don’t pay for food you already have at home or that’s available on your meal plan in the dining hall. Max out your meal ticket before you go grocery shopping or out to eat. Getting everything you already paid for is a simple way to save money.

Brew Your Own Coffee, Eat at Home, and Find Free Food

It’s much cheaper to buy a travel cup and brew your coffee at home than to drop $3-6 a day on fancy coffee shop coffee. Happy hour becomes your friend when there’s a free buffet. Use coupons at the grocery store and shop when you’re not hungry, with a list of necessities. Cook and share meals—and expenses—with roommates at home.

These are just a few simple ways to save money when you’re paying tuition. Make a budget and stick to it and keep your eyes on your goal of earning your degree and landing a great job. Developing frugal habits now will pay off in the future and enable you to save more when you earn more, and maybe even retire early.

image credit: Pixabay

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