Being a college student is expensive – tuition, textbooks, housing, food, and everything else adds up quickly. However, there are plenty of ways to save money and live frugally as a student. Follow these money-saving tips to stretch your budget further.
Housing Hacks
Rent a Room Instead of an Apartment
Renting just a room in a house or apartment instead of getting your own place can save you hundreds per month. You’ll have to share common areas, but your housing costs will be much lower.
Become a Resident Advisor
Many colleges offer free or heavily discounted housing for students who serve as resident advisors (RAs) in the dorms. It’s a great way to save big on rent.
Live Off-Campus
While not always cheaper than dorms, living off-campus in an apartment or house with roommates can be very affordable compared to pricey student housing.
Food for Thought
Cook Your Own Meals
Eating out or ordering food gets expensive fast. Cook your own meals at home to save money. Buy groceries in bulk and meal prep to stretch your food budget.
Use a Meal Plan Wisely
If your college requires a meal plan, use every single swipe or dollar on it. Don’t let any prepaid campus dining money go to waste.
Take Advantage of Free Food
Keep an eye out for free food events on campus like club meetings, activities fairs, or resident hall programs. Free pizza or snacks can help supplement your food budget.
Cut Costs Everywhere
Thrift and Reuse
From clothing to furniture to school supplies, buy secondhand items when possible to save money. Thrift stores, garage sales, and hand-me-downs are your friends.
Avoid Expensive Habits
Things like smoking, drinking, and daily coffee shop runs can really drain your funds over time. Cut back on vices and little luxuries to keep more cash in your pocket.
Get a Job
Having a part-time job, work-study position, paid internship, or side gig can provide extra income to cover expenses and reduce reliance on loans.
Living frugally in college takes discipline, but it’s worth it to minimize debt. Get creative with saving money and you’ll be able to make it through school without going broke.