Saving money for your wants (or even needs) can be challenging and frustrating for a college student. While you have so many things to buy, you often have little money at your disposal. One of the reasons for this is you don’t have a full-time job when you’re a college student (well, most college students don’t).

This makes a lot of college students wonder about ways to save a decent amount of money to meet ends. If you’re one of those, you’ve come to the right place. In this article, Schantz will discuss the five best ways to save money when you’re in college. Read on asserts William Schantz.

5 Tips for Saving Money for College Students as Per William Schantz

According to Schantz, here are five essential tips for saving money being a college student:

1.      Avoid Buying New Course Books

Due to the high costs involved, avoiding buying new course books or textbooks is one of the best ways to save a good amount of money. It’s advisable to borrow necessary textbooks from other students in your class. Also, you can approach your seniors who have already completed their semester to borrow textbooks they don’t use anymore.

Another way of getting rid of buying expensive books is to get them from your college library. Plus, you can go to Amazon’s website to buy used books, allowing you to save some extra bucks.

2.      Avoid Using Your Credit Cards too Much

There’s no denying that credit cards contribute heavily to excessive spending habits. If you own a credit card, you have to be extremely careful when using it for your purchases. According to Schantz, you should only buy what you think you can pay off at month-end.

It’s advisable to avoid keeping a balance since credit card interest rates are incredibly high at times. Therefore, it’s wise to use your credit card in dire need.

3.      Avoid Driving a Car

Being a college student, driving a car is something you should avoid as much as possible if you want to save a good amount of money. A car incurs significant expenses, such as insurance coverage, gas charges, and parking fees. Also, you can come across occasional car repairs – which might be expensive.

If you want to save some extra bucks, it’s best to use public transit wherever possible. You can also try some transport services, such as Uber or Lyft.

4.      Avoid Eating Out

Instead of eating outside, buying a school meal is a fantastic way of saving some extra bucks. Most college students don’t realize how costly eating outside can be, and when they do, it’s already too late. Another way to do this is spending on things that benefit in the long run – and not just for the time being. For instance, if you spend a good portion of your cash on lattes every day, it’s advisable to invest your money in buying a coffee maker. This will come in handy in the long run. 

5.      Use Your Student ID

Generally, college students enjoy a range of discounts on different items. You can get discounts on clothing, laptops, and much more with a valid student ID. These discounts help you save some extra bucks. For instance, you can avail of special student deals when ordering a meal at a restaurant.

The Bottom Line by Schantz

Saving a decent amount of money is tough when you’re a college student. More often than not, you have so many wants on your wishlist but not enough money at your disposal to fulfill them. This leaves many college students frustrated. Though saving money as a college student is challenging, it’s not entirely impossible. You can save some extra bucks by following the tips that William Schantz has covered in this article.