Live Frugal as a College Student

In the upcoming weeks, college dorms and campuses across the nation will become filled with students. The college years can be problematic for several reasons. Aside from late night studying and maintaining a high grade point average, many college students must find ways to cope with money problems. While a college student’s parents may be generous and provide a monthly allowance, other students must seek part-time employment. Even with a part-time job, making ends meet can be difficult. For this matter, college student may have to adopt some frugal practices.

âÂ?¢ Used Textbooks – In addition to paying room and board, the cost of books causes a financial strain for most students. Even though the idea of buying textbooks brand new is appealing, the cost of new books can be doubled the cost of secondhand books. Moreover, some professors require multiple textbooks for a single class. Students carrying a full schedule, with 4 or 5 classes, can anticipate paying $300 for books each semester. Students can save up to 50% buying used textbooks. An excellent and frugal way to save money on supplies is sharing textbooks with another student.

âÂ?¢ Food Options – Some college students have meals included within their tuition. This option allows the student to have two or three free meals in the student dining room daily. Students without a meal inclusion must pay for meals out-of-pocket, which can become expensive. College student must budget for meals accordingly, and avoid the temptation to spend their meal money on frivolous items. Students with access to a small kitchenette or microwave can purchase instant meals such as Ramen Noodles. Many selections are inexpensive and filling. Students can also obtain small meals by thinking creatively. Some restaurants and young adult hangout spots offer free appetizers and buffet meals during happy hour. In most cases, these establishments have a minimum age requirement of 21-years-old. Some will allow entrance to students 18-years or older.

âÂ?¢ Get a Roommate – Some college students love the idea of having their own room. However, single room dormitories are expensive. Furthermore, renting an apartment on-campus can drain finances. Cut costs by advertising for a roommate. Sharing the monthly expenses with another person creates more disposable cash in your pocket.

âÂ?¢ Get an Emergency Credit Card – Credit card companies bombard college students with numerous offers. Unfortunately, many students acquire too much debt while attending college. Needless to say, credit cards can be beneficial. The key is using the credit card for emergency purposes only, and repaying the balance each month.