College can be hard, especially when trying to make your way to being independent. However, we won’t blame you if you complain about how hard things have been lately, especially regarding finances. College life is full of financial struggles, except, of course, when you’re from an affluent family and can buy just about anything you want.
But for the other ones out there, times are tough and will probably be even harder as the years go by in college. Luckily, it doesn’t have to be that much harsher if you think about your finances smartly. In this article, we will discuss some tips that can make your financial life as a college student much easier. Let’s start.
Buy Used Textbooks
Buying brand-new textbooks has its own merits. For example, if you have a little brother looking to follow in your footsteps in college, the brand-new book you just bought can be used by him. Also, by buying a brand new book, you won’t have to worry about defects like moth-eaten covers, missing pages, etc. However, we’re also not going to deny that brand-new books are expensive.
For example, if you’re looking for that one physics book by Paul Hewitt, that would cost you upward of $259. So, instead of using up all your money from your part-time job, why not free yourself from an expensive burden and look for used books instead? There are hundreds of secondhand books online on sites like ThriftBooks. Some of these copies can even be as cheap as $10.
Cook Your Meals
If you have a stove, rice cooker, or microwave in your room, then instead of going out to eat regularly, why not buy your ingredients and cook your meals yourself? Also, if you don’t have cooking appliances, why not save money to buy them so you can cook your meals yourself? Sure, some of these appliances might not be cheap, but they justify the price because you’ll save money from not needing to dine out.
Not only that but if you’re clever, you can look for discounts or even promotion days in supermarkets that significantly reduce the price of certain items like fruits, veggies, cereals, etc. Or, if you have extra money from your part-time job, you can even start stocking up on food for later consumption.
Always Carry Your Student ID
Student IDs aren’t just for access inside the campus; they can also be a tool to get discounts and other promotions from stores and even fares. You can even ask your college about their list of local stores and national businesses offering student pricing.
How do you take advantage of this? By bringing your ID, of course! For example, if the local supermarket is giving out discounts for school supplies, you just need to flash them your ID and get the discount.
Use Public Transportation
With today’s gas prices, especially with the conflicts abroad, you might already hesitate to use your car for everyday use. If you want to save on gas, why not take the bus? Nobody likes riding the bus, but you can’t deny that a few bucks is nothing compared to the hundreds of dollars you’ll spend on just gas alone.
Also, if you’re struggling with the fare, you can show the bus driver your student ID, and they can give you a discount. To make your public transportation adventures much more convenient, you can even buy a year-round bus pass that you can use for the bus if you’re not planning to use your car anytime soon.
Reduce Credit Card Usage
In some situations, using your credit card is much more convenient than just paying with cash. However, you probably know that excessively using your credit card can lead you to rack up debts later.
As much as possible, you should only limit your usage of credit card debts during emergencies or for situations where you can save money if you use them instead of cash. For example, if you’re looking to wager on the Portland Trail Blazers odds, it’s much cheaper to do it online than to go to your local bookie.
You should also remember that some credit cards accrue interest daily instead of monthly, and the longer you don’t pay up your balance, the bigger your debt will be. That said, if you already have a balance on your credit card, it will be better to avoid putting more debt into it. Furthermore, here are some tips to use your credit card more efficiently:
- Pay at least more than the minimum monthly payment.
- If your credit card has a grace period, take advantage of it.
- Never go beyond your credit limit.
- Don’t open more credit cards.
- Monitor your account for fraudulent charges.
Final Words
College life is expensive, or it might seem to be since you’re trying to be independent. It must be a shock for you, but it’s just a taste of adult life. If you want to survive college, especially regarding finances, you should follow the above mentioned tips. College life is a financial nightmare, but it doesn’t have to be if you’re smart enough.
