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Categorized | Paying For College

7 Tips To Saving Money On Your College Campus

There’s no question about it – college is a costly pursuit. In fact, according to the College Stats site, the average cost of a public university education is around $64,000. However, today’s students are more financially savvy than ever, using smart tactics and creative options to stay afloat, despite overwhelming college costs. Even in the midst of trying times, the intrepid college student finds ways to survive.

Learning to Live with Less

Life with Mom and Dad is very different from life on your own, and many college students learn this early on. When money is tight, today’s smart students simply learn to live with less. Homemade meals replace restaurants, free museums replace movies, and library books replace bookstore indulgences.

Buying it Used

The biggest difference between new and used items is usually just the price. College students are smart about finding affordable used textbooks, but this isn’t the only item you can find pre-owned. Clothing from Goodwill, furniture hand-me-downs from graduating seniors, and old well-loved cars are just some of the things that financially strapped students may opt for.

Bringing Home the Bacon

While college is all about preparing for a job, there’s no reason that students can’t work while they’re in school. There are many opportunities both on and off campus that can help bring in extra cash. Many of these employers willingly work around the student’s schedule and offer flexible hours to make school and work more compatible.

Wise Use of Borrowed Funds

When financial hardships really hit home, sometimes scrimping and saving just isn’t enough. Students can make use of credit cards, personal loans, and payday loans (if they’re employed) for emergency purchases. The important thing is to understand how these options work and to make it a priority to pay them back before interest rates make the cost of the original item outrageous.

Selling Skills

College students have lots of marketable skills that can help them earn extra cash. Those with high test scores can offer to help high school juniors and seniors with SAT Prep. Upperclassmen can tutor younger students. In college towns with a large resident population, babysitting, pet-sitting, and house-sitting services are often needed. Whether you’re handy at fixing computers or cars, you can often find a market for your talents.

More Affordable Living Arrangements

There are many options for college students living on campus. To save money, students may move back home if their parents live close enough. For those who don’t have this option, it’s always worth comparing the price of a dorm room with a small or shared apartment. Students who work as RAs usually receive free room and board in exchange.

Fuel-Free Transportation

On campus, owning a car is usually more of a luxury than a necessity. Selling a car is a quick way to get some cash if times are really tough. To cut back on fuel expenses, it’s worthwhile to look into getting a bike or bus pass. On many campuses it’s often possible to simply walk.

With smart tactics like these, college students can easily cut back and make their educational experience affordable and manageable on even the slimmest budget.

About the Author:

Today’s guest article is provided by Natalie Bracco.  She is a freelance writer and an amateur baker. When she’s not busy in the kitchen, you can find her writing about technology, education, food and finance.

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