College Life Academy

1. Textbooks 

 

Though textbooks are useful in school, they are quite expensive, and in the opinion of others, a big waste of money.

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Textbooks cost around $200 - $700 and according to The College Board, between course materials and textbooks, students can expect to spend between $1,240 - $1,440 per academic year. This is a lot of money that we should keep in our pockets, wouldn’t you agree?

 

In my first year of university, I spent $1,180 on textbooks alone. These are textbooks that I used ONCE.

 

The funny thing is, most of my textbooks can be purchased at a cheaper price or can be downloaded online for FREE. 

 

Before you go and purchase a $500 textbook, do this: 

 

• Check to see if there is a free online version and download it.

• Find other websites that would sell it cheaper, like Amazon for example. 

• Find sources that would rent you those textbooks for a cheaper price. 

• Students who have taken the course may still have their textbook, maybe they are willing to sell it to you. 

• Check your library and rent that textbook for free. 

 

2. Reduce The Number Of Times You Eat Out

 

 

Now listen, for me, this was one of the hardest things to cut back on, because I LOVE eating out with my friends and overall having a good time. Sometimes, in college, we don’t have time to cook and prepare our meals so the easiest thing is to go to McDonald’s, KFC, or Five Guys and eat out, not to mention that really nice restaurant. 

 

But once you can master this challenge, you would be surprised at the amount of money you have saved. 

 

As a starter, try limiting the number of times to eat out. For example: if you eat 4 times a week, limit that to 2 or 3, just as a start and once you get the hang of it, you’ll only eat out once per week or even twice for the month. 

 

Also, find out if your local grocery store offers student discounts. This way you can purchase groceries at a discounted price and save more money. 

 

Try preparing weekday meals ahead of time, so that you can just grab and go. 

 

3. Start A Budget

 

This is key to managing and keeping your finances in order. Creating a budget is a great money spending plan because it shows you where your money is going and coming from. 

 

Having a budget ensures that always have enough money for the things you need and the things that are important to you. 

 

So create a budget to help control your spending, track your expenses, and save more money. 

 

 

 

4. Join Amazon Prime Student

 

As a member of Amazon Prime Student, the deals are amazing. There are so many benefits of signing up. 

 

You can sign up for free and have free access for six months, and after that, you pay $6.49 USD per month or $59USD/ year. ($7.99 CDN/ month) 

 

Some benefits of Amazon Prime:

 

• Fast, free shipping 

• Access to thousands of movies and millions of songs 

• Special, exclusive deals for students

• Access to games, audiobooks & e-books. 

 

Amazon Prime Student Link: https://www.amazon.com/amazonprime 

 

5. Meal Plans 

 

Most colleges require that first-year students get a meal plan. So this is often mandatory. Oftentimes, these meal plans can cost thousands of dollars. There are more expensive than buying and preparing your own food. 

 

Once meal plans become optional, ensure that you do the calculations to make sure that it is worth the money. 

 

 

6. Compare The Cost Of On-Campus Versus Off-Campus Living.

 

 

It’s no question that on-campus living is expensive, costing over $10,000 every academic year. In this case, living off-campus with a roommate is the cheaper option. 

 

But, I don’t want you to think just about the cost of rent, please compare and take into consideration things like utilities, transportation, food, internet, and furniture. And then from there, you will be in a better position to weigh your options. 

7. Keep Your Money In A High-Interest Account

 

Ensure that the bank account you’re saving your money in is a high-interest account. Otherwise, you are simply throwing money away by paying all these transactional fees and gaining little to no interest. 

 

On your next trip to the bank, speak to a licensed financial advisor about opening a high-interest savings account, if you don't already have one. 

 

I found that doing some investing helps me to earn some high returns.  

 

Please talk to a licensed financial advisor before you make a decision to enter any stock market or investment portfolio. 

 

8. Use Transportation, Walk Or Ride A Bike Rather Than Buying A Car. 

 

Yes, it’s really impressive to have your own car in college, it’s easy and independent. But having a car comes with a lot of costs like insurance, gas, maintenance, and so on. These expenses can be a lot on you, especially in college. They tend to dig into your pockets so frequently.

 

Walking, riding a bike, or using public transportation is much cheaper and would save you tons of money. 

 

 

9. Sell Things That You No Longer Use 

 

Selling all your old stuff is a great way to earn extra cash. I mean, you don’t need them, so why not sell them and make little earnings. 

 

There are a lot of websites and stores online where you can sell your used clothing, furniture, textbooks, or tech items. 

 

Three popular websites are: 

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• Poshmark: https://poshmark.com/

• Facebook Marketplace: https://www.facebook.com/marketplace 

• Gazelle: https://www.gazelle.com/ (sell your old devices) 

 

10. Use Campus Services 

 

Make the most of the services provided to you on campus. Most colleges give you access to everything, so make the best of it. 

 

 They could be free services or even way cheaper than using services off-campus. For example, campus gym, the student clinic, counseling centers, tutoring services, and so on. 

 

 

 

 

 

 

There you have it. 

 

I hope these tips will help or have helped you to save some coins in college.

 

If there are any other tips that you would like to share, please email me or leave a feedback. 

 

 

 

HAPPY SAVING!