Smart Savings Tips

4 Tips on How to Save at College

moneybankBy now college students are nearing the end of their first full month of a new semester. This often means a few things: midterms are a lot closer than they appear, their roommates are likely better than they initially expected and they begin making the infamous call home asking “can you please send money”. If you plan on making this call, here are four tips on ways to save while you’re away at school.

  1. Track your expenses. This may be the most simply yet satisfying way to save some cash. In order to save, you need to know where your money is going. Additionally, tracking your expenses is a good skill to have once you enter the “real world”.
  2. Cut unnecessary costs. Learn the ins and outs of your school’s meal plan; be sure to maximize what is offered so you don’t find yourself eating out every day.
  3. Look for extra income. Aside from scholarships and grants, try getting a work-study job on campus or internships that will pay money.
  4. Build your savings. Don’t get a work-study or internship just to turnaround and spend what you make. Get in the habit of putting some money aside – the “senior-year-you” will thank the “freshman-year- you”.

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