5 Ways To Make Your Money Last Longer In College

by Leon on January 1, 2014

college tipsAlthough the main reason to go to college is so that you can get the education that you need in order to get the kind of job that you want, ask just about any former college student and they will tell you that it’s also the time when you can develop great money management skills. After all, if there’s ever a time when an individual has to figure out how to make their money stretch as far as possible, it would while they’re in college.

If you would like some tips on how you can make your money last longer while you’re in college, we have five failsafe ones for you below:

Live on campus (or with your parents). Although it can be cool to have an off-campus apartment, with it comes a lot of financial responsibility including paying for rent and utilities each month. Our recommendation would be that you live on campus or with your parents, at least for a couple of years instead. That way, your money can stay in the bank rather than going to a landlord.

Do not use your credit cards. For a lot of college students, it’s not until they get to college that they even have a credit card in their possession. That’s because there are a lot of credit card companies that tend to come on campus and offer them to students. But remember that a credit card is simply a loan that comes in the form of a small piece of plastic and with that loan, there is always interest. That’s why it really is best to use cash as much as possible instead.

Avoid driving to school. If there is any way possible that you can avoid driving to school, we recommend it. Not only will it help you to save money on gas but college campuses are notorious for giving students parking tickets for parking their car in spaces that are not designated to them. And trust us, over time, that can really start to add up.

Get used to using coupons. Say that you’re in the process of getting your masters in healthcare informatics. Well, that’s going to cost a pretty penny to get and so it’s important that you look for discounts in any way that you can. One way that you can do that is buy using coupons and promo codes. Websites like Coupons and Retail Me Not have some from just about every kind of retail outlet that you can think of.

Dine in more. And finally, a tip that you should apply while you’re in college and even after you graduate is to do more grocery shopping so that you can cook at home. Eating out all of the time is something else that can end up becoming pretty expensive, especially if you’re ordering alcohol with your meals. Going out on the weekends a couple of times per month is not going to break your budget, but doing it every day will. So, try to dine in more. It’s healthier, plus it’s definitely much more economical too.

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