College days are the most important & joyful period in our life, in that time we are knowing more about ourself, family, society, life, etc., and also we should learn the value of the money. Because during the college studies students have started to spending significant amount of money for their daily expenses, so there is a possibility for wasting money. Generally students are two types, first one is, students who receives money from their parents as a pocket money even some of them are may be stingy. But 80% of the students are come by this category so this kind of students have the maximum chances to spending money unnecessarily. The second type is, students who spends his own money which was earned by them by the way of working in part-time jobs. The maximum students in this category are have already know the value of the money except few. But the both kind of students are must spends the money carefully, because it helps to manage the financial structure in their future. Through this article i am going to teach how to save money as a college student.
Tips to Save Money as a College student:
1. Buy Used Text Book:
During college every students are advised to buy own books for all subjects. Are you a student who wants to save money on book then go to the old book shops and buy used books instead of new books. Because the new books can be expensive so you can save handsome money by buying used books.
2. Save Money on Transportation:
Transportation charges are the another important expenses in daily life for students. If you go to college by your own vehicle you must spend much amount for it, it may be two wheeler or four wheeler that’s not a matter. But if you prefer any other public transportation you can save more, and also you can reduce transportation charges by the way of getting lift from your friend’s vehicles. Is your shelter is located nearby your college? then try to go to college by walk and avoid vehicles, then you can save money as well as maintain your health.
3. Bring Lunch Everyday:
If you are a hosteler(a student who stays at college hostel and does his studies), you no need to do anything. But if you are a day scholar(a student who stays at home and goes to college regularly), you need to change your food habits. That means try to bring lunch everyday instead of eating food outside, because it helps to cut down your expenses so you are able to save decent amount of money. If you stay outside then try to cook your own food. And also avoid eating out is helps to maintain your body in a healthy way.
4. Try to Reduce Residential Expenses:
This idea is not suitable for hostellers and day scholars it only suitable for students who stays outside of the home & hostel and does his studies. If you are planning to living out side then you are able to save money by adding your friends in your residential room/house as a Roommates and sharing the rent with the roommates.
5. Avoid Penalty Charges:
Always try to pay all bills & fees on correct time so that’s only you can avoid the late penalty charges. The things may be semester fees, hostel fees, mess fees, room rent, electricity bill, mobile bill, etc., but if you pay it on time, it helps to reduce your extra expenses. Additionally buying cheap plans for your mobile, internet also helps to save certain amount of money.
Some other Money Saving Tips for Students:
- Use college gym instead of private gyms, because as a student you can get an offer membership.
- Use the full advantages of the educational Scholarships.
- Find a part-time job for managing your expenses.
- Open a savings account on a bank near by you, it helps to save money safely.
- Don’t buy unnecessary things and try to avoid credit purchase.