Looking for ways to save money as college student or grad student can be simple and effective! There are plenty of easy switches you can make to your spending habits to get on track with your financial goals.
1. Set a Budget
There are many different strategies to creating a budget, but it comes down to setting realistic limits on how much you’re spending in key categories. For example, your key categories might be rent, utilities, internet, water, phone bill, groceries, car insurance, gas, subscriptions, and dining out.
You should aim to limit spending while keeping it as realistic as possible. For example, eating out is definitely a luxury, but realistically, you will likely buy food from restaurants with friends at least once a month. That leads me to my second tip to save money as a college or grad student…
2. Meal Prep All Meals
Meal prepping will save you SO much money and time – two invaluable assets as a student with a busy schedule! To meal prep, look up a recipe online (I use Pinterest), make sure the quantities are set for 4-6 servings, write down the ingredients as a grocery list, and only shop for these and essential items at the grocery store!
By going into the grocery store with a plan in hand, you’ll be less likely to stay to aisles that have tempting goodies that rack up your grocery bill. You can use Sundays to prepare all your food for the week and store it in your fridge or freezer. This will help cut down on all those times you get super busy mid-week and decide to order take out.
3. Buy Second Hand
Buying second hand can be such a fun way to save money as a college student and is very eco-friendly, so it’s a win all around! If you’re moving, stopping in a thrift store or checking out sites like Facebook marketplace are great options for finding unique pieces that can save you a lot of money. Shopping for clothes in thrift stores can be a little limiting depending on where you live, but thankfully we have sites like ThredUp to help us out!
4. Slash Your Subscriptions
You know all those free trials you sign up for? Did you remember to cancel them? Or maybe there are monthly subscriptions that you don’t use as much when the semester gets busy. Why continue paying for something you can’t even use? Check on your bank account to see what subscriptions you’re paying for, and decide if you still would like to pay for each one.
5. Live with Roommates
This is arguably the best way to save money as a college student or grad student. Depending on where your school is, it might be much more affordable to live off campus with roommates. You guys can split rent, utilities, and household items while growing your friendships! Of course, roommate horror stories do happen, so be sure to choose your roommates wisely and make sure you’re on the same page when it comes to divvying up apartment costs.
