20 Money-Saving Tips for Frugal Students
Saving money is hard enough when you’re not a college student with a busy schedule. Although a challenge, it is possible to find savings in every corner of your budget. The Rented Life‘s David Levitz knows about this challenge all too well.
The University of Minnesota student is currently working his way through a semester using a budget of only $6,803 — the average a college student spends — to get by. His challenger, textbook renting service BookRenter, will allow him to keep whatever is left over at the end of the semester. So needless to say, David is making certain to cut back and find savings wherever possible.
To help his fellow students, David is sharing some tips that have helped him save big. These tips for frugal students will not only help you save a little here and there, they’ll help you change your lifestyle for the better.
- You can’t afford a moving crew, so be sure to help your friends when they need it. Because eventually you’ll have to move and you’ll need their help.
- Sounds simple, but saving your loose change can definitely add up. Get a large container and fill that baby up.
- The coffee shops may look tempting at the beginning of the year, buy a coffee maker and a travel mug and watch the savings add up.
- Use a budgeting app, such as our brand partner Moven, in order to track your spending and keep track of your budgets.
- You’ll need a playlist for wandering around campus. Use free services like 8Tracks to create your own personal soundtrack.
- People watch: Some of the best free entertainment that can be found on campus is finding a comfortable spot and watch the weird people as the walk by.
- We all know not to grocery shop when you’re hungry, but I say go hungry and fill up on free samples!
- Consider becoming an RA while in school, as they usually get room and board for free.
- Grocery lists: not just something your mom did. Creating a grocery list helps you steer clear of expensive things that just sit in your cupboard and get stale or moldy.
- At the beginning of the year, look for classes that you can test out of. No use paying for classes you already understand.
- Get involved on campus. Joining clubs and keeping busy helps stave off boredom. And boredom is the enemy of saving money.
- Make friends with your neighbors and work out a carpool schedule. You’ll both save on gas and have some company for the commute.
- Need to fill up your fridge to start the year? Buy in bulk and use your freezer.
- Really needing an extra couple of bucks? Check out the local blood bank or see if you can sign up for a research project on campus.
- Looking to save money on groceries? Go generic. Just because you’re used to seeing brand names in your parents’ cabinets doesn’t mean you need them or that you’ll even notice the difference.
- Recycle! Save your recyclables and take them to a recycling center. Some places will give you money for bottles, etc.
- Need a part-time job this school year? Go for an on-campus job; they’re fun, easy and most let you can do homework when you’re not busy.
- Quit it with the credit cards! Did you know that the average college student graduates with over $2,000 in credit card debt?
- Would you like some inexpensive ways to get around town? Check out Spinlister to rent a bike from someone in your area.
- Wanting to spruce up your dorm room? Look for great decorating items at a yard sale, Craigslist, or thrift shop.
For more on David’s money-saving journey, be sure to follow @The_Rented_Life on Twitter.