How To Not Go Broke In College | The Odyssey Online
Start writing a post
Student Life

How To Not Go Broke In College

It sucks sometimes, but it'll be worth it.

27
How To Not Go Broke In College
LearnVest

Before my freshman year of college, my parents mandated that I put at least $3,000 into my savings account so I would have enough money to get me through the year. By the end of my freshman year, I had spent all but $600. To this day, I still haven't been able to save that much money, and I regret my frivolous spending habits. Let my mistakes be your warning, and check out these tips to help you not go broke in college.

1. Stop eating out.

Yeah, it's easy to get a group of people together to go to Taco Bell, but it's almost easier and often more fun to have Dylan bring tomatoes, Emma bring lettuce, Noelle bring tortillas, Taylor bring sour cream, Lea bring hamburger, and Andrew bring cheese, and I'll cook tacos in my apartment. Way more fun, way less money out of each person's pocket. "But it's cheap!" you say. Sure, it's cheap. But when you order a $7 pizza four nights a week, that money adds up. Don't believe me? Do one of these two things: A. when you get your monthly bank statement, highlight all your food charges. I'll wait. Or B. Stop eating out for a month and see what that does for your account. Sometimes it sucks, but it'll save you so much money.

2. Utilize student discounts.

Lots of places offer student discounts, from nail salons to stores to ice cream shops. Amazon offers 6 months of Amazon Prime for free when you provide a .edu email address. Spotify has a student rate for Spotify Premium. Utilize these offers!

3. Rent your textbooks.

Websites like Chegg, Amazon, and Thriftbooks have all the textbooks you need, and at a fraction of the cost of the bookstore. The more money you can save, the better! Especially if you're only using them for four months.

4. Learn to love window shopping.

My friends and I love to run off to Target when we need to get off campus. My problem is that I spend approximately $2 a minute that I'm there, and sometimes more. Yeah, clearance yoga pants sound amazing, but you don't need 17 pairs of them. If you're like me, sometimes the best thing you can do is just leave your wallet in your apartment when you go just so you're not tempted.

5. If you drink, buy cheap alcohol.

I know cheap alcohol is horrible, but you'd be surprised what Pinterest can offer in the way of recipes for cheap mixed drinks.

6. Buy a coffee maker.

The cheap ones work just fine, and run about $15, or you could splurge a little bit and get a Keurig. Even though some models can be expensive, it's so much cheaper to make coffee in your dorm or apartment than it is to buy Starbucks every day. You'll have to get up about 10-15 minutes earlier, but it's worth it to save that dough.

7. If you have a job, funnel money into savings.

I didn't work my freshman year of college, and that hurt my wallet a lot. Now that I'm working, I try to put at least 10 percent of each paycheck into savings as soon as the check clears. Sometimes I try to outdo what I put into savings the week before, just to see what I can save. One of my friends puts all but $50 into savings each pay period. Try a Pinterest savings challenge. You'll be thankful to have that cushion there if you drop your phone and need to have your shattered screen replaced.

You don't have to stop having fun to stop spending money. Go out with your friends, and you can of course splurge a little from time to time. College is stressful enough without worrying about money too, and learning to manage your money now will only help you later in life.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Christmas tree
Librarian Lavender

It's the most wonderful time of the year! Christmas is one of my personal favorite holidays because of the Christmas traditions my family upholds generation after generation. After talking to a few of my friends at college, I realized that a lot of them don't really have "Christmas traditions" in their family, and I want to help change that. Here's a list of Christmas traditions that my family does, and anyone can incorporate into their family as well!

Keep Reading...Show less
Student Life

The 5 Phases Of Finals

May the odds be ever in your favor.

1421
Does anybody know how to study
Gurl.com

It’s here; that time of year when college students turn into preschoolers again. We cry for our mothers, eat everything in sight, and whine when we don’t get our way. It’s finals, the dreaded time of the semester when we all realize we should have been paying attention in class instead of literally doing anything else but that. Everyone has to take them, and yes, unfortunately, they are inevitable. But just because they are here and inevitable does not mean they’re peaches and cream and full of rainbows. Surviving them is a must, and the following five phases are a reality for all majors from business to art, nursing to history.

Keep Reading...Show less
Student Life

How To Prepare For The Library: Finals Edition

10 ways to prepare for finals week—beginning with getting to the library.

2816
How To Prepare For The Library: Finals Edition
Photo by Clay Banks on Unsplash

It’s that time of year again when college students live at the library all week, cramming for tests that they should have started studying for last month. Preparing to spend all day at the library takes much consideration and planning. Use these tips to help get you through the week while spending an excessive amount of time in a building that no one wants to be in.

Keep Reading...Show less
girl roommates
StableDiffusion

Where do we begin when we start talking about our roommates? You practically spend every moment with them, they become your second family and they deal with you at your best and at your absolute worst. They are there to make you laugh just a little harder, cry a little less and make each day a little better. We often forget to thank them for the little things that they do to make college even a tiny bit easier and more fun. This list of 26 things are what you should thank your roommates for right this minute and every day that you live with them.

Keep Reading...Show less
Student Life

20 Thoughts While Studying For Finals

I may or may not be stressing right now.

2889
Thoughts While Studying For Finals
StableDiffusion


That time of the semester has arrived once again, finals. The worst week ever. Who thought it was a good idea for all your classes to have exams all in the same week? Definitely not me. Here's 20 thoughts you may have studying for finals.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments