With the school year now underway, many college students may have headed to campus feeling confident about their finances. After all, they have a campus dining plan, a wardrobe that's “new" to all their friends and a fresh stash of shampoo and toothpaste. But then the temptations begin—a study group at the coffee place, a late-night movie outing, an outfit for the dorm theme party. Before long, money is flying out faster than it's coming in—but it doesn't have to be that way.
Here are 40 tips for how to save money everywhere so you have more to spend in the ways you want. As those wise words say, “A penny saved is a penny earned."
Save on food
1. Invest in a durable thermal bottle and fill it up with coffee or water as you leave the cafeteria. Most campuses also have water filling stations located throughout so you never need to waste money on bottled water.
2. Attend events that offer free food, like dorm get-togethers or club meetings.
3. Read up on places besides the dining hall you can use your dining swipes, like a smoothie bar or grab-and-go convenience food.
4. Sign up for loyalty/reward programs at nearby restaurants and enjoy special perks for joining, along with ongoing discounts.
5. If you really crave a meal out, make it lunch, which is usually cheaper than dinner.
6. Eat half of your huge entrée and make the other half your lunch the following day—a great way to save money and calories.
7. Buy munchies at the store rather than ordering delivery.
8. Find out which restaurants have promotions, like two-for-one Tuesdays, and frequent them on those days.
Seek entertainment on a budget
9. Join clubs to help fill up your calendar and find like-minded people
10. Check out the on-campus events calendar for games, lectures, movies and comedy shows.
11. Get your culture from student band, orchestra or choir performances.
12. Share streaming passwords (as allowed) with your family or friends. Or alternate services so you're just paying for one at a time; binge what you want and move on.
13. Organize a dorm game marathon and have everyone bring their favorites.
14. Attend a trivia night or other event at a local restaurant. You'll have the experience of being “out" but don't need to buy more than a drink.
15. Visit a cosmetology academy to get services like haircuts or facials for free or at greatly reduced prices.
16. Skip the salon manicures and have a nail party with friends.
17. Rent clothes, especially formal attire you'll only wear once. For theme parties, mine the local second-hand store or see if you can swap with pals who have been to a similar party before.
18. Hold a clothing swap with your buddies to refresh your wardrobe with “new to you" apparel.
19. Opt in for alerts via text, email or app notifications to hear about flash sales. Bonus: Most programs give you a healthy discount off your first purchase just for signing up.
Tap into allllll the extras your tuition includes
20. Find out what's available to rent or borrow, from bikes and camping equipment to dorm fridges and microwaves.
21. Use the gym on campus rather than paying dues elsewhere. (You're bound to go more often, too.)
22. Look into free tutoring resources to ace your next exam or get some tips for polishing a paper.
23. Find out what services your on-campus health center offers, such as support groups.
24. Visit your school's career center to get advice on finding internships or employment, along with tips on fine-tuning your resume and interview skills. They might even offer professional headshots to make your online profiles stand out.
25. Skip pricey rideshares and dial your school's free ride service to get home late at night.
Travel for less
26. Book your tickets early to take advantage of the best prices but choose a refundable option in case your plans change.
27. Travel at off times if possible to avoid traffic and save on air or train fare.
28. Look into student discounts for airline or Amtrak fares.
29. Coordinate with other students to get to and from the airport at breaks rather than paying for a shuttle.
30. Road trip to friends' hometowns for a staycation rather than an overpriced spring break destination.
Spend less on classroom materials
31. Rent or borrow equipment like graphing calculators and musical instruments that you'll only need for one class.
32. Ask around to see if a buddy who's taken a specific class will sell you their materials or books second-hand. Even better see if you can snag them from the library.
33. Check with the professor before you buy books to make sure they intend to use them that semester.
34. Rent your books with an online service. Just remember to turn them back in on time.
35. Keep your own books and materials in good condition so you can recoup some of the cost when the time is right. Check into sites and apps like Bookscouter and CampusBooks to broaden your audience.
Save on everything, all the time
36. Use a cash-back credit card for your everyday purchases. Just be sure to always pay off the balance in full each month so you don't accrue interest.
37. Buy items online through a portal or app that offers rewards, like Ibotta or Swagbucks.
38. Shop online with a browser extension like Honey or CouponCabin that will scan the web for discounts and apply them automatically.
39. Buy reduced-price gift cards at sites like CardCash.com or Raise.com to get full face value for a discount. Check the site's terms to ensure the card is legitimate.
40. Ask every business you frequent if they offer a student discount. Whether it's the local bowling alley or a national retailer, you'd be surprised how prevalent it is to offer a discount of around 15% with a student ID.
Budget basics 101
Wondering where all your money is going? You'll want to create a budget that shows what's coming in each month, such as a monthly stipend from family combined with an on-campus job. Then use a budgeting app to track how you're spending your money so you can see where you're most prone to overspend—such as entertainment or food—and where the tips above will be most useful!
Remember that no matter how you choose to spend your money, college is the perfect time to start a routine of investing in your future. You can even set up an automatic savings plan so you don't even have to think about transferring the money. To stash your cash where you'll get the most bang for your buck, consider options, such as:
Commit to saving on everyday purchases so you can supercharge those savings accounts, while still having fun.
Are you ready to start saving?
Today is the day to start watching your bank account grow while still living your best life. Reach out to Synchrony Bank for more information on the great savings options we offer, along with benefits like easy savings options with direct deposit.
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