Saving

While you may not have control over the economy, you do have control over the actions that you take.

1. DON’T buy new textbooks. Textbooks can be surprisingly expensive. Before you hit the campus bookstore, see if you can borrow books from a fellow student or from the university library. If not, buy or rent used textbooks at Amazon.com. You can also rent books from Chegg or Barnes & Noble’s textbook service or order digital textbooks through sites like iFlipd, which offer a pay-as-you-go model.
2. DON’T leave home without your student ID. Discounts are available on everything from clothing to laptop and notebook computers for those with a valid student ID. For example, Apple, and Adobe offer reduced prices on tech, while hundreds of big brands like Madewell, Forever 21, and J.Crew give money off on clothing. Local restaurants and chains often give money off on meals, so be sure to ask before you order!
3. DON’T be careless with credit cards. If you do elect to get a credit card, choose one with the lowest interest rate and only charge what you can afford to pay off in full each month. This will help you avoid late fees and costly credit card debt while you establish good credit for your future.

1. DO keep track of your spending. If you know where your money is going it will be easier to make changes if you need to.
2. DO separate wants from needs. Do you really need that 42-inch flat screen television? When money is tight it should not be spent unless absolutely necessary.
3. DO visit your local bank. Ask about checking and savings accounts designed especially for college students. These often have lower fees and no minimum balance required. To track your balance and avoid expensive overdraft charges, use online banking to check your balance regularly.
4. DO limit meals out. If you bought into the meal plan at school, use it! Student discounts aside, the costs of eating out can add up quickly. Consider investing in a good coffee maker instead of spending money every morning on lattes.
5. DO explore campus amenities. Check out activities that are available on campus. Everything from movie nights to fitness classes might be offered free of charge.
6. DO use cashback and rewards programs. Cashback programs like Rakuten, Ibotta, and Payce can help you earn cash for items you need to buy like fresh food, snacks, laundry detergent, and other personal care items. Other rewards programs can help you save cash or earn money back on necessary purchases.
7. DO trim or split subscriptions where possible. Splitting subscriptions for services like Netflix or Hulu with roommates or family members can also help you save money in college. Everyone gets to enjoy the shows they want but aren’t on the hook for the full cost. Even better, some services, like Spotify, offer student-specific rates which make it even cheaper to afford the content you want. Use free versions of subscription services when possible.
8. DO start investing if you can. If you have any leftover money, talk to your parents or family about opening a high-yield savings account or putting those savings into a Roth IRA. Making your money work for you will help you save even more money while in college.
9. DO stay focused on your studies! Many students don’t complete their degree within four years, and every additional semester is another big expense. To stay on schedule, take advantage of university resources like tutoring and academic advising.
10. DO meet application deadlines. Some scholarships renew each year. If you take the time to reapply, be sure to get your forms and letters of recommendation in on time. Earning scholarships and grants can help you save money in college by covering more of your tuition and living expenses.