Being a student doesn’t come cheap these days. The average student debt after graduation in America is $28,950! So any way you are able to decrease that amount during your time at college will pay big dividends for your long-term financial health. Here are our 4 best money saving tips for college students to help get you on the path to being debt free today!
- Ditch the car if you can
This is our favorite of our money saving tips for college students. Gas, insurance, car payments and maintenance all add up fast. If you can find a way to make a car-free lifestyle work, you’ll be on the path to big savings. Consider taking public transit, walking, biking or hitching a ride to school with a friend.
- Check out books from your school library instead of buying
If you find your textbook expenses too high, see if they are available at your school’s library instead. Many have textbooks on reserve, meaning students can’t take them out for extended periods of time. Many textbooks are also available online if you don’t mind reading from a screen.
- Make your coffee at home
Coffee is a crucial source of energy to power you through long readings and nights at the library. If you find yourself constantly buying coffee on campus, remember those costs can add up quick. Making your coffee at home can lead to big savings over time. Invest in a quality thermos and you can keep your homemade coffee warm all day for whenever you need it.
- Get some roommates
Living alone is expensive. Not only does the rent cost more, but expenses like electricity, internet and even groceries cost more when you do it solo. So if you can, find a group of people to live with to split these costs. The savings will amaze you!
Want to learn more about saving? Here are 4 things you should never pay for.