10 Money-Saving Tips for College Students

The average cost of college in the United States is over $35,000 per year. That's a lot of money just for education and related expenses. Being a college student isn't cheap.

Ideally, you'll have saved some money with scholarships or grants, but how can you save money day-to-day? There are many ways to save money if you're willing to be creative and strategic.

Read on to learn our top saving tips for college students. 

1. Live Off-Campus With Roommates

This isn't going to be an available option for everyone, especially for freshmen, but if you can do it, it can save you a lot of money. 

Many colleges claim that dorm life is more affordable, but this often isn't the case. If you're living in the dorms, you may be paying for things that you never actually use. You may also be paying more for housing than you would be if you chose to live elsewhere off-campus. 

This isn't always the case, and in some situations, dorm life is more affordable (especially if there is no good public transportation or rental homes that are near enough to campus to walk), but you should definitely do the math to figure out if you're throwing money down the drain.

If you're able to live off-campus, live with roommates. College is the perfect time to live with roommates because you may end up with built-in friends. Everyone is trying to save money, you're all in school, and you all have at least one similar goal in mind. 

Living with roommates can be challenging, but it cuts your bills in half (or more if you have multiple roommates). You save money on rent, utilities, furniture, and even food if you all pitch in to buy groceries.

Living alone is great, but it's expensive and sometimes lonely. Everyone should experience living with a roommate at least once. 

2. Keep Partying to a Minimum

Are you a college student who likes to party? 

The real college experience isn't exactly what it looks like on TV and in movies. While parties certainly happen, most students are working while taking classes, so most nights are pretty quiet. 

Partying is expensive. You'll spend a lot of money on food and drinks and you'll miss out on sleep, so you may end up spending more on caffeine. You're also risking your academic performance, which in a way, is wasting more money. 

You can party responsibly and you can definitely have fun while you're in college, but keep an eye on your bank account. Know when saying "No thanks, I'm staying home tonight" is a better idea. 

3. Buy Books Secondhand (and Sell Them)

It's no secret that college textbooks are incredibly expensive. Many students spend hundreds of dollars per semester on textbooks, and some even spend hundreds of dollars per class.

Often, professors don't have any control over the textbooks they have to put on their lists (though this isn't always the case).

At the beginning of the term, ask your teacher if all of the books will be necessary. Some may be "nice to have," but supplementary. Others will be crucial because they'll have assignments in them.

Ask if you can buy older versions secondhand. This isn't always possible (sometimes information gets updated, or older versions don't have the right assignments) but sometimes they're almost identical. Your professor should be able to tell you. 

Look for secondhand books online. If the book doesn't have a necessary digital component, there shouldn't be a problem with buying a used version to save money. If it does have an online component, ask your teacher if you'll be using it. 

If you have friends in your major who have taken the class before, see if they're willing to let you borrow the book from them, or buy it for a low price. Many people are open to this because they understand the college textbook struggle. 

At the end of the term, sell the books you don't plan on using again! You won't get a lot of money for them, but at least they're not going to waste. 

4. Avoid Ordering Delivery

As a college student, you don't have a lot of free time (especially if you're also working). Because of this, you may find yourself ordering takeout from time to time. We recommend not making this a habit.

When possible, buy groceries. We'll talk more about how to save money on groceries later, but buying groceries will almost always be more affordable than ordering takeout or eating at a restaurant. 

If you're in a hurry or you're getting yourself a treat, be careful when you order delivery. It's best to go pick up your meal yourself or order from a business that has a built-in delivery service. Don't fall into the Uber Eats or GrubHub trap!

These services are convenient, but they'll cost you a lot of money. A meal that was $10 could turn into $30 easily due to fees, inflated prices, and a tip. Some students rely so much on delivery apps that they even use them for coffee, and that's a huge waste of money. 

Consider getting rid of the apps on your phone if you find yourself tempted to order delivery. It's always better to cook at home or pick your meal up by yourself. 

5. Consider Getting a Side Hustle

Are you already working while you're a college student? If not, it may be time to get a part-time job. On-campus jobs tend to be flexible enough for most students, and if you already live near campus, they're quite convenient.

You can also look for paid internships for extra money. They usually don't pay much, but they will give you career experience and networking opportunities and you'll make grocery money. Those internships also look great on resumes. 

If you do have a job, or if you know you don't have time for an hourly job or internship, look for a side hustle. Typically, that means you'll be doing part-time "freelance" work rather than working under an employer.

Many people drive for rideshare or delivery services, but this isn't always the best move. In a college area it may be profitable, but make sure you consider how much wear and tear it will put on your car. The money may not be worth the cost of gas and repairs. 

There are many other side hustles you can try, however. 

You could tutor younger students (either college students or students at local high schools, middle schools, and elementary schools). If you've taken college-level courses in the subjects you're tutoring, you can make decent money doing this. 

You could do online contract work in your field. Many businesses in different niches need writers, designers, and social media helpers. Most of the time you can do that work from the comfort of your own home. 

You could walk dogs, house-sit, or do a variety of other relatively easy tasks. Get creative! 

6. Save Money on Groceries

You have to eat, but you don't have to spend a lot of money to do so. There are many ways to save money on groceries, and learning to budget doesn't have to be hard.

See if there's a local discount grocery store. They may be bulk stores or they may take items that are close to going out-of-date but are still edible. These stores are fantastic for college students.

Always join free loyalty programs. Often, you only need your phone number or email address to sign up. Then, you'll get customized digital coupons every week that will save you money on things you already buy.

Don't be afraid to buy store-brand items. In most cases, when it comes to simple things, the store-brand items are identical to the name-brand ones, but they're half the price. 

Buy in bulk if you can. Split the costs with your roommates. You'll spend less money on more food. 

Buy frozen and canned fruits and vegetables. Fresh fruits and vegetables are great, but frozen and canned ones are excellent for cooking, they're affordable, and you can keep them for a long time so you don't waste them. 

Learn to cook simple and affordable meals. There are many food blogs dedicated to cheap meals and you can make delicious food without spending a ton of money. 

7. Shop Secondhand

If you're not already shopping secondhand, you're missing out! Shopping secondhand at thrift stores, yard sales, or online can save you a lot of money and you can find some totally unique items.

For basic clothing items, thrift stores are the way to go. You can easily find warm sweatshirts, workout clothes, and comfy t-shirts and tank tops at any thrift store in most sizes. If you have a passion for fashion, you may also be able to find some cuter items as long as you're willing to dig through all of the other things. 

You can also find great furniture at thrift stores for reasonable prices. Don't spend hundreds of dollars furnishing your living room until you check out a thrift store first. You may be throwing money away. 

You should also check local buy & sell groups on Facebook as well as "Buy Nothing" groups. You may be able to get things for a low cost or free from other local people. The best time to look is near the end of the school year, because graduating students are moving away and they often don't want to take all of their belongings with them. 

8. Always Use Your Student Discounts and Resources

You have a student ID card, right? Use it! That student ID card is your ticket to free and discounted items all over town. 

Use it to get into the gym instead of buying a gym membership. Even cheap memberships will cost you over $100 over the course of a year, but you're already paying for your on-campus gym. Use it!

Your ID card may get you free public transportation in town. It's common for it to function as a bus pass or even train pass depending on where you live. If you don't have to drive or pay for an Uber, you'll save money. 

Stores, restaurants, and movie theaters often will offer student discounts. Some advertise them; with others, you have to ask. You should always ask if it means you can save money. 

You're paying a lot to go to college, so if you have the opportunity to get free or discounted things, you should use it! 

9. Take Advantage of Campus Activities

Most college campuses have plenty of on-site activities for students that are either free or very cheap. There may be concerts, comedy shows, games, sports events, and much more. Sometimes they even offer free food for students.

Yes, you could go out and have fun on your own, but you'll be missing out on valuable networking opportunities and you'll be wasting money. The free events are there for you. 

10. Track Your Spending

If you feel like you're spending far more money than you thought, it's time to track your spending. Write down every single purchase you make, even if it's only a stick of gum at the school store. Don't forget to jot down things like subscriptions. 

Do this for an entire month and see how much you've spent. The number may surprise you! 

After you do this, you'll be able to see where you need to cut back.

Try These Saving Tips This Year

Saving money as a college student isn't easy, but these saving tips should help. Mix and match them so you can start getting control over your finances. College is always going to be expensive, but you can ease some of the financial burden with a few changes. 

Are you interested in joining a society of other ambitious and hardworking college students? We'd like to meet you. Join us at the Honor Society today.