Apr 27, 2021
5 Clever Ways to Save Extreme Money in College while Still Having Fun
Growing up in a large household, I was taught at a very young age to be frugal. As I got older, the concept of saving money and being smart when spending became second nature. When I began college, I was surprised to see how recklessly many college students spent their money. Even if you didn’t want to spend money, the college atmosphere is built to lure you into endlessly spending your money — whether it was on food, books or events.
Most colleges in America are strategically designed with student centers or areas lined with restaurants, stores, book shops, convenience stores and more. Prices are generally inflated, but due to convenience, these stores will continue to get business. To make matters worse, colleges are generally surrounded with an immense number of restaurants, fast food joints, bars and other shops gearing their marketing toward college students. While it is a part of the experience, it can leave you in a devastating hole of debt. On average, surveys show college students can spend between $1400 to $2100 monthly on non-tuition or living related costs. This equates up to $25,000 in expenses annually.
The numbers can be daunting but there is definitely a way to save money while still having fun and immersing yourself in the college experience! After I completed my Bachelors degree, I went on to complete a four year doctorate program. Here are five ways that I made the most of my college experience while on a budget, split by category:
Food: Make use of every deal and promotion on food. This includes app-exclusive deals, seasonal promotions and coupons on GrubHub, UberEats, Postmates etc., Groupon deals and e-mail sign up specials.
If you are willing to spend a little extra time, you can eat out for a fraction of the price — sometimes even free! My biggest tip is to first install the apps for any chain restaurants or fast foods you enjoy. These apps are filled with promo codes and deals. Many apps offer a reward or point system to get a free drink or item when you reach a certain tier. Similarly, signing up for email subscriptions with restaurants has several perks such as a free birthday item or coupon codes. Another awesome way to score great deals on food and drinks is through Groupon. Groupon allows you to enroll in the student discount program which applies 25% off on every local deal! I’ve been able to dine at some high-end restaurants and try out local gems through Groupon. Lastly, take advantage of promotions and deals through UberEats, Postmates and Grubhub — specifically the pick up deals. Delivery is convenient but costly. These apps often have deals such as 50% off pickup, $15 off $20 etc. While these tips do require extra steps before eating out, over the course of a year it could save you thousands.
Living: Live at home or live off-campus with roommates. Cut down on excess living costs like cable, subscription services, new furniture and technology.
Hear me out — I know it may be an unpopular opinion but if you truly are struggling financially and have a very narrow budget, living at home can save you over $20,000 depending on your area. It can also include perks like home-cooked meals and someone to do your laundry! On the flip side, living on your own either on campus or nearby can be very appealing. If you go with this option, I urge all students to opt to live off-campus. Most colleges have homes and apartments very close by to the school that are occupied by mostly students. You can still get the experience but without the hefty price tag. Renting a home with 2–3 roommates was the most budget friendly option I found. However, if you chose to live alone you can still save money in several ways. Firstly, do not pay for cable. Most people use streaming services now such as Netflix or Hulu. Some cell phone providers will give you a free Netflix or Hulu subscription on certain phone plans. I got Netflix for free through T-Mobile. Likewise, try to trim down on any subscription services while you are a student. They can be tempting but result in a hidden monthly cost that you may not truly need. Another big mistake I saw college students make is purchasing new furniture, TV’s and technology. Utilize apps like Facebook MartketPlace or OfferUp and you can find furniture, TV’s, computers, speaker systems and more for an incredible price. Even better — you can sell it when you’re done with college and often make at least the cost half back.
Clothing: Check stores like Ross, Marshall’s and TJ Maxx before buying clothes at name brand clothing stores. Utilize online shopping as much as possible and ideally at stores with free shipping and free/in-store return options.
I vividly recall how fast fashion trends spread in college. It was tempting to go to the nearest mall or stores to stay on trend. A great way to save money on quality items that are still trendy is going to markdown stores like Ross, Marshall’s and TJ Maxx. I also found that online prices almost always beat in store prices. There are also tons of promotional codes when shopping online to save even more. My biggest tip is signing up on the Unidays website. It provides student discount codes for dozens of websites. Lastly, I always checked for free shipping deals and made sure I was able to do free returns (online or in-store), so that I wasn’t stuck with clothing that I didn’t really love.
Leisure: Always search for free local events. Groupon is also a great place to get package deals for group outings.
Every Friday, my friends and I would search up local free events in our city. We made some amazing memories and explored our town in ways we never would have otherwise. We attended free concerts, festivals, movie nights and cultural events. When we wanted to do an organized activity like bowling, laser tag or an escape room, Groupon always has excellent deals on these group activities (don’t forget to enroll in the Groupon Student Discount program!).
College Books and Supplies: Never buy new. Always buy used.
This last tip goes hand in hand with my furniture and technology tip. Never pay full price for college textbooks, lab coats or other supplies! Many colleges have Facebook groups dedicated to selling textbooks and college supplies. If you can’t find what you’re looking for, you can post on the page with a list of the textbooks you are in need of and people will reach out to you. Textbooks can really add up in cost so the savings can be enormous if you buy used.
Even if you use just one of these tips, it feels good to be able to save money!
