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College is expensive and everyone knows that.
Between paying for tuition, parking, textbooks, extra fees, and everything else, you also have basic living expenses to pay for as well.
All of these costs are either brand new or somewhat new to you most likely as well, so you might not even know how to survive on a budget, let alone a college budget.
Don’t worry, though, surviving on a college budget is possible. Learning how to save money in college is possible!
Related post: How I Paid Off $40,000 In Student Loans In 7 Months
Whether you are trying to survive the whole year off of what you made over the summer or if you have a steady job throughout the school year, there are ways to budget your money and not fall into any extra debt. Plus, you can still enjoy your college years on a low budget as well!
Below are my tips on how to survive on a college budget.
Use your student ID.
Your student ID is good at many places beyond just your college campus. Before you buy anything, I highly recommend seeing if a company offers a student discount.
Your student ID can be used to save money at restaurants, clothing stores, electronics (such as laptops!), at the movies, and more. You may receive a discount, free items, and more all just by flashing your student ID.
After all, you are paying to go to college and you are paying a lot. You might as well reap one benefit of paying all of those high college costs.
Make extra money.
You may need to look into making extra money if you just don’t have enough to survive on. I am a firm believer in making extra money and I think extra time can be wisely spent doing this.
Some online side gigs with flexible schedules include:
- Blogging is how I make a living and just a few years ago I never thought it would be possible. I made over $150,000 last year by blogging and will make more than that in 2015. You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
- Survey companies I recommend include Survey Junkie, American Consumer Opinion, Product Report Card, Pinecone Research, Opinion Outpost, and Harris Poll Online. They’re free to join and free to use! It’s best to sign up for as many as you can because that way you can receive the most surveys and make the most money.
- InboxDollars is an online rewards website I recommend. You can earn cash by taking surveys, playing games, shopping online, searching the web, redeeming coupons, and more. Also, by signing up through my link, you will receive $5.00 for free!
- Swagbucks is something I don’t use as much, but I do earn Amazon gift cards with very little work. Swagbucks is just like using Google to do your online searches, except you get rewarded points called “SB” for the things you do through their website. Then, when you have enough points, you can redeem them for cash, gift cards, and more. You’ll receive a free $5 bonus just for signing up today!
- Check out 75 Ways To Make Extra Money for more ideas.
- Read Best Online Jobs For College Students
Use coupons to stay on a college budget.
Just like with the above, you may want to start using coupons.
By doing so, you can save money on nearly everything. You can find coupons in newspapers, online, and in the mail. They are everywhere so you should have no problem finding them and saving money today.
Related post: How To Live On One Income
Learn how to correctly use a credit card or don’t have one at all.
Many college students fall into credit card debt, but I don’t want you to be one of them.
Many college students will start relying on their credit cards in order to get them through their low college budget, but this can lead to thousands of dollars of credit card debt which will eventually seem impossible to get out of due to significant interest charges that keep building up.
In order to never get into this situation, you should avoid credit cards at all costs if you think you will rely on them too heavily.
You should think long and hard about whether you should have one or not. Just because many others have them doesn’t mean they know what they’re doing! However, if you think you will be good at using them, then there are many advantages of doing so.
Related post: Credit Card Mistakes That Can Lead To Debt
Only take out what you need in student loans.
Many students take out the full amount in student loans that they are approved for even if they only need half.
This is a HUGE mistake. You should only take out what you truly need, as you will need to pay back your student loans one day and you will most likely regret it later.
I know someone who would take out the max amount each semester and buy timeshares, go on expensive vacations, and more. It was a huge waste of money and I’m still not even sure why they thought it was a good idea.
Just think about it – If you take out an extra $2,000 a semester, that means you will most likely take out almost $20,000 over the time period that you are in college.
Do you really want to owe THAT much more in student loans?
Skip having a car.
Most campuses have everything you need in order to survive – food, stores, and jobs. In many cases, you do not need to have a car whatsoever.
By foregoing a car, you may save money on monthly payments, maintenance costs, car insurance, gas, and more.
Related post: Should We Get Rid Of A Car And Just Have One?
Eat out less.
Now, I’m not saying you should stop eating out entirely if you are trying to survive on a college budget. I know how it is to be in college and to want to hang out with everyone. These are your college years after all.
However, you should try to eat in as much as you can, make your own meals, and try to eat out only during happy hours or when food is cheaper, such as during lunch time. Eating out can ruin your college budget!
Have a roommate.
The more people you live with, generally the less you will pay when it comes to rent and utilities. If you are living on your own, then you may want to find roommates so that you can split the costs with them.
This will help you to lower your college budget and you may even find some awesome friends.
Related post: What I Learned Having Roommates
What college budget tips do you have?
The post Learning How To Survive On A College Budget appeared first on Making Sense Of Cents.
More and more are choosing to attend college and work at the same time.
Whether you are working a part-time or a full-time job, it can be tough to balance both. There are many working students in college who are able to manage both, but there are also many who aren’t able to.
If you don’t balance them both correctly, it may lead to stress, lower grades, low-quality work being produced, and more.
No one wants that and I’m sure you don’t either.
Related: 21 Ways You Can Learn How To Save Money In College
This is supposed to be the time of your life where you are growing and changing, not feeling like you are drowning in everything that is going on around you.
There are ways to get around it and manage both successfully at the same time, though.
I took a full course load each and every semester, worked full-time, and took part in extracurricular activities. It was definitely hard and I won’t lie about that. However, sometimes a person doesn’t have a choice and has to do everything at once or maybe you are choosing to multi-task and you are wanting to better manage your time.
Related post: How I Graduated From College In 2.5 Years With 2 Degrees AND Saved $37,500
Whatever your reason may be, below are my tips for working college students. The tips below are what helped save me!
Carefully plan your class and work schedule.
My first tip for working college students is to carefully plan your class and work schedule.
Some students just choose whatever classes are offered. However, it is much wiser to carefully craft your school and work schedule so that everything flows together efficiently with minimal time wasted.
You can do this by researching into what classes are offered when and trying to eliminate any gap that may be in-between each class. Having an hour or two break between each class can quickly add up. Also, if you happen to have time off between classes, then using this time to do your homework and/or study can be a great use of time as well.
Related post: How I’m a Work-Life Balancing Master
Eliminate any time that may be wasted.
There are many time sucks that you may encounter each day. A minute here and a minute there may add up to a few hours wasted each day.
The time you save could be used towards earning more money at your job, studying, socializing, or whatever else it is that you need or want to do. For working college students, every minute is important.
There are many ways to eliminate any time wasters including:
- Cut down on your commute time. If you can find a job near your college campus then you can eliminate a lot of traveling time.
- Prep your meals ahead of time. If you can bulk make your meals instead of individually making each one, you will be able to save a lot of time.
- Be aware of how much time you spend on social media and TV. The average person wastes many, many hours on social media and watching TV. Cutting back on this may save you hours each day without you even realizing it.
Related post: 75 Ways To Make Extra Money
Separate yourself from distractions.
Working college students experience a lot of distractions.
Noise in the background, such as with a TV that is on or a party your roommate may be throwing, can distract you from what you need to be doing. If you are trying to study or do homework then you should try to find a quiet place to get work done.
You may want to close your bedroom door, hide the remote from yourself (trust me, this works!), go to the library, or something else.
Related: 16 Best Online Jobs For College Students
Have a to-do list and a set schedule.
Having a to-do list is extremely helpful for working students in college because you will know exactly what has to be done and by when. You will then have your responsibilities sitting there right in your face so that you will have to face reality.
Plus, I know that when I am stressed it can be easy to forget things, so having a to-do list eliminates any valuable minutes I may waste debating about whether I forgot to do something.
Working students in college need to be realistic.
While one person may be able to work like crazy and attend college at the same time, not everyone can do that.
If your grades are dropping, then you may want to analyze whether you should drop your hours at work or school. What is more important to you at this time and for your future?
With the tips above for working students in college, you’ll be able to rock both your job and your college classes at the same time. Don’t forget to fit in time for fun as well. Good luck!
Are you one of the many working college students out there? Why or why not?
The post How To Balance Working And Going To College appeared first on Making Sense Of Cents.