For many college students, the reality of living away from home for the first time can hit hard once their student loans run dry. The party fever doesn´t come cheap, and without parental guidance, many students can find themselves with empty pockets.
Luckily, there is a ton of ways to cut costs and even make money while at college.
9 Ways to Save More Money at College
Here are some of the best ways to avoid going broke during your student years.
1. Get a Roommate
You might have to put up with some annoying habits, but having a roommate is a wise move.
By teaming up to get a house with others, shopping for groceries together, and cooking in bulk to make leftovers last several days, you can cut your cost of living by 50% or more.
Looking for a place off-campus will typically be cheaper.
2. Ditch Your Car
While living off campus without a car might be inconvenient, the reality is getting rid of your car will save you thousands. Plus, walking more will be better for your health.
If you really need a car, try renting from companies like Turo.
3. Look for Freebies
Financially-savvy students are the masters of cheap living. There are always offers on or around campus, like: happy hours, discounted meals, and coupons.
Look out for offers so you can reduce spending.
4. Compare Private Student Loans
The thought of plunging into debt with a loan may sound risky, but private student loans can offer students a degree of freedom.
Banks are willing to give them out on your future potential, as long as you have good credit history. Compare different loans to find the lowest rates.
5. Work for Uber
This is a great option for those who don´t want to give up their car. Most college students have a flexible class schedule – fill up your free time by making money driving for Uber.
6. Sell Stuff on EBay
College students can get rid of their clutter and make a few bucks at the same time by flipping stuff on eBay.
Whether it´s old books, clothes or computer games, you can turn unused items into money in the bank overnight.
7. Try Freelancing
For many students, the digital era is alive with opportunity to hone their craft. Freelancing platforms like Upwork offer paid gigs for all sorts of projects, this is perfect for: writers, designers, programmers, and more.
8. Invest in Yourself
While gambling is not to be encouraged, you can always bet on yourself with Ultrinsic. This company allows students to bet on their academic performance, motivating themselves to study so they can earn money off their own good grades.
9. Be a Human Guinea Pig
This should be a last resort. But if times are hard and you´re willing to gamble with your health for some money, medical trials are an option. Do your research first to make sure you know what you’re volunteering for.
Be Smart to Save More
When it comes to taking control of your spending, college students need to be proactive. Setting up a budget or using apps to track their finances is a solid way to stay on track.