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“College Savings Advice & Tips On How To Get A Low-
Ten Tips for Saving Money in College
Being out on your own for the first time is an exciting time and most college students
will admit a time for making some mistakes. Avoid costly financial mistakes and learn
how to save money in college with these tips.
Join a Good Bank
Many banks around campuses cater to a student's lifestyle with free
savings and checking accounts. Find a bank that waives ATM fees if you use their
machines and watch out for hidden fees or charges on any account you open.
Skip the Credit Cards
Credit card companies love to target fresh college students
with tempting offers. Skip the credit cards and opt for a debit card. Consider having
a back up bank account in case of any accidental overdrafts, overdraft fees are just
another way of lighting a match to your money.
Avoid Accruing New Debt
Try to avoid any non-
Pay Bills on Time
This may seem like common sense, but with a busy college life, it
is easy to lose track of which bill is due and when. Start a budgeting calendar with
bill due dates written on each month or devise your own system for staying organized
and on time with your payments. Late fees quickly add up as well.
Buy Used
You can find just about anything you could want in excellent used condition.
From dorm room furniture to a car to your textbooks and clothes, buying used can
save you a significant amount of money.
Shop Savvy
Be a savvy shopper by purchasing your everyday items when they are on sale,
but do not buy items just because they are on sale if you do not need them. Buy store
brand instead of name brands and use coupons when you can. Never go grocery shopping
hungry and consider buying items like coffee to make on your own rather than paying
top dollar at the campus coffee cafe.
Go Car Free
If you live and work within a reasonable distance, consider going without
a car. Cars are expensive to maintain and the price of gas always seems to be on
the rise. Many schools have free shuttle services around campus that you can use
during cold winter months and riding a bike is a quick, easy and free way to get
where you need to go.
Consolidate Student Loans
Some student loans will penalize you for paying early, but
if you have multiple student loans with an option of paying early, you may want to
consider a program to consolidate student loans. This will allow you to pay your
student loans off as you are going to school and pay one monthly payment rather than
multiple payments.
Eat Healthy
It is possible to eat a healthy diet on a shoestring budget. Eating junk
foods is bad for your body which can end up causing you to be sick more often and
racking up doctor's bills. Take care of yourself and avoid missing days at work and
classes.
Apply for Grants and Scholarships
There are countless scholarships and grants available
for college students. Start local and work your way up, grants and scholarships do
not have to be paid back.