27 Jan 2017   /   0 comments

How to Save Money in College

Paul

So many students wonder how to save money in college because it can be such a difficult time to set money aside. It’s usually such a hard time to save while in college since most students have no income during that season of life. Many students go to college full time which leaves almost no time for a job. collegeWe hope to provide you with helpful advice and tips for saving money in college whether you are a student or if you are preparing your son or daughter to enter college. We care deeply about our customers and their financial success which is why we have been working hard to expand our website to include informational articles, such as this, that can answer all of your questions regarding topics from financial planning to the lending industry.

Ever since TFC Title Loans opened its doors in 1994, we have worked with thousands upon thousands of customers from all different walks of life. We have gained such extensive experience from working with those customers that we think it would be such a waste to not share that knowledge with you. This company is a strong believer in consumer education. In this particular resource page, we will be addressing the question on how a student can consistently save money while in college. So, if that topic interests you, then please continue reading. Our main goal is to educate you, equip you, and empower you so that you might have a bright financial future.

Learning to save money at a young age is vital to habit development. If you learn a habit like saving young, then you won’t have much of a struggle with the concept later in life when saving for retirement comes to be of tantamount importance. Practice all of the little pieces of advice listed below for budgeting and saving while in school and you will find that, when you graduate, you will be much better off financially than your classmates.

If you stumbled upon this page because you are interested in receiving a title loan from TFC Title Loans, then simply go to our homepage to fill out our online application!

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Saving and Budgeting Tips for College Students

  • Do not buy brand new textbooks if you can avoid it. Textbooks might be the second most expensive part of college, behind classes. The best option would be to see if you can borrow textbooks from classmates, friends, or the library. However, if that isn’t an option then always buy them used off of Amazon or rent them on Chegg.
  • Always apply for any scholarships that are available and reapply every year. Don’t forget outside private scholarships. There are tons of them. Keep an eye on the deadlines to ensure that you don’t miss out on free cash simply because you were careless.
  • Limit eating out as much as possible without depriving yourself totally. If you bought a meal plan at school, then USE IT! Of course, it’s important to have fun out on the town with friends but try to avoid eating at restaurants when you can because it adds up quickly. Stock up your mini fridge instead and you will save so much!
  • Choose your housing and living situation carefully. Usually it is significantly less expensive to live in the dorms than it is to live off campus. If you absolutely must live off campus, then get roommates to cut the cost significantly.
  • Stay focused in your classes and stay on track to graduate on time. Adding an extra year to school will cost a fortune. And if you feel up to it, shaving a year off of the four-year norm would save you tons.
  • Use the campus amenities for things that you would usually spend money on. Take advantage of the free movie screenings and free fitness classes.
  • Invest in a coffee maker so that you will avoid buying Starbucks altogether.
  • Don’t buy a car. This is probably the only time in your life that a car is not really necessary unless you move to Manhattan. Your friends will have cars that you can borrow and the rest of the time just walk, bike, or use public transit.
  • If you had to take out student loans, then start paying off your loan interest now if you can. In-school payments can save you so much money on interest even if you only pay a mere ten dollars a month.
  • Don’t waste money on cable for your apartment or dorm when you can watch all your favorite shows for just a few bucks a month through Netflix or Hulu.
  • Always shop wisely. Ask for student discounts everywhere you go and take advantage of the thrift stores that tend to abound in college towns.

Do you feel ready to build the habit of saving now? You are way ahead in the game if the answer is yes. You won’t regret learning this from a young age. Feel free to give us a call if you have any unanswered questions and we would be happy to answer them. If you are struggling to cover some of the extraneous costs of school like textbook and supply fees, then you might need to consider taking out a title loan. If you are interested in obtaining a title loan from us, then fill out our online application or give us a call today!

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