Thursday , 23 February 2017
How to Stretch Your Finances in College
graduation cap and cash roll, closeup

How to Stretch Your Finances in College

Being a college student at UCLA requires great discipline – to get to class on time, study hard and save money. The last thing you need to worry about during your studies at NEC Online is about paying for expenses. This is why it’s so important to establish a budget in college. Not only will it make college life simpler, but it will also help set the foundation for your financial future. If you can learn how to save and budget in college, then it will be easy to do once you’re out in the real world. But how on earth can you do this when you have such a tight student budget?

Here are a few ideas to stretch your finances in college.

Opt for Used Textbooks

Student spend thousands on textbooks throughout their college career. You can minimize this expense by ditching the college bookstore and going to a shop that sells used textbooks. You can sometimes find these locally, but if not, you can always head online. Then once you’re done with them, you can sell them back, which increases your savings even more.

Become a Thrifty Shopper

Who said like-new isn’t as good as new? If you can find clothes, shoes and accessories that are in good condition, why not buy them at a marked-down price? You can still look good in college without spending tons of money clothes. You should shop at thrift stores and consignment shops instead of department stores. You can sometimes find name brand items at cheap prices. And if you don’t have these options, you can also shop for non-name brand items.

Graduate as Quickly as Possible

Tuition, housing, food and other fees can quickly add up in college. It’s best to try and graduate within the four-year time frame, so you don’t have to continue dishing out money for these expenses. If possible, you can try graduating in three years. You can talk to your student advisor to see how this can be possible. This should be discussed during freshman year, so you can take the proper steps to graduate earlier.

Share an Apartment

If you’re not going to be living on campus, you should opt to roommate with buddies or other college students. This will help make rent and utilities more affordable. If you eat similar foods, you all can pitch in for groceries as well.

Stick to Your Budget

You need to organize your monthly spending habits, so you know exactly how much you have leftover each month. If nothing, then you need to re-prioritize your expenses. The budget you create should enable you to get everything you need, and hopefully you will have something to put away into a piggy bank each month.

Get Rid of Cable

Most millennials today have already ditched the concept of buying cable television. However, if you still have it, consider letting it go for cheaper options like Netflix or Amazon Video. You can save hundreds of dollars each year, if not thousands.

About Zenobia Spaulding

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