The average student loan debt in the US is $32,731 and that figure is only increasing for younger generations. Sooner or later, those young adults need to get to grips with their personal finances and learn how to be savvy with saving.
The smart student should already know that there are lots of ways to save and make some cash while still at school. These methods will ensure you not only have money to spend on experiences at college but also after you’ve graduated.
Need some more ideas to help your student loans stretch further? Read on for some top saving tips!
Sell and Use Second-Hand Books
Whether your school curriculum is math or literature heavy, it’s inevitable you will need a lot of books for college. And some of those books are hundreds of dollars!
Save money by always buying second-hand books from older students that don’t need them anymore. And there are tons of places to donate books for cash when you’re done with them.
Always Ask for a Student Discount
If you were a smart student, you would carry your student ID with you at all times. Why? Because so many businesses, stores, and entertainment venues offer student discounts.
All types of colleges offer cut prices for students at their campus stores too. But they might not advertise it very well. Before you part with your money, always ask if they do a discount because the worst thing they will say is “no.”
Take a Flexible Tutoring Gig
You don’t want a demanding job that doesn’t allow you to study or take time off during finals. But you can put those studying skills to good use and work part-time in the education industry.
Sign up for a tutoring platform where you can help high schoolers prepare for a subject that you are an expert in. You can arrange your lessons around your schedule.
Or you can teach English as a second or foreign language (TESL or TEFL). Sign up to an online platform like VIPKid or PALFish and teach a language you know very well to non-native speakers. If you struggle to find work after college this is something you could turn into a full-time job.
Buy Food in Bulk and Cook at Home
One of the biggest expenses for college students is food. If you dine out or order take-out all the time then you’ll soon squander your scholarship money.
Instead, get a Costco card and buy as much food in bulk as you can. Batch-cook meals on a Sunday so you have plenty of meals in your freezer to get you through those all-nighters.
Be a Smart Student and Bank More Bucks
You want to have a fun time in college but not at the cost of getting into more debt. Be a smart student and follow these tips to ensure your bank balance stays in the black.
Love the idea of being an entrepreneur? You don’t have to wait until after you’ve graduated. Browse our business articles for lots of ideas!