Whether you’re expecting to attend college in the fall in person or through distance learning, you will need to watch your spending. If you’re learning from home and staying with your parents until your school reopens, now is the perfect time to start saving and develop good habits.
Here are our top tips for saving money in college:
Buy used textbooks
Whether you’re attending classes in-person or virtually, you will need textbooks, and they can be expensive. Save by purchasing used textbooks or renting them.
Use your student discount
You will find there are student discounts available on a wide range of activities and goods from clothing to food.
Always pay your bills
You don’t want to incur fees for late payments so get into the habit of paying your bills on time. With online bill pay, you can pay all of your bills safely, securely, and conveniently.
Resist the splurge
Brew your coffee, rather than going to a café, don’t buy bottled water, instead, use a water bottle and refill it from home, and limit eating out and expensive take-outs. If you do eat out, try to make sure it’s during happy hour.
Create a budget
And stick to it. With My Money Manager, available through our online banking platform, you can set up a budget, create goals, and track your spending.
Shop around
Spend a little extra time searching for the right deal when it comes to insurance, for example. Find a company that works for your budget.
Apply for scholarships
If you missed the boat this year, don’t worry, there’s plenty of time to do your research and apply for scholarships for the following year.
Share cell phone fees
Talk to your parents about adding your cell phone charges to the family plan, rather than opening your own. You could pay your parents the monthly fee, which is much lower than if you went out on your own.
Buy second-hand
Thrifting and vintage clothing are very popular. Why not browse your local thrift stores, Goodwill, and vintage clothing store to see if there’s anything you can pick up for a bargain, from appliances to clothes and kitchenware to furniture?
If you’re looking for a better student loan experience, visit https://www.wbsb.net/personal-banking/student-loans/ for more information.