Saving Money As a College Student

Saving Money As a College Student
  • Opening Intro -

    College students are well-known for being broke.

    The life of a college student consists of bills coming from left and right, which can make saving up difficult.


Many young adults want to have a decent savings account by the time they graduate, but that can seem impossible when you’re paying for tuition. So how do you pay everything off and save up at the same time?

Minimize Your Tuition

Perhaps the best thing you can do to increase your savings while you’re in college is lower your tuition. Your tuition tends to be where most of your money goes, so by minimizing the amount you need to spend there, more money will go back into your pocket.

Before your school year even starts, you should look for scholarships and grant opportunities that you can apply to your bill. These are often easy to apply for and could save you thousands per semester on tuition and board costs.

Another way you can save money is by getting a loan. Though "student loans" have become a bit of a dirty word, using them responsibly can actually benefit you. If you choose to get a loan, look for one with a low interest rate that won’t accumulate too quickly.

Many loan companies won’t begin charging you until after you graduate, so you’ll have time to save up.

By finding a loan that benefits you, you’ll build credit and have enough time to accumulate savings without having to worry about college expenses. The first step you take in your savings plan should be finding tuition discounts.

Look for Discounts

Once your tuition is sorted out, the next biggest expenses are usually housing and food. While these are both fairly pricey, you can reduce that cost with a little planning.

For housing, living either with a roommate in an apartment or on the campus of your college can save you hundreds on housing. While this may not be the most fun option, it’ll put more money in your pocket and limit your financial stress.

When it comes to food, buying in bulk and avoiding name brands can save you cash on your grocery budget each week. Little changes like these can save you hundreds of dollars yearly and allow you to build your savings.

Aside from lowering your tuition, your student status also gets you a discount in many other places. Many businesses offer a discount to anyone who holds a student ID card, so keep yours with you.

This discount could save you money on food, coffee, and even new clothes. On top of using your ID for discounts, look into cashback and rewards programs at the stores you already shop at.

Saving money on things you already buy will give you the ability to stash the extras in a savings account every month. You don’t need to do a complete overhaul of your life to save up, rather just make little daily changes.

Limit Your Spending

Finally, one of the most important things you can do to save money as a college student is limit your spending. If you’re on a student loan program or receiving financial aid, it can be tempting to go out and spend the extra cash on things you want or even don’t necessarily need. While you shouldn’t put your whole life on hold to save, you should limit the number of unnecessary purchases you make to save money.

other related articles of interest:

Another way that many college students get themselves in trouble is with credit cards. These make it easy to ignore the actual cost of the things you’re buying, but if you aren’t careful the interest can pile up and leave you in debt.

If you’re going to use a credit card for a purchase, make sure you have the money for it so you can pay the card off. Being smart with your spending will keep your savings growing steadily all through college.

All in all, saving up while you’re in college isn’t impossible. By making small, smart choices with your money, you can keep your account growing throughout your college years.

Image Credit: saving money as a college student by

end of post … please share it!


end of post idea


Helpful article? Leave us a quick comment below.
And please share this article within your social networks.

facebook linkedin pinterest

Amazon Affiliate Disclosure: is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to The commission earnings are used to defray our cost of operation.

View our FTC Disclosure for other affiliate information.

Categories: Money Tips