5 Tips for Financially Surviving College

5 Tips for Financially Surviving College
  • Opening Intro -

    During your middle and high school years, your parents probably managed most of your money.

    Now that you are heading off to college, however, you will likely be in charge of your own finances.

    You can decide for yourself what you want to purchase and how much to save.


This freedom comes with tremendous responsibility. If you overspend, you could end up broke by the time you graduate. To survive college financially, follow the below suggestions.

1. Create a Budget and Stick to It

A budget should prevent you from spending more money than you have. Start by listing your various sources of income. This could include job earnings, money you receive from your parents, and student loans.

Next, estimate how much money you will need to spend each month on food, toiletries and other essentials. A spreadsheet can help you organize all of this information.

You should then see how much you will have left for fun items such as parties and concerts. If possible, set aside a bit of money for your savings account and for emergencies.

Creating the budget is fairly straightforward. Sticking to it can be more challenging. You may be tempted to blow your budget on impulse purchases. Keep your spreadsheet handy so you can see whether you can really afford that designer outfit or expensive meal.

2. Save Money on Essentials

College life can get expensive. Luckily, there are ways to limit how much you spend on certain items.

New textbooks, in particular, are often quite costly. If possible, do not buy textbooks before the first day of class. The professor may tell you when discussing the syllabus that the textbook is optional.

If your teacher does require you to get a textbook, consider sharing one with a friend or renting one online. Alternatively, you should be able to find used textbooks fairly easily.

Furniture is another item that you should purchase used. After all, you will only need the chairs and desk for a few years. There are plenty of places, including thrift shops, that offer affordable and functional furniture.

Unlike new furniture and books, food is essential. Yet there are healthy and affordable food options available. Use apps to compare prices between stores, and take advantage of coupons.

You should also consider making meal plans each week. This will prevent you from wasting money on foods that you do not end up eating.

3. Be Smart With Credit

A Visa or Mastercard can boost your credit rating, which should help you when you look to make a big purchase such as an apartment or car. However, you need to be smart and not overuse the card. Choose a card with a low limit and limit how often you use it.

This should allow you to pay off the balance every month. Research the different types of credit cards available and look for one that offers a consistently low interest rate.

4. Learn How To Entertain on a Budget

You can still have fun in college without spending a ton of money. You just have to stay within your budget. Consider hanging out at places on campus or staying in for a night instead of constantly hitting the bars and clubs. You should also see which locations near your college offer student discounts.

other related articles of interest:

5. Get a Job

To increase your monthly budget, consider finding a job on campus. Many colleges offer work-study programs that let you make your own hours. You can earn some extra spending capital by stacking library books or calling alumni for donations.

If you cannot find any good jobs through your college, you could always create your own side business. Offer to tutor other students who are struggling academically. You could also help homeowners near campus by shoveling snow or cutting the grass in their yards.

Final Thoughts

It is all too easy to fall into crippling debt during your college years. However, the above steps should help you manage your money responsibly as you enter adulthood.

Image Credit: tips for financially surviving college by twenty20.com

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: SayCampusLife.com 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 Amazon.com. The commission earnings are used to defray our cost of operation.

View our FTC Disclosure for other affiliate information.

Categories: Finance