This is a guest post by Jon Fritz from Simplified Life Insurance. If you’re interested in submitting a personal finance guest post visit this page.
According to globalpost.com, Bachelor’s degree graduates earn over $20,000 more per year than people who have only earned a high school diploma. While these future earnings do make college very appealing, those future dollars do nothing to help students who need help paying for college now. If you are working towards earning your college degree, but you are unsure how you will afford it, here are ten ways you can save money as a college student.
Housing can also be a major college expensive—unless you take steps to reduce it. Commute from home, rent a modest apartment, or get a roommate or three. Save the nice house for after you have a degree and a job.
Don’t try to live on ramen noodles and don’t blow all of your money on fast food either. Get the right meal plan so you can eat a variety of healthy foods even when you don’t have time to cook. Choose a two meal a day plan if you usually skip breakfast or if you are never on campus in the evenings.
College textbooks can be very pricey; find ways to get them for less. Share books with classmates, borrow books from the library or buy them used online. Sell any books you do buy back at the end of the semester. You may even consider skipping buying some books altogether.
If you live on a small campus, you may not need a car at all. Simply walk to your classes and take the bus or find a ride with friends when you need to head off-campus for other activities. This will save you gas, insurance, parking fees and maintenance, not to mention the cost of buying a car.
[We’re halfway done–if you want even more, here’s another 60 money saving tips for students!]
If your utilities are not included in the cost of your room and board or rent, find ways to lower them. Many utilities companies will offer payment plans that allow you to spread your payments out so they are more even each month. Be sure to turn off the lights and water when you are not using them as well.
If you got into the habit of shopping frequently or going to sporting events when you still lived at home with an allowance and no expenses, college is a great time to find a cheaper hobby. Dollar movies, bowling and even trips to Walmart are all ways to have fun on a tight budget.
8. Student Loans
Student loans can be a great blessing when you need them, but do your best to take out the smallest loans amounts that you can. Otherwise, you will spend the next several years making large payments on your loan amounts with interest. Also, never use your loan money for anything other than your college expenses.
College classes are expensive. Make sure that you spend your class money wisely by showing up for class, studying and getting good grades. If you drop out or fail a class, you only waste your own money and time.
Even if you are young, healthy and carefree, it is important that you have insurance coverage. Check if your school has coverage you can sign up for or see if you can remain on your parents’ insurance while you are in college.
Author bio: Jon Fritz is an insurance agent that specializes in selling non-med term life products. You can find him blogging about life insurance at SimplifiedIssueLifeInsurance.com.