College is very expensive. Trust me. I was in university for 8 years! I will never forget the days when I sadly looked at the lack of funds in my bank account. Or the times when I attended free concerts and received free swag on campus. Creative ways to save money in college are essential for setting yourself up for financial success!
Those days are both fun and stressful. I hope you find these creative ways to save money in college helpful! Saving money is not easy when you’re working part-time, studying, and maintaining a social life.
I’ve put together this list of creative ways to save money in college so you have some ideas to make each dollar stretch a little further.
Here are some related articles to help you save even more:
- The Best Money Saving Apps for Shopping
- 21 Essential Tips to Save Money Every Month
- 14 Life-Changing Tips Showing you How to Make a Savings Plan
- 20 Easy Ways to Save Money On Your Groceries
17 Creative Ways to Save Money In College
1. Money-Saving Apps
Ok, so I already have an article all about money-saving apps, but I get really excited about this topic because some of these apps didn’t exist when I was in college. A couple of notable apps/browser extensions I want to point out are SwagBucks, CamelCamelCamel, and Honey.
Swagbucks (SB) is a really easy way to earn gift cards by filling out online surveys, downloading certain apps/games, and submitting your receipts. The SB’s add up really fast and you’ll have plenty of gift cards in no time!
CamelCamelCamel is a browser extension that shows you the price history of items that you are interested in buying. You can also set up pricing alerts so you are notified when the price of an item drops. This is a really simple way to monitor for the best prices on Amazon.
Honey is also a browser extension that will search for coupons and discount codes when you are ready to checkout. I saved $3.50 on a recent purchase just by checking this app. It’s really easy to use!
Actually, I definitely used Honey while I was in college and I still use it to this day!
2. House Hacking (Apartment Hacking?)
House hacking is the term used to describe someone who buys a house and rents out the other rooms. If you can house hack, you will save tons of money every month because in many cases, your tenants will pay your mortgage for you.
But what if you can’t afford a house? I definitely couldn’t afford a house when I was in college.
If you can’t buy your own house, consider apartment hacking. Essentially, you rent an apartment or large house and fill it with roommates. Some creative people are able to make money from the rooms they rent out. This works best if you are comfortable setting up the living room or office space as your own bedroom. Then, rent out the remaining bedrooms.
However, be careful with apartment hacking. Some landlords need to know about everyone that lives in a unit and may limit how many people can live there.
3. Consignment Shopping
If you have gently worn clothes that you no longer wear, consider selling them to a consignment shop! Many shops will pay you money for your old clothes.
When I was in college, I sold many items to consignment shops and spent the earnings on their gently used clothes. This a great strategy to update your wardrobe without spending very much money!
4. Cell Phone Plans
There are plenty of ways to save money on your cellphone plan. One easy way to save money is to find a group of friends, sign up for a family plan, then split the cost. Visible’s Party Pay runs on Verizon’s network and only costs $25/month for individuals when you sign up as a group. You don’t need to be a family to sign up for this service.
There are other cell phone companies out there too, such as Tello or Mint Mobile that are much cheaper than traditional plans through large mobile companies.
5. Intermittent Fasting
You might be wondering why I am throwing nutrition advice into a post about saving money, but trust me, it works!
I personally started intermittent fasting about 2 years ago. This method of eating has helped me lose weight and snack less. When you snack less, you save money on snacks!
Intermittent fasting is a really simple method to eat less food. However, check-in with your doctor before adopting this strategy.
6. No Credit Card Spending
I remember walking through Red Square during the first week of every quarter. There were always so many credit card companies handing out free pens and sunglasses to students. Free swag is always welcome in college, but don’t be fooled!
Those companies are targeting college students because they know you don’t have money and may not be the best steward of your finances (yet). I know it’s tempting to sign up and accumulate lots of credit card debt as you buy textbooks or food, but please don’t sign up for those cards.
Instead, use your debit card or cash as you make purchases while you’re in college. You have so many other things to worry about outside of credit card debt. Please (I’m begging you), don’t tempt yourself by signing up for a shiny new rewards card.
Credit cards are an excellent tool, but in college, simplify your finances by skipping them. If your parents helped you get one, limit your use of that card with the tips in this article. 😀
7. Haircuts by Stylists in Training
I exclusively received haircuts from my local cosmetology school. The prices were so affordable on my budget and there is always an experienced teacher who will correct mistakes the student may make.
It’s worth trying at least once. You may find that you really enjoy the experience of getting a discount haircut.
8. Potlucks (and other parties where everyone brings food)
Make an entree and have your friends bring the sides! This is an easy way to have a balanced meal and spend time with your friends! You can also try fun things like pasta or taco night, where everyone brings ingredients and cooks together.
I had so much cooking with my friends in college. I encourage you all to try it. Let me know what you make!
9. Slow-Cooker Meals
This is a really cheap and time-saving way to eat during college. Check out BudgetBytes for a list of delicious and easy slow cooker meals that will save you money and time! Nothing is better than coming home from class to a savory and warm meal.
You can meal prep the left overs and eat them throughout the week to save money instead of eating out.
10. DIY Car Repairs
If you’re fortunate enough to have a car during college, I encourage you to learn how to do simple things like changing oil or tires. These things are really easy to do and will save you HUNDREDS of dollars.
I never thought I’d be successful doing my own car repairs, but seriously, if I can do it, anyone can!
11. Eat Less Meat
Meat is expensive, especially when you eat a lot of it! If possible, cut down your meat consumption. Maybe you can have a light lunch and a heavy dinner to cut down on grocery costs.
For example, I often ate a banana for breakfast, left overs for lunch, and a home cooked meal for dinner. Lunch and dinner often had some type of meat based protein, but breakfast rarely did
If you want to save money on groceries, check out this article.
12. Go to Free Events
College-based events are often free or low-cost ($5-10 max). I encourage you to go to as many of these events as possible (especially the free ones). They are a really good way to unwind after exams and spend time with your friends.
13. Volunteer for Large Events
There is a music festival that happens every Labor Day weekend in my city. My friends and I frequently volunteered to help set up the venue. In exchange for our help, we received free passes to the event!
Many museums also offer free passes to volunteers and volunteering is something you can put on your resume! Search your local events for volunteer opportunities! They are very fun and will save you money.
14. 30 Day Rule
Is there something you want to buy? Like a pair of shoes, or a new laptop? Don’t impulse buy the item! Instead, wait 30 days. If you still want the item, go ahead and buy it! In many cases, you will realize that you don’t really want or need it.
15. Make Your Own Body Scrubs
Throughout college, I was obsessed with DIY body scrubs. I love the feeling of soft legs! A weekly pampering is essential when you’re stressed from studying and lack of sleep. Take some time to make a really simple scrub (I made them out of olive oil and sugar). You can add soothing scents to your scrubs if you’d like!
16. Hang Your Clothes to Dry Them
This tip will lead to saving money in two ways. Let me know if you try this out!
- You will save money on your electricity/laundry bill. If you aren’t using the drier, you don’t have to pay for it! XD
- Your clothes will last longer. To this day, I still hang dry most of my clothes, especially those made with elastic. I learned that the heat from the drier melts the elastic and shortens the lifespan of many clothing items. My clothes last for years because I don’t put them into an aggressively hot drier.
17. Forget Your Wallet
Do you really need that ice cream bar on your way home from class? Sometimes, you just need to leave your wallet at home. There is a lot of temptation between the lecture hall and your apartment or dorm room. Leaving your wallet at home can help you avoid buying some of these unnecessary things.
Well, there you have it! My creative ways to save money in college! This article brought back many memories of my time in college. It’s a fun and stressful time!! Saving money is simply a way of life for many college students. If you enjoy any of these tips please let me know! I’d like to know what works for you while you’re in college. Good Luck!