How Can College Students Save Money?
College students are always on the lookout for ways to save money. The more you can save as a college student, the better! At the same time, it’s hard to know where to start. So here are some tips and tricks you must’ve learned over the years that have helped you save money.
Get a Student Bank Account
If you’re a college student and have been struggling to find ways to save money, then they have a solution for you! To open a student bank account online is one of the best things that any college student can do in order to ensure financial security. Student bank accounts are free, which means that they won’t cost you anything.
Student bank accounts also come with no monthly fees or overdraft charges, so there will be no hidden costs associated with these types of accounts! To open up your own student account, just go online and fill out an application form on one of the many different websites available today.
Once this has been completed successfully by entering all the required information into their system correctly then someone from their office should call back within 24 hours (sometimes even less) so they can verify everything else before they send over an activation code via email which allows access into opening up your new account!
SoFi advisors state, “Book your time with a career coach or meet with their financial planners for help.”
Do not get an overdraft
Using an overdraft is a common way for college students to get themselves into financial trouble. But it’s also one of the easiest ways to avoid getting into that kind of trouble. An overdraft occurs when you spend more than you have in your account, and it means that your bank will pay off the balance on purchases with money from your savings or line of credit.
The problem with these types of accounts is that they charge interest on the money spent and charged fees for every transaction made without enough funds available in your account. The best way to avoid them is by making sure that you always have enough money before making any purchases (or at least having a plan in place if something unexpected comes up).
Get a part-time job
Having a part-time job can help you pay for college, textbooks and even gas.
If you want to earn money and gain experience simultaneously, try finding a job that offers both. For example, if you’re interested in working at a local coffee shop after school or on weekends but also want to be able to afford books each semester, consider applying as an assistant manager or shift supervisor instead of just a barista.
This way, your boss will be more likely to give you flexible hours so that they don’t have to pay someone else overtime hours while they train you on the ropes (and eventually offload some responsibilities).
Coupons can be found online, in newspapers, magazines, and stores. Coupons are available at grocery stores, drugstores etc. While there will always be some things that you just don’t need to buy (like a coupon for a brand of cereal you wouldn’t eat anyway), these offers will help keep your bank account from going into overdraft mode when things get tight at the end of the month.