Courtesy of inflation, the cost of education keeps on increasing every year making life in college more difficult. Despite the ever increasing cost of education, it’s possible for you to save some money as a student. To do this you need to do the following:
Have A Budget
This is the first thing that you need to have. You should put down all the money that you get either from your parents, scholarships or loans. You also need to put down all of your expenses such as transport expenses, food, insurance, rent, utility bills and other bills.
You should subtract the total expenses from your income and from the amount you get you should deposit the amount into your interest-bearing savings account.
Take More Classes
Many schools base their tuition fees on the number of credits hours that you take in a semester. It’s good to note that many colleges don’t require you to pay any more money when you take a given number of credits hours.
For example, some colleges won’t charge you any more money if you take more than 12 credits in a semester; therefore, you can take a few more credit hours and you won’t be required to pay any more money.
To take advantage of this, you should take three or four more credit hours in a semester. Taking four more credits over a period of four years will amount to 32 free credit hours which will save you a lot of money. Taking more classes means that you will graduate early and as a result you will save more money.
Other than taking extra classes, experts recommend that you should attend a local college or take your core classes at a local community college and then transfer your credit score to a more expensive college or university.
Take Advantage of College Discounts
It’s common for students to receive discounts in movie theaters, travel agencies, restaurants, bookstores, clothing and other establishments close to the campus. To save money you should take advantage of these discounts.
This calls for you to regularly check newspapers where the student discounts are usually posted. You should also ask clerks (in your favorite stores) if there are any available student discounts.
Since you are not earning money, you need to be frugal in your spending. This calls for you to look for the cheapest eating joints in your campus. You also need to buy used books instead of new ones.
When it comes to entertainment, you should avoid hanging around friends who seem to have huge allowances. Instead of going to the movie theater, you should go to the library instead. Libraries usually allow student to watch DVDs, CDs, and other forms of entertainment for free and you should take advantage of this.
You should eliminate unnecessary expenses such as alcohol drinking and unnecessary road trips.
Stay At Home
While it’s fun to live with your peers in a dome, you should cut on the rent by staying at home (with your parents) especially if you live near college.