College can be expensive. With tuition being high to begin with, students will need some saving techniques for the present and the future. Learning to budget and set goals can help prepare for the “real world”.
Here are some tips on saving money:
- Part time jobs can help out on expenses.
- Purchase used books, cheaper books online (check out www.gettextbooks.com to compare prices) or even an electronic reader to help with the cost of books.
- Substitute “store brands” for the expensive brand name foods.
- Split bills with roommates.
- Purchase groceries or consider a meal plan if you don’t have a kitchen instead of eating out for every meal.
- Forgo purchasing expensive items – cars, houses, gadgets, etc – while in college and save up for them after graduating when you have that “good job”.
- If not going away to college live at home with parents.
Parents can help by teaching children the concept of finance and budgeting, so that when they go off to college they can have an idea of what life is like and about. Teach them how to ask the important questions – “Is this really worth the money?” and “How can I make this worth the investment?”.