Creatively managing resources is essential if you want to have more fun with shopping, socializing, and enjoying down time. Just as time management is a huge factor, so is budgeting the bill! You need to juggle resources to pay for the cost of living, books, student loans, and still have money left to kick back and rejuvenate doing something fun.
Shopping wisely, scouting for deals, and taking advantage of special discounts is part of the college lifestyle. Following these 5 tips will ensure that you stretch your college dollars further:
Buy Furniture for Next to Nothing
Furnishing a room or apartment is surprisingly inexpensive when you stick to the basics. Retailers such as Ikea and Target carry a wide inventory of office supplies, bedding, and other basic household items that is targeted for frugal dorm room living.
Furniture such as collapsible desks, detachable shelves, and fold-able tables are typically inexpensive. They are also easy to disassemble and pack in a mid-sized car when it’s time to move. If you’re really low on cash, consider buying second hand furniture from Goodwill. Toward the end of the month, the local listings on Craigslist are full of decent furnishings from people who are moving and are in a rush to sell.
Keep the Fridge Stocked with Healthy and Quick Meals
At the end of the day it’s tempting to eat out or grab something prepared from the deli section. Constantly eating on the go leads to malnutrition and an empty wallet. Create a grocery list that includes staples for breakfast, lunch, and healthy snacking.
Preparing lunch is a cinch if you keep items on hand such as deli meat, wraps, bread, salad greens, cheese, yogurt, fruit cups, and condiments. Never skipbreakfast before you head out the door. Not only is it the most important meal of the day, it’s also a quick and inexpensive meal that will help curb temptation to waste money on junk food later.
Create a Budget
The real money management doesn’t begin until you roll up your sleeves and take a hard look at where the finances are going. Outline the essential bills first. These include primary bills such as boarding, utilities, books, car payments, insurance, essential travel and grocery expenses. The money that is left will need to be responsibly distributed between where it is needed the most.
Making goals to pay off student loans while in college can be a motivating challenge when creating a budget. Naturally, you will want to keep your shopping money to a minimum. Just make sure that it is a realistic plan that you know you will follow to increase your chances of sticking to your budget.
Check Prices Online
Try to get in the habit of checking the internet before making moderate sized purchases. Finding the best deals online will save you time and money. A search engine is all you need to compare prices, find sales, coupons, and nearby store locations.
Within seconds you will be armed with knowledgeable shopping information that can save you a few well-needed bucks. Opting for refurbished electronics such as notebooks, e-readers, and smart phones will save you a bundle as well. Check for student versions whenever you buy software.
Find Free Things to do in Your Free Time
There are plenty of free activities to do that are relaxing and fun. Kicking back at your place and hanging out with friends is all you need to unwind and have a good time. Make some popcorn and pick up a DVD at the neighborhood library for something to watch.
When the indoor life finally becomes tiring, get out for some fresh air at the park, beach, or a museum. The more money you save on regular down time, the more you will have for planning bigger events such as a spring vacation.
It pays to network and share your discoveries with other students to find deals where you didn’t think to look yourself. Regularly check in with the school’s financial advisor to learn about new student discounts and grants as they become available to you.
Do you have any other tips to share with us? Please include them in the comments below!
About the author:
Sani Golriz is a community blogger and staff writer for CollegeFocus. You can find CollegeFocus on Facebook at Facebook.com/collegefocus.
I never had a budget when I was in college. I still managed never to go into debt. It was a little easy back then because I didn’t have nearly as much responsibility.
That is awesome that you were able to stay out of debt. However, it is amazing how many people do get into debt when they are in college. I just read that the average student loan debt for people graduating from college increased to over $26,000! On top of that 35% of students carry a balance on their credit card every month according to CreditCards.com. Perhaps for these people budgeting might be a good way to go
I graduated with savings too. During the last year, my group of 10 friends or so would take turns to host dinners or drinks at their house. We were almost never going out.
I would always find a small job to pay for something I really wanted. I remember taking a tedious phone job because I wanted new shoes!
You can get free furniture, kitchen gear and more stuff on freecycle too.
Freecycle.org looks awesome! I can’t believe I have never heard of it. Thanks for the info!
I’d say this pretty much hits the nail on the head. One thing that catches my attention though is the eating healthy for cheap.
eating healthy has definitley become an increasing awareness lately but if you have ever been to a trader joes or whole food.. healthy snacks are definitely not cheap.
unless i am not looking in the right places.
My go to place for looking for furniture is craigslist. You can score some nice brand new, almost new or rad vintage stuff for free or next to nothing.
I am always on the lookout for free events.. they are my favorite.
I know what you mean, eating healthy CAN be expensive. However, we shop at Sprouts (which I don’t know if they have in SF) and the prices are reasonable. This is where we get a lot of our fresh fruits and veggies. Some things I get at Fry’s like chicken, ground turkey, trash bags, etc. Both stores are really close so it is convenient. I am sure not everyone has this luxury though.
I do like IKEA furniture and we have some nice pieces in our home. Another place that students can watch for good furniture to go on sale is to watch their local newspapers for Estate Sales.
Estate Sales are definitely a good place to get quality furniture for cheap! Great tip!
I cooked quite a bit in graduate school, but not very much as an undergrad. I think that is the best tip on this list as cooking at home will make you feel better and save money.
[...] @ Well Kept Wallet writes 5 Tips for Living a Fun College Lifestyle and Staying out of Debt – Creatively managing resources is essential if you want to have more fun with shopping, [...]
[...] @ Well Kept Wallet writes 5 Tips for Living a Fun College Lifestyle and Staying out of Debt – Creatively managing resources is essential if you want to have more fun with shopping, [...]
[...] @ Well Kept Wallet writes 5 Tips for Living a Fun College Lifestyle and Staying out of Debt – Creatively managing resources is essential if you want to have more fun with shopping, [...]
[...] @ Well Kept Wallet writes 5 Tips for Living a Fun College Lifestyle and Staying out of Debt – Creatively managing resources is essential if you want to have more fun with shopping, [...]
I never had a budget in University but I was frugal with my money as I wanted to buy a flat which I ended up doing. I did however always cook at home and I love photography and it’s cheap to travel round out the UK way so I did plenty of travelling for cheap. If I could go back, I would certainly budget. Great Post. MR.CBB
[...] @ Well Kept Wallet writes 5 Tips for Living a Fun College Lifestyle and Staying out of Debt – Creatively managing resources is essential if you want to have more fun with shopping, [...]
[...] @ Well Kept Wallet writes 5 Tips for Living a Fun College Lifestyle and Staying out of Debt – Creatively managing resources is essential if you want to have more fun with shopping, [...]
[...] Kept Wallet writes 5 Tips for Living a Fun College Lifestyle and Staying out of Debt – Creatively managing resources is essential if you want to have more fun with shopping, [...]
[...] @ Well Kept Wallet writes 5 Tips for Living a Fun College Lifestyle and Staying out of Debt – Creatively managing resources is essential if you want to have more fun with shopping, [...]
When I was in college I worked a part time job each year. That was about the only way to help me stay out of debt. Student loans were a must for the cost of education but I couldn’t believe the amount of students who were taking out loans for unnecessary items like furniture, computers, clothes, cell phones, etc. I used my part-time job money to pay for my groceries and the very little gas money I needed for getting around.
As far as spending and entertainment are concerned I hardly had to spend any money this way. Almost every campus provides anything, everything and so much more for students in regards to entertainment that it is incredible the resources we had. There is no excuse to not take advantage of these. There are free clubs, film showings, intramural sports, workout facilities, sporting events, the libraries, computer labs and just general good times with friends.
I work so hard, it isn’t fair the amount of money college is. I’ve always saved my money it’s how I was raised and I’ve worked since I was 13 and now I’m 20 and in my second year of school and it hurts to see all that money earned be gone so quickly after years of being responsible. I don’t eat out, or buy extra things. (hard to do as a girl sometimes). But I just wish things were a bit easier, not complaining, I know their could be worse. Just wish my years of working just to get to college could stretch further than a semester…with books, rent, bills, its just not fair..It doesn’t even feel like I’ve accomplished anything. All for general credits.. not even my degree yet. I feel hopeless.
Hi Bridget, I know how you feel. I worked full time and went to college at the same time and it just seemed like money was always gone. Hang in there. Keep working hard and if you continue to live below your means, I have know doubt that you will start to see progress. If you have any financial questions, feel free to send them my way; I would be glad to help out any way that I can.