How a College Student Can Save Money

With summer approaching, college students across the country have increased their preparations for the upcoming school year. Plenty of school-going sales. Usually, clever and economical people would have used them to save a few hundred dollars in a traditional student’s mid-20s. If they are smart, they will buy a refund with a credit or debit card. (See the Best Student Credit Cards and Refunds for 2019.)

Beyond sales and rewards, there are other smart ways to save college students without compromising their college experience. Here are 11 ways to save big for college students (and their parents).


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    Choose the Cheapest Meal Plan

Families can’t do much about the unlimited diet plans that many college freshmen have to take. Even if you are a light eater, these programs can increase the cost of college. But generally, within the sophomore year, you have more flexibility — unless you are a student at Princeton, sophomores are required to receive an unlimited $ 7,060 meal plan).

According to the Bureau of Labor Statistics, married couples spent an average of 7 8,717 meals in 2017, while single people spent, on average, 5,387.

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However, most seniors, juniors and sophomores (and even some freshmen) have the opportunity to take on a very limited meal plan. , depends on the University’s meal plan offerings. For example, Princeton has three food program options (for upper classes), Rutgers, a state university, and five options for residential students.

A meal plan that covers a lot of days during the school year can be very meaningful when the student does not have the cooking skills or the time to prepare the meal due to the required class schedule. This statement comes from personal experience; As a residential student, I never cook a meal at any time, and the thought never crossed my mind to do so. In any case, I was a student at Rutgers-New Brunswick and paid less than a Princeton.

So a meal plan made sense to me. However, a student who has the option to cook continuously, a student with a schedule and a schedule, or someone who lives near the home to load up the rest from mom or dad (depending on who cooks) can cut their meal plan.

A student living on campus may have more opportunities to shop for themselves. However, a student living in a dorm room with limited kitchen access may have to rely on a meal plan.

  1. Spend less on Meals

When engaging in a reduced diet plan, it may make sense to cut back on meals, or at least eat less. There is nothing romantic about a “starving student” who is young and wonderfully broken. Instead, take college as an opportunity to better your budget for social life. It may be easier to develop this ability in college when your peers are built for a lot more money than when you graduate and some of your friends earn more and less. (See how to handle less or more money than your friends.) Be careful with this process and then you can proceed further in a most important manner.

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According to the BLS, adults under the age of 25 spend an average of $ 2,362 per meal. It comes to an average of $ 45 per week. But remember, that number includes young people and college students who work, and those young people have no food plans. If you eat more than $ 45 per week, or if your budget is higher than allowed, it may be less.  It’s time to handle your restaurant habits.

  1. Stop Paying Friends

Even if you keep your restaurant tab down – avoiding drinks and sweets, ordering an appetizer instead of a gateway the If you go out with a group that divides the bill, you can go over your budget. If you do not want to pay for friends’ triggers, tell them and ask for individual bills from the employee before ordering.

From personal experience, it’s best to get everything before you order. That way, friends will be able to determine whether their restaurant dining experience fits within their budgets. (See: Definition guide for splitting the night bill.)

Do you and your friends like to drink dinner? Assuming you are legally drinking, recommend a BYOB (bring your booze) restaurant. A drink purchased from a local wine and spirits store is always cheaper than buying it at a restaurant. Isn’t this a BYOB? Booking is always on. (Google, parents.)