How to Save Money in College: 9 Best Ways

Save Money in College

All investing and wealth-building endeavors stem from the fact that you  have money saved up to work with. Even though this is common knowledge,  most people don’t start saving until really late in their lives. Here are a few tips for saving money in college that could benefit you tremendously.

1. Buy Used Stuff

These items listed below can almost all be bought second-hand at a steep discount: – Tablets, computers, and laptops – Furniture and decor – Fridges, microwaves, and freezers – Cars 

2. Ditch the Car

On average, a new car costs around $40k! Once you add in the interest and time value of  money, plus the opportunity costs, that works out to much more. There  are many alternatives to getting a new car for college, including: – Getting a USED car for college – Riding a bike – Walking (if your campus is small enough) – Public transportation – Uber and/or Lyft

3. Be Safe with Credit Cards

Credit cards are indeed a great way to build your credit score, but  that’s only when they’re used correctly. If misused, credit cards can be  your financial ruin. Unfortunately, nobody in the banks ever really  tells you about this, but if you’re late on your credit payments, they  usually charge you upwards of 20% per year….. compounded!!!

4. Start Investing

One of the best ways to make your money work for you is to start investing. Investing simply means putting your money to work, and there are countless ways you can do it: – Stock market investing – Real estate investing – Bond investing – Commodity investing (like gold and silver) – Alternative coins and cryptocurrency

5. Look For College Discounts

Here are some college discounts listed below: 1. Amazon Prime Student 2. Evernote 3. Bed Bath and Beyond 4. Microsoft Office 5. Spotify 6. Hulu 7. Show

6. Never Buy New Textbooks

There were so many instances when I was in school where I would buy a  new book for $100+, use it just a few times for the course, and then be  given half (if not less) of the cost when I sold it back to the  university. I learned the hard way, but you don’t have to!

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Money Saved Is Money Earned!