Going to college is a big expense, and students have fees outside of tuition while they’re attending school. There are lots of little, clever ways college students can save cash for class. Here’s how!
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Now’s the time to learn about good financial planning! Here are some things every college student should know:
- Tax breaks: Students may qualify for the American Opportunity Tax Credit and Lifetime Learning Credit, two federal tax credits. Students with loans may also qualify for a money-saving tax break.
- Put the credit card away: You shouldn’t carry your credit cards with you! Keep them put away, in a safe place, so they are used for emergencies only.
- Books: New college textbooks are incredibly expensive. Instead of purchasing new books, look in to downloading e-books to an eReader or a smartphone device. Used textbooks are also available; look online and in college bookstores to find them.
Everyday Ways to Save
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- Spare change: Keep a big glass jar or tin can handy, and start storing your spare change. When it’s full, roll up your change yourself and go cash it in at a bank, or head to the closest Coinstar machine.
- Beer clubs: College students spend a ton of money on alcohol, so try a beer club instead! A brew club or beer club will send samples of beer and discounts that can be a big help — but only if you’re 21 or over.
- Buy a coffee maker: Buying a daily latte may add up to almost $300 per semester of college. You can save on this cost by purchasing a coffee maker and store-bought coffee blends. Even the gourmet coffee is much more affordable at grocery stores, as compared to coffee houses.
- Online entertainment: Use your computer to save on entertainment costs! Instead of paying for cable TV or going out to see movies, watch shows and films online. Many different websites (like Netflix, Hulu, etc.) offer entertainment for free or for inexpensive monthly sums.
- Keeping in touch: Budget friendly phone plans can help students keep in touch with friends and family without breaking the bank. Look for plans offering unlimited data and texting if you use your phone a lot!
Saving Cash for Class
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You can save cash for class in lots of ways, but you obviously will need to enjoy a social experience, as well. Find affordable ways to date and socialize with others, such a going to the park and other free venues, . There are also simple, creative ways you can make money, such as saving scrap metal and cans for recycling or participating in work-study programs. Every little bit of saving and earning will help keep expenses down and cover the big cost of attending college!
Staying focused on saving for college is the best way to be mindful of spending and keep costs low. When you’re thinking about saving cash for class every day, the savings will really add up!