College Savings Ideas

There are many ways to save money leading up to or during your college years that don't require you to survive on ramen. Consider the options of working, living at home during college and buying used textbooks and furniture.
  1. Precollege Savings

    • The fastest and easiest way to save for college is to work full- or part-time during the year or summer leading up to the beginning of your college career. Also, applying for loans, scholarships and bursaries will lighten the financial load, as some of them you never have to pay back.

    Living at Home

    • If you currently live near your college, living at home may be the best idea for saving money -- if your parents don't mind continuing to pay for your expenses. If they do, however, you will likely pay less for board at home than you would for an on-campus dorm or off-campus apartment.

    Buying Textbooks

    • When buying textbooks, look for used copies online, either through a book reseller, online auction site or online college community where students sell their books. Check used bookstores close to campus to see if the book you need is available at a lower cost. Other options include borrowing or sharing books with another student to split the cost.

    Housing

    • When furnishing your home, shop at local thrift stores for bargains. Even if your furniture is severely mismatched, your wallet will thank you. Many household items such as kitchen and bathroom accessories can now be found at local dollar stores for a fraction of the cost at a department store.

    Clothes

    • While back to school shopping may have been the highlight of your high school years, if you are looking to save for college, stick to thrift and vintage stores. However, if you are opposed to shopping thrift, scout only items that are on sale at your local mall.

    Credit Cards

    • Some students may choose not to apply for a credit card, as doing so can result in a circle of debt. This in itself will save you money. However, for those who believe they can exercise self-control, choose only credit cards with a small limit and a low, fixed interest rate. Check into cards that are specifically designed for students. If you can, choose a student card with earning rewards, such as air miles, gas or groceries.

    Entertainment

    • Choose entertainment that doesn't cost any money, such as going to the beach, hiking, playing games with your friends or participating in a sporting activity. Many television channels offer their shows online for free, so you can cancel your cable service and opt to watch your favorite shows on the Internet.

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