With spring semester beginning around the country, we thought now would be the perfect time to look at some great money-savings tips for college students. Here are seven ways college students can keep their costs down and stretch their hard-earned dollars the farthest.
Keep textbook costs as low as possible
Think you have to buy the newest addition of every textbook your college professor requires for the course? – Think again. Alternatives to purchasing new textbooks include borrowing them from the school library, renting them, sharing the cost of the textbook with students in the same class, finding an earlier edition of the same textbook, and seeking out graduates of the course for their old textbooks.
Use that first credit card wisely
Many college students obtain their first credit card upon enrollment in school. Use it wisely by never buying more than you can afford, paying bills off on time each and every month, educating yourself on the merits of a good credit score, and avoiding late charges and excessive debts at so early an age.
Investigate all discounted student activities
Most colleges have a wide range of activities available for students at discounted prices. These can include movie nights, social events, lectures, museums, concerts, and many other activities your student ID card will allow you to access at a reasonable cost.
Keep food costs down
There are many ways to keep food costs down while a student. These can include finding the right on-campus eating plan that doesn’t require you to purchase three meals a day, sharing cooking costs with friends and roommates, and learning how to grocery shop wisely by using coupons and going to bulk stores like Sam’s Club and Costco.
Apply for scholarships
Most students make the mistake of thinking that scholarship opportunities only exist for those at the start of their college careers. But many school divisions and departments offer work and need-based scholarships for students already enrolled.
Get an on-campus job that will give you both extra cash and additional school-related benefits
Examples of great student jobs that provide such benefits include becoming a Resident Advisor at a college dormitory, working at on-campus eateries that provide meals for their employees, and signing up for surveys and experiments offered by various departments that pay students for their participation.
Get good grades
Last but certainly not least is what we consider to be our most important recommendation when it comes to long-term financial success: earning good grades. Good grades on a transcript show such attributes as determination, resiliency, and the ability to perform hard work to all prospective employers and professional schools that may be in your future; in the long-term, they will probably give you more financial benefits than any of the other important tips we’ve suggested.
We hope these seven tips will help you get a jumpstart on a successful spring semester, and allow you to keep working hard academically without getting buried in debt. And if you continue to have financial problems related to the costs of a higher education, or have other financial hardships that may lead you to want to get cash now out of your structured settlement or annuity, please contact J.G. Wentworth today at 877-227-4713.