5 Money-Saving Tips Every College Student Needs To Know

Living on a budget as a student isn't easy. We've all had the situation where we didn't have enough money in our wallets. Here are some tips to help you manage your college budget.

Money Management

Updated 03 Aug 2015

5 Money-Saving Tips For College Students - Feature-Image

Living on a budget as a student isn't easy. We've all had the situation where we didn't have enough money in our wallets. However, with careful planning, you can definitely get through college without denying yourself any of the fun and adventure college life has to offer!

Here are some money-saving tips that will help you save more and spend less while in college.

1) Pay Attention To Food Expenses

Just because you're no longer limited to school cafeteria food doesn't mean you should be eating like a king all the time. Meals can cause a big dent in your wallet if you don't manage your food expenses properly.

Have a weekly food budget and try not to splurge too much on fancy cafes. If you can, pack your own meals from home and try not to eat out too often. Learning how to cook is a good skill to pick up too — not only will it save you some money, you may even gain a few extra friends!

2) Buy Second-Hand Textbooks

Textbooks often don't come cheap and can be one of your biggest expenses in college.

Try to get your hands on second-hand textbooks as these will be MUCH cheaper than buying new ones. Your seniors will likely be willing to let them go for a discount, but remember to check for missing pages and ensure that they are still in reasonable condition.

And after you're done with the semester, you can sell them off to make a few bucks yourself!

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3) Ask for Student Discounts

Getting student discounts is one of the greatest perks of being a student. Take full advantage of this, because you only get to be a student once in a lifetime!

Whether you're watching a movie, eating out or buying a laptop, always ask the cashier if they offer any discounts for students. All you need is your college ID, so carry it with pride!

4) Make Use of Campus Facilities

Instead of wasting your precious ringgit signing up for gym memberships and renting badminton courts, make full use of the ones at your college campus. Most colleges will have various facilities like a gym, badminton and futsal courts, and if you’re lucky, a swimming pool too!

But campus facilities don't just end there. There's also the college library with a HUGE amount of books and reference materials which you can borrow for your studies and assignments, computer labs and study spaces too. Make sure you utilise them as well!

5) Take Public Transport

You might not realise this, but if you drive to college, you may end up wasting a lot of time getting stuck in traffic and also spending money on parking charges.

Take the college bus, which is usually cheaper, or sometimes even free! You could also take public transport (e.g. Rapid KL bus, LRT, KTM Komuter), or even walk or cycle to college.

College days can be tight on the wallet, but careful planning and maybe a part-time job here and there can help smooth things out. Managing your spending and coming up with clever ways to save money is all part of the college experience, so enjoy the ride!