Personal Finance Blog by Debit versus Credit

4 Ways College Students Can Save Money

October 28, 2008 | Filed in: Frugality | 6 comments

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Being myself a student I’m fully aware of all of the potential cost-savings that can come along with pursuing a higher education.  Of course these cost-savings don’t come cheaply: paying for college can cost thousands to tens of thousands of dollars a year.  But you’re already paying for that right?  You might as well take full advantage of what you’re paying for and listed below are 4 ways to do just that.

• Cancel your magazine and newspaper subscriptions.  The library at your university or community college is more than likely well stocked with all of the latest magazines and newspapers.  You may not find any of those “special interest” magazines that you keep under your bed, but you’ll likely find all mainstream magazines as well as business and hobby magazines.
• Cancel your gym membership.  Many colleges offer unlimited use of their workout facilities.  Take advantage of this.  There is no point to paying for an expensive gym membership when you probably already have full access to the gym at your school.
• Cancel your Internet.  I’m willing to bet that your college offers free Wi-Fi everywhere on campus.  I’m also willing to bet that their Internet access is a lot faster than your current one.  If you live on campus or close enough to the campus where it’s just a hop skip and a jump away you might consider cancelling your Internet and taking your laptop to school whenever you need (or want) to use the Internet.
• Take your date to school.  If you’re looking for a great date idea that doesn’t cost much then look no further than your local college campus.  I’m not talking about taking her to your accounting class with you (you’ll not likely have a girlfriend any longer if you do this) but rather taking advantage of the sports courts that your campus has.  More than likely your campus has racquetball courts, tennis courts, a sand volleyball court and a basketball court.  Volleyball and racquetball are my favorites, but maybe your date prefers to play some b-ball.  Either way it’s all right there, for you to use.

Tags: Frugality, Money Saving Tips, Money Saving Tips for Students

Essential Money Saving Tips For Students

September 24, 2008 | Filed in: Personal Finance | 4 comments

Today we’ll be featuring a guest post from hopeark who will be sharing some money saving tips for students.  Enjoy!

It is easy to get caught in the rush of things when you are in college. In the midst of studying, part-time jobs, socializing and extracurricular activities that you have, you are most likely to forget one of the most important things, which is straightening out your finances.

Money Saving Tips for Students
Here are some tips on how you can save money as a student:

1. Plan ahead.

If possible, do this even before you move into your dorm room.

Check if you are eligible for scholarships and other grants before signing up for any form of student loan.

Construct a cash flow. First, where do you expect to get money from? Make a list of your income , be it from your parents, your student loan or your part-time job.

Then forecast your expected monthly or weekly expenses for food, books, etc. Once you have set aside a budget, be strict with yourself and stick to it.

You will never know what unexpected expenses would come your way so it is better to have a downfall for financial emergencies.

2. Save on food.

One of the major expenses that you have as a student which you might have ignored when you were still living with your parents is your food allowance. Avoid eating at fast food outlets, as this is most likely to ruin your budget. Pack your lunch and plan your meals as much as you can.

3. Take full advantage of student discounts.

Those IDs in your wallet are not just for show. Student ID s and memberships in organizations are honored in several establishments which offer discounts.

Also, patronize a certain establishment regularly and you are bound to get bonus cards for being a loyal customer.

4. Use your cash as much as you can.

Since you already have a draft of the items where you will spend your money, it is easier to monitor your cash flow. Avoid using your debit card when you have cash with you. Use your credit cards or write checks only in emergencies. Having debit cards, credit cards and checks handy might lead you to overspend.

5. Keep yourself busy.

Join clubs according to your field of interest.

Keeping busy will let your mind wander and help you stay away from things that you are likely to spend money on when you get bored. Examples of these are snacks, movie tickets or game rentals. More on Money Saving and Money Saving Tips.

Tags: Guest Post, Money Saving Tips for Students