100 Money-Saving Lessons from Poor College Kids

By Emily Thomas

Whether you’re in college or long gone, there are lots of great money saving tips we can all learn from poor college students. Living like a poor college student might not be as bad as you think, however. In this article, we’ll take a look at 100 ways you can learn how to get by a little better by taking a lesson from college students.

Food & Shopping

Stretch a buck when you’re eating or buying with these college kid tips.

Buy used books: College students often buy used textbooks, at great savings off of list prices.
Shop discount stores: Use discount stores like Wal-Mart and Costco to get items on a budget-just be careful not to load up your cart unnecessarily.
Get on a meal plan: If your office has a cafeteria with a meal plan, consider signing up for savings.
Dumpster dive: Check out curbs and dumpsters to score free furniture and other items.
Shop the dollar store: Stock up on cheap staples by paying a visit to your local dollar store.
Don’t do delivery: Never pay for delivery unless it’s cheaper than getting it yourself-and even look for carryout specials, often found at pizza places.
Avoid brand names: Most of the time, you won’t be able to tell the difference between name brands and store brands.
Buy in bulk: Students know to buy large bottles of alcohol for savings-and you can do the same with other items as well.
Learn to cook: Put your kitchen to good use and whip up something at home.
All you can eat: Visit buffets to make your meals as big as you want them to be.
Don’t buy books unless you have to: Wait until you’re sure you need a book, then see if you can find a free ebook, or a cheaper version before you commit to paying full price.
Eat cheap: In a pinch, Ramen and Kraft can feed you cheaply-although produce often offers more nutrition for the money.
Shop around: Find the best deals and bang for your buck.
Buy used whenever possible: Books, baby strollers, or tools, are just a few examples of things you can buy used.
Find specials: College students seek out happy hours-you can look for coupons, special purchase days, and more.
Freeze food: Make extra food and freeze it for easy meals later.
Eat out less: By eating at home, you can save money and live healthier.
Share books with friends: Exchange books among your group of friends, and you’ll all save money.
Make your own coffee: Don’t stop by the coffeehouse every morning-invest in a good French press and quality beans for your home.
Plan for leftovers: Get an almost free lunch every day by making a little extra every night.
Buy in bulk: Buy your items in bulk, sharing and splitting the cost with friends.
Shop online: If you can’t find products at a discount in retail stores, check out online retailers.
Stay away from fast food: Invest in food that gives you more nutrients for your buck.
Eat nonperishable food: Avoid wasting money on rotted food-buy groceries with a long shelf life.
Buy and sell used clothing: Create a unique style with used clothing-and make some cash by selling your old stuff.

Entertainment & Travel

Use these lessons to keep yourself entertained and having fun without spending a lot of money.

Look for discounts: Even though you may not get a student discount, you can cash in on early bird specials, and discounts for seniors and the military.
Stay with friends: Avoid hotels, and travel where you can stay with friends.
Stay busy: Keep yourself busy with work, family, and hobbies, and you’ll have less time to spend money.
Cut out vices: Cut down or avoid vices like beer, cigarettes, and drugs.
Take a road trip: Stay close to home and drive somewhere to save some money.
Seek out free drinks: Frat parties are out, but you can get free wine at art openings.
Take advantage of free and cheap activities: Go to free concerts in the park and other activities to save money.
Go on cheap dates: Go outdoors, out to coffee, or free events for a date.
Go to cheap shows: Arena concert prices can be obscene-but club shows often only cost a small cover charge, and you’ll save on drinks.
Take group trips: Get together and save with friends by taking trips as a group.
Plan for fun: Know that you’re going to want to get out and have some fun-so set aside a little cash to play with.
Use free communication: Call family, friends and colleagues using free long distance on your cell phone, or using services like Skype.
Go to happy hours: Find cheap drinks and appetizers by visiting at the right time.
Entertain yourself at home: Students often stay at home to study instead of going out-you can read or educate yourself instead.
Don’t bother with a landline: If you have a cell phone, avoid getting a landline to save on communication costs.
See obscure films: Stay out of blockbuster movie theaters, and watch independent, foreign, and old films for a fraction of the cost.
Avoid big spenders: Don’t hang out with people who like to spend significantly more than you do, or arrange to do inexpensive things with them.
Use free 411: Call 1-800-GOOG-411 pr 1-800-Free411 to save money.
Get together at peoples’ homes: Avoid meeting friends and family at bars or restaurants-entertain each other in your homes instead.
Drink cheap: Although you may not want to start drinking trashcan punch again, picking up a budget bottle of wine can help you save some cash.

Financial Management

These tips can help you keep your money under control.

Track your spending: Don’t let your budget get out of control-keep a close eye on what you’re spending.
Get help: Although your days of scholarships are over, grants and government assistance are often available to those who need them.
Take advantage of government programs: If you qualify, use food stamps, Medicare, and other money saving programs-your taxes pay for them.
Pace yourself: Slow down your spending to make your money last.
Only use credit cards for emergencies: If possible avoid using credit cards for anything but emergencies.
Don’t sign up for useless credit card offers: Avoid signing up for obscene credit card offers in exchange for t-shirts and gifts.
Build a good history: Use credit cards to build a good credit history so you can save money on financially sensible products in the future.
Pay off your cards each month: Only use credit cards if you’re going to pay off your balance each month.
Keep a low credit limit: Avoid the temptation to spend up your credit card by keeping it at a low credit limit.
Stay away from fees: Do everything you can to avoid fees from your financial accounts.
Don’t max out loans: Smart students avoid maxing out student loans-and you should do the same, avoiding maxing out loans or credit cards you may have.
Avoid unnecessary debt: Students have student loans-you may have a mortgage, but stay away from debt beyond the basics.
Stay on top of your accounts: Avoid insufficient funds fees by making sure you stop spending before your money runs out.
Get good grades: Although you won’t get a good student discount, keeping your credit score up to a high grade will save you money.
Take it easy on loans: Just because you qualify for a loan, you don’t have to take it-pay cash whenever possible.
Pay bills on time: Stay away from late fees on credit cards, utilities, and more.
Shop around for loans: Don’t blindly take the first offer you get-look at others to make sure you’re getting the best deal available.
Plan ahead for ATMs: Avoid costly ATM fees by planning ahead and using your bank’s branch or ATM.
Plan ahead: Often, students have loans that have to last them a whole semester, so they have to plan accordingly. You can plan ahead like this by forecasting your income for a certain period of time.
Use a convenient bank: Set up accounts with a bank that’s close to you and easy to access, and you’ll avoid transportation hassles, and often ATM fees.

Making Money

Follow these college student tips to learn how to make more money.

Consider a part time job: Make a little extra money on the side with a part time job.
Tutor: If you’re good at math, English, or science, offer to tutor students for money.
Save time: Save time to have more free time to work a part time job and earn cash.
Be a good employee: Stand out at work, and you’ll have better opportunities for the future.
Sell your old stuff: Get rid of old and unnecessary items by selling them in classifieds or online.
Donate plasma: Make money from getting your blood drawn.
Do seasonal work: Take on a Christmas rush job, or lifeguard in the summertime.
Work for free: Internships can open doors for students, as volunteering can do for adults.
Actually go to work: College students know they have to go to class-you have to go to work to continue making money.
Start your own business: Take advantage of your special skills and start a business of your own.
Take off jobs: Accumulate a little money here and there by doing small jobs for people.

Housing & Transportation

With these tips, you can live and get around just a little bit cheaper.

Use public transportation: Save money on car expenses by opting to take public transportation instead.
Get a roommate: Cut down on your living expenses by sharing your housing with someone else.
Live near a bus line: Living close to town can be expensive-so consider living close to public transportation.
Stay in a hostel: When traveling, spend your money on experiences and thoughtful mementos, not an expensive hotel room.
Drive a clunker: Put off buying a new car as long as you possibly can.
Get insurance discounts: Although you won’t get a good student discount, avoiding accidents and keeping a good credit score can lower your car insurance.
Carpool: Whether it’s across town or across the country, ride with friends and it will be cheaper.
Live small: Dorms and college apartments are not known for their huge amounts of space-save money by living in a smaller apartment or home.
Share: Instead of borrowing your college roommate’s clothes, you can borrow your neighbor’s power tools.
Buy used furniture: Check out classified and garage sales to find furniture on the cheap.
Accept offers: If someone you know has a spare refrigerator, couch, or toaster oven, and you need one, don’t be too proud to accept it.
Live close: Many students save on transportation costs by living on campus or close to it, so they can walk or bike to where they need to go on a regular basis.

Miscellaneous

These are just a few more college saving tips.

Determine your own spending: Don’t try to keep up with friends and family who seem to have more money than you.
Have a financial plan: If you fail to plan, you plan to fail-map out your goals and needs, then stick to them as close as you can.
Use free gyms: College campuses often have free gyms, while there are often free or low cost gyms and classes available at community parks.
Stay active: Stay healthy and active, and your health costs will decrease.
Get health insurance from somebody else: Whether it’s your spouse, employer, or parents, anything is cheaper that getting individual health insurance.
Visit libraries: You may not have access to university libraries, but you can save lots of money by using your local library.
Take advantage of free services: Use free services available in your community, like libraries, parks, and free classes.
Join groups: Fraternities help save college students money on room, board, and food-pool your resources in a group to save money similarly.
Take a multivitamin: Multivitamins can help make up for deficiencies in your college student diet.
Quit when you’re ahead: Students know to drop classes that are more trouble than they are worth before they hit the deadline-learn to get out of bad situations similarly to save money and more.
Do things right the first time: Students who fail classes pay dearly to retake them-save your money by planning carefully for DIY projects, travel, and more.
DIY: Avoid hiring professionals whenever possible.