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HomeBusinessSmart Savings Tips for Students Returning to Campus

Smart Savings Tips for Students Returning to Campus

 

 

Students, here are top savings hacks as you head back to campus


It’s that season again—time to pack away the swimsuits and prepare for early classes along with plenty of caffeine. However, returning to school also means dealing with the often-unpleasant task of managing student expenses. Your tuition and housing will likely be your biggest costs, but there are other expenditures you still need to consider as a student. Every little expense can accumulate quickly, so here are some of my favorite strategies to ease the financial strain.

 

Utilize Student Discounts

Many people know that discounts are available for seniors and military members, but did you know that students can also benefit? Discounts can range from 10% to as much as 85% depending on the provider. Various retailers and service providers—from insurance companies to subscription services—offer discounts. Shops, restaurants, and electronics suppliers may also have student deals. To qualify for a student discount, simply verify your enrollment using a .edu email address or a student ID card. Some top companies offering student discounts include:

◾ American Eagle: 20% off

◾ Nike: 10% off

◾ Urban Outfitters: 10% off

◾ The North Face: 10% off

◾ Target: One-time 20% discount

◾ Dunkin’: 10% off (at participating locations)

◾ Apple: Year-round discounts for students.

 

Additionally, you can enjoy lower prices on subscription plans from services like DoorDash, Spotify, Hulu, and Amazon Prime.

 

Save Money by Renting Textbooks and Supplies

Think about renting items you’ll only need temporarily, like textbooks and certain school materials.

 

You could potentially save hundreds by renting textbooks from sources like Amazon, Chegg, Barnes and Noble, or even your college bookstore. Alternatively, opting for an e-book or digital version of your required texts can also help you save. Renting doesn’t stop with textbooks; you can also rent pricier items like calculators, laptops, and tablets.

College: Is it worth it?

 

Master Budgeting and Thrifting

Aside from discounts and rental options, the most crucial step you can take is to shift how you view spending. Therefore, it’s essential to learn how to budget. Living on a budget during tight financial times—like being a student—can set you up for future financial success.

 

Along with budgeting, it’s beneficial to embrace buying second-hand. Remember, new isn’t always the best choice, and opting for pre-owned items can help you keep more money in your wallet. For instance, hunting for second-hand furniture can save you significant amounts. You might find furniture on platforms like Facebook Marketplace or Craigslist. If you prefer not to shop in-store, websites like PoshMark and Mercari are also great for thrifting clothes.

 

Reduce Expenses on Campus

You don’t need to survive on a Ramen diet to cut costs during college. With some effort on your part in saving money, you can enjoy significant long-term rewards. Changing your mindset around spending and mastering budgeting is essential too.

 

One last suggestion for saving: when you shop online, utilize cash-back apps or browser extensions. I personally recommend Rakuten and Capital One Shopping. You can also follow me on Instagram for more tips on budgeting, saving, and spending wisely.

Erika Kullberg is a lawyer and personal finance expert. Discover more of her insights at Erika.com.