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College is an exciting new time in life, but with knowledge comes debt. From textbooks to crazy tuition prices on the rise, many people are wondering how they’re going to be able to afford it. Although getting through four years of college while staying in good financial standing is almost impossible nowadays, the experts at My Tio Rico have the right tips to keep you on track to saving as much as you can during the school year.
Research, Research, Research!
When it comes to college, Amazon.com will be your best friend. Research and compare prices on textbooks, school supplies, apartment or dorm furnishings, and whatever you may need. Amazon is bound to have a cheaper price that you can afford. All it takes is a little more time and effort, but the end payout can be huge.
Cut Cable Costs
You don’t need cable in college! Chances are your friends will have it or the student center will. Instead of posting up on the couch watching TV, you should instead join a club or do something active.
College Meal Plans
Make sure you do your research and see if what you’re paying for a meal plan is worth the amount you’d spend on groceries a week. Most meal plans are a huge waste of money and it’s better to just do the shopping and meal prep yourself. If you have the option to opt out, try it out for a semester. Once your eating habits are in place, stick to them so you know exactly what to expect to spend on food each month. In addition, it’s a good idea to limit how many times you eat out or stop by the coffee shop.
Land a Part-Time Job
Part-time jobs in college are lots of fun. These jobs are easy, fun, and allow you to meet new people around campus. They also take up any time you may otherwise spend out spending money. It’s definitely nice to have a small amount of income coming in during school and adding another activity to your schedule will, in turn, help you learn your responsibilities. If a part-time job isn’t an option for you, you can always look to My Tio Rico for advice on savings or loans.
Student Discounts
Many stores, restaurants, or recreation centers offer student discounts of 5-10%. Take advantage of this! The savings is sure to add up. Just remember to always keep your student ID on you!
Choose the Fit Life
College is one of the only times in life where you don’t have to pay for access to a gym or fitness center. Not only does this save you lots of money, but it will leave you feeling great and less apt to spend money out at bars or unhealthy restaurants
Don’t let college leave you in debt! Adapt to these practices and learn how to budget or save your money as you go. From freshman to senior year, you’ll find you’ve become a pro at living the college savings life. My Tio Rico will always be there for you if you need some last minute help paying off bills or need some extra cash on hand for that busy semester ahead. To learn more about the various loans My Tio Rico offers, call one of our experts today or fill out the application to the right.
