College Can Be Very Expensive! Use These Money Saving Tips To Save A Few Extra Buckeroos!
How to save money as a student: Is that even possible?! Who’s the Einstein that decided school would be free until the end of grade 12 and post-secondary would cost $10,000-$40,000?
I get it.
My trial has ended and now I need to pay if I want to continue, but really? what’s with the giant jump?
In this blog post, I will give you some money saving tips to help you college students out there save some dolares!
Hopefully, by reading this, you won’t have to look through your couch cushions for some loose change!
Like what you’re reading? Check out my other blog posts!
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1. Don’t Fail Your Courses!
The #1 rule to save money as a student is to NOT FAIL YOUR COURSES. Retaking a course can be very costly especially if you fail one after another.
Sometimes it’s easier said than done, but personally, from my experience, the likelihood of me failing was due to my professors (that, and also my lack of motivation to study)
Some courses are not meant to be self-taught and if you’re like most students who need a professor or tutor to walk you through the material then it’s crucial to have a decent teacher.It boggles my mind as to how some of the professors I’ve met can be a teacher when they’re just so bad.
Before even signing up for your course, search up the name of your professor to see their ratings– if the majority of the comments are from students who are telling you to avoid him/her, then you should probably steer clear of that prof.
2. Take The Same Course At Another College/Institution
Another method on how to save money as a college student is to take the same course that you need at another school. Make sure that the course is equivalent and transferable to your current program.
Different schools tend to charge differently for every course and this is where you can save money by taking the same course elsewhere. Universities will often charge more than your local college; just make sure that it is still applicable to your program! Who cares about whether or not the course is better, all that matters is the credits you need to finish your program right? 😉
3. Buy Used Textbooks to Save Money
As if tuition fees weren’t bad enough, now you need to buy textbooks for your courses. Another tip on how to save money as a student would be to buy used textbooks!
Textbooks can be as costly as a few hundred dollars! I would know! My Income Tax Act + the Self Study Guide cost me around $300!
Buying used is one of the easiest ways to save money as a student. Just make sure that if your course requires an access code to do homework then you either buy an unused code or flake out on the few homework marks.
If you are looking for a place to buy used textbooks then try looking up your school’s facebook groups. There’s bound to be some students who created a group just to buy and sell used textbooks!
3.5. Done With Your Course? Sell Your Textbooks
This is point #3.5 of this list of money saving tip because this is also related to college textbooks. If you pass your course with flying colors then get your money back by selling it to other students.
This is a win/win situation because you get a portion of your money back while the other student got their textbook below retail price!
Tip: Avoid making any notes or highlighting marks in the textbook if you have intentions of selling it. The more damaged and used the textbooks are, the less $ you can expect to get back from it. Especially with access codes, a used access code literally cuts the price of a textbook in half.
4. Don’t Even Think About Driving If You Want To Save Money
There’s nothing wrong with driving, but the problem is that many people finance/lease a car outside of the 20/4/10 Rule. If you really need to drive because you live far away or you need the convenience of a car then have it fall within the 20/4/10 car rule.
On the other hand, if you’re looking for another way to save more money as a student then look into if your school provides public transportation passes for students. Generally, these are allowed for full-time students, but you can try to see if you qualify if you are a part-timer.
If your school offers transportation passes for students then definitely take advantage of it to save money on a car and ridiculous campus parking fees. It’s like they’re not already taking thousands of dollars from us.
5. Want To Save More Money? Use The “I Am A Student” Excuse
Anyone who has ever had to work while balancing full-time post-secondary school knows how tough like can be: work, school, study, repeat.
You’re in this endless, tortuous cycle of having to work a minimum wage job to pay for school while paying thousands of dollars for school in order to qualify for a higher paying job.
This is why you should use the “I am a student” excuse because this is another method on how you can save money as a student.
It’s not exactly haggling, but it’s saying “Hey come on, give me a cheaper price, I’ve got
There are many places that offer discounted rates for students as long as you provide some sort of student identification. I’m not too sure how it is in other places, but in
For example, I was able to get my bank fees waived on my chequing account and I was also able to get a discounted gym membership rate at my current gym, simply by letting them know I was a broke ass student.
6. Save Money By Brewing Your Own Coffee
I know how it feels when you wake up at
If that doesn’t get you then maybe it will later in the afternoon when you’re brain is malfunctioning from all of the work. What do you need? A big cup of coffee to get you up and running again.
Coffee can quickly add up to being one of your biggest expenses if you drink it daily. One of the first things I cut out of my expenses in order to save more money was coffee. I mentioned it in my blog post here on how I was able to save a lot more money as a student!
7. Don’t forget about the TAXES!
The last way to save more money as a student on this blog post is to take advantage of the tax credits from paying your tuition! School tuition payments can be deducted off your tax return!
Depending on where you live, the rules may be a little different so double check with where you live and see if and how much you can deduct from your tax returns.
BONUS: Other Methods To Save Money
These 7 money savings tips are ways that I was able to save a lot of money as a student, but there are other ways of saving money! I decided to make a separate list because these money saving ideas can apply to everyone, not just students!
- Don’t go grocery shopping when you’re hungry
- Restrain yourself from making impulsive buys
- Only buy things that you need
- Pay your bills on time to avoid interest fees
- Cook your own meals and meal prep instead of eating out/ordering in
- Drink alcohol moderately and only during special occasions
- Sell the belongings that you no longer need to make a few bucks back
- Consider finding a roommate to split the rent
- Track your expenses and cut out unnecessary expenses (i.e. landline, cable)
- Downsize your phone plan
- Find a cheaper gym membership
- Don’t pay for a music subscription when you can find free music online
- Consider free e-books or borrowing from your local library instead of buying a brand new book
- Hang out at places where it doesn’t require a lot of money. Free museums, hiking, etc.
Saving Money As A Student Conclusion
Being a student can be tough especially when you need to balance school and work, but
If you need other tips on how you can save more money then check out my other blog posts! I post a lot about personal finance, budgeting, investing, and more!