College Life on a Budget


Tips for saving this season that will help your budget stay low and your pockets stay full. Nov 18th 2014.

Alia Mortenson

College is expensive. Between tuition and the necessities you need in order to live, you will easily spend $20,000 to $25,000 each year. 

Even though college can be a burden on your bank account, it can still be fun if planned out the right way. 

This is where budgeting works its magic.  

1. Write it out. 

When planning your expenses, whether those are payment plans for tuition or simply a phone bill, write out your starting money, your bills and other personal costs. 

Create an expected budget and use it to keep spending on track. 

2. Plan ahead. 

Just like writing it out, make sure to schedule time for budgeting and money tracking. If you don’t plan for it, it will never get done. 

3. Try to put at least 10 percent of your monthly income in a savings account and don’t touch it.

This money is there in case an unexpected expense pops up, like a trip to the emergency room or a new tire for your car. 

4. Use coupons. 

A common misconception about coupons is they are weird and/or lame, but if they keep more money in your pocket, what’s the big deal? Coupons are a great way to stay on budget. This doesn’t mean you have to become an extreme couponer like the ones on TLC, but it does mean that you should keep an eye out for a deal on an oil change or even discounted pizza. 

5. Keep track of how much you’re spending. 

Keep and record all your expenses and/or splurges by holding on to your receipts.

These are just a few of the ways you can save money in college or during life in general, but a little goes a long way when it comes to saving or even spending money.