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Posted August 07, 2015 by

College Life 101: A Student’s Guide to Saving Money in School

happy student with a money at the school desk on the white background

Happy student with a money at the school desk on the white background. Photo courtesy of Shutterstock.

Students need to be their own personal financial managers. They also need to be financial planners, looking at future expenses. How can you survive the money pit of college? By planning and managing your money vigilantly. Avoiding overspending and accumulating high credit card balances are important goals for success.

Books and Materials

One of the first major expenses is textbooks. You can save significantly by renting your books. Many students buy used books and materials. Make sure that any interactive materials, such as CDs, website codes, and more, are transferable. Some students share books, especially when they have different class periods.

Materials, such as art supplies, can wreck a budget. Ask your instructor if any stores offer student discounts. Sometimes, you need a voucher or coupon from the college; but, generally, your student ID is sufficient. How much can you save? Up to 25 percent on average. (more…)