Tweet

When it comes to saving money, it seems to be an everyday struggle for college students. According to lendedu.com, 27 percent of students reported not having any income. Whether, it is putting small bills of cash aside or having a savings account, people are constantly trying to look for a way to put money away for something they are saving up for. 

 “I save all my five-dollar bills whenever I go shopping,” said Alex Peters, a student at Grand View. “This way, at the end of the year, I’ll just have a bunch of five-dollar bills all ready to just put into my savings account.” Peters is among the many students who use the idea of putting money away.

Something that adds up over time would be going out to eat. According to thesimpledollar.com, the average student eats out 18 times per month, and that can add up. Going to the school cafeteria would be an easy way to save a couple extra dollars per month.

Danni Finn, a student at GV, said: “Every time I get a one-dollar bill, I put it into a jar, so if I need it or I am going somewhere special, I use that, and it adds up quickly. Advice I would give to college students would be: budget your money per month, have a certain amount that you can spend, and stick to that amount.”  

“I just go to the cafeteria instead of eating out all the time,” said Emily Andrews, a student at GV. “I like rationing out what I have on a debit card to make sure I just stick to that budget. I look at multiple sites just to see where I can find the best price.” 

There are many different ways you can save money when still making your everyday purchases. Small things, such as getting the smaller coffee, avoiding eating out as often and keeping track of your spending greatly adds up over time. 

Ethan Roesch, a student of GV, also has a savings account where he saves up money to buy cars. 

“My advice for college students would be limiting yourself to a certain amount each week that you know is reasonable for yourself, that you are able to get a few things that you want, and have a little fun, but at the same time, don’t blow all your money in just one weekend,” Roesch said. 

Many adults out of college are also still able to save money. Ryan Roy, a completion coach at GV, said: “I can be very good at saving money when I am very consistent and strict with my money. I know how to balance it out. I set aside money each month that goes to my savings. I also recently started putting money into a retirement plan consistently. Advice I would give to students would be keeping track of how much you would spend and what you spend it on. Ask yourself, do I really need to spend more on a larger quantity? For example, do I need a large coffee versus a small coffee? Use coupons. A few dollars a week can save you over a period of time. Know your wants versus needs. When you save or earn extra, it makes that item feel more valuable than just buying it and feeling guilty or not being able to afford it later.”

 Roy also said he has an Excel spreadsheet of the money that he spends monthly. When paying all of his bills, after he configures the amounts, he is able to figure out the amounts he is able to spend on other items.

Saving money might be tough at sometimes, but with a little planning and a lot of care, any student can save some extra dollars.