If you’re a college student or have attended college in the past, you know that it can be a very exciting time, and time for growth. However, college also comes with costs beyond mere tuition – room and board, books, dining plans or groceries, and so on. Not all college students work – many receive support from their family or from grants and loans – and as a student, you’ll need to develop a sound budget to keep from overspending.
If you’re in need of guidance when it comes to developing a healthy and flexible college budget, here are a few helpful tips to get you off on a good start:
Don’t be afraid to ask about discounts.
Many places, especially in college towns, offer student discounts with proof of student ID. College towns tend to take advantage of their large populations of students, and are often eager to bring in new business by offering student discounts. These discounts are not just limited to local businesses – many online businesses offer student discounts as well. If you need a head start on where you can use your student ID for discounts, here’s a good place to get started.
Look for deals on those ever-expensive books.
It’s no secret that books comprise a major expense for most college students. However, you don’t have to settle for top prices when you can simply do a little extra research. Check out Amazon and other online retailers for discounted books, and even books that can be accessed via the Kindle app.
Make the most of your meal plan.
If you’re living on campus in the dorms and opted for a meal plan, make the most out of it and don’t let the money spent on it go to waste. Most campuses have multiple dining facilities, and you can pick and choose the ones you like best. You can also use your meal plan as a good way to spend time with your on-campus friends – make dinner an occasion!
Track your expenses, and watch out for how much you’re borrowing.
It can be easy to fall into debt in college if you’re not cautious with your spending, and if you’re not tracking your spending and your bank statements. Polam offers personal loans for college-related expenses, such as books and supplies, and we’re happy to guide you toward the best financial choice for your college lifestyle.