College money tips matter more than you think, especially when your bank account is one DoorDash order away from going bust. But you don’t need to be a finance expert to stay on track. This practical advice for college students can help you budget, save, and make confident decisions without missing out.
Budget like a boss
- Track your expenses using apps like Credit Karma, YNAB, or just a spreadsheet.
- Set a monthly budget for essentials: rent, food, transportation, and school supplies.
- Create separate categories for fun spending, but stick to limits.
Live frugally (but comfortably)
- Cook at home instead of eating out. Meal prepping can save hundreds per month.
- Take advantage of student discounts (Spotify, Amazon Prime, museums, etc.).
- Buy or rent used textbooks from Chegg, Amazon, or your college bookstore.
Be smart with credit
- Use a student credit card to build credit, but pay it off in full every month.
- Avoid carrying a balance or making minimum payments.
Maximize student resources
- Use campus resources like the gym, printing, or student health services to save on outside costs.
- Apply for scholarships and grants every year.
- Get involved in campus jobs or work-study programs.
Make some extra cash
- Side hustles: freelancing, tutoring, delivery apps, part-time jobs
- Sell unused items: clothes, books, tech gear
- Consider remote gigs or internships that pay and build your resume
Avoid these money traps
- Don’t take out more student loans than necessary.
- Avoid buying the latest gadgets or “keeping up” with wealthy peers.
- Skip subscription services you don’t really use.
Start saving and investing
- Open a high-yield savings account for emergencies.
- If you can, invest a small amount using apps like Acorns.
- Learn about compound interest. It’s a game-changer for your future.
Tips for adjusting your budget
- Too tight? Reduce entertainment, cut subscriptions, or pick up extra hours.
- Extra money? Increase savings or pay down student loan interest (if applicable).
- Inconsistent income? Base your budget on your lowest earning month.