Small Money-Saving Habits for New Students

It’s no joke that as college students, we have experienced a new type of freedom. We’re a few weeks in and are finally getting used to our new routine. We wake up, work and go about our day on our own. Yet, in this journey into “adult” freedom of making our own choices, one part of that includes managing our money. 

Now, we can give you a list of different apps that can help you manage your spending, many of which are actually helpful. One strategy that these apps offer, for example, is deciding the pros and cons before a purchase. Others are knowing how to find the best price on materials for class without sacrificing your bank account.

Between student discounts, happy hours and used books, there are multiple ways for you to save money without sacrificing fun with friends. We rounded up some habits that new students can benefit from. 

No impulse purchases

Before making a big buying decision, think to yourself, “Do I really need it? How much will it impact me if I buy it?” Create a pros and cons list. Do the pros outweigh the cons?

Know what stores offer student discounts

Many of the clothing stores that we shop at offer student discounts. Stores such as Urban Outfitters, Pacsun, Forever 21 and even Topshop offer 10% or more off purchases just because you are a student! Make sure to check if your favorite stores offer them! Also, double check if you have to register as a student.

Sell what you don’t need or use

Sometimes, we either lose interest in or grow out of things we own, and that’s okay! This is a great opportunity to earn money while simultaneously helping someone else save. Apps such as Poshmark and Depop are unique ways to sell and buy new and used products at a fraction of the original cost. 

Put a percentage of your check into your savings account

This is a habit that gradually brings in benefits. Before receiving your paycheck, set a percentage of the amount you earned to move to savings. For example, you can save 15% of your paycheck and see how much you accumulate over time. This will allow you to have emergency money in the bank if something occurs. 

Buy used books

If you find yourself needing a book for class, there are many websites online that offer used books. Chegg is a popular website that not only helps with questions, but also helps you find books at an affordable price. They usually ship pretty quickly too! Also, if you are searching for books on Amazon, you can click on the button that says “used”.

Brew your own coffee and browse for happy hours

As avid coffee drinkers, we can all agree that it’s a necessity to keep us moving throughout the day. Yet, spending $4 or $5 every day at our local coffee shop may not be the best idea if we are trying to save money. You can save up for a coffee machine or use one you have to make your own coffee in the mornings. This is also great if you want to go ahead and try the coffee tricks and recipes you may have seen on TikTok or Pinterest recently. If you aren’t super confident in your abilities to make your own, look out for happy hours. Many shops send out a notice that will let you know when some of their drinks will be on sale!