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How College Students Can Save Money

How College Students Can Save Money



Tuition isn't the only cost college students incur. To avoid struggling, follow these money-saving tips.



A 21st century insurance survey of about 100 students aged 18-25 found that 92% feel saving more money in college is a priority.



Rent

The average estimated 2011-2012 budget for on-campus room and board at a four year, in-state college was $8,887.



75% of students live off-campus

AND

26% of them pay more than $600 a month for rent.



Tips for Saving



Try to negotiate.

If an apartment is $500 a month, and a comparable one is $400, offer $450.



Get a roommate to share the cost.

Screen potential roommates and arrange to split bills fairly.



Check out semi-furnished apartments near campus.

If monthly rent + utilities is 25% less than on-campus costs, it can be worth it.



Food



In 2011, the average student spent $765 eating off-campus.



When asked what they do most often for food:

51% order takeout

20% go out to eat

20% eat at dining halls

9% buy groceries



Tips for Saving



Clips Coupons

Only clip the ones you need to avoid extra spending.



Cook large meals and eat leftovers during the week.

This could save you hundred of dollars a month.



Ask friends to pitch in for groceries and make a meal for the group.

You can also learn how to cook this way.



Textbooks



The average estimated 2011-2012 on-campus student budget for books and supplies at a four-year, in-state college was $1,168.



When Asked Where They Buy Textbooks:



46% get most of their textbooks from online retailers like Amazon and eBay.

36% get most of their textbooks from the campus bookstore.

11% rent their textbooks.

7% get their textbooks from miscellaneous bookstores, or from friends.



Tips for Saving



Don't buy new books at the college bookstore.

Buy used books instead.



Sell your books back once the semester ends.

You'll make back some of your money, and someone else can buy used, too.



Check for E-book versions.

Amazon and Chegg offer textbooks and e-book rentals.



Transportation



The average estimated 2011-2012 transportation budget for on-campus students at a four-year, in-state college was $1,082.



When asked how they get to class most often:

37% said by car.



Tips For Saving



Find an insurer that offers a discount for good grades.



Check whether you can stay on your parents' policy for a discounted rate.



Look for Zipcar access; cars are often located right on campus.



Entertainment



College football season tickets can cost about $150.



When Asked How Much They Spend On Entertainment:



47% spend $0 - $25 a week.

26% spend $25 - $50 a week.

12% spend $50 - $75 a week.

15% spend $75 or more a week.



Tips For Saving



Go to free campus events.



Look for specials at local bars.



Don't buy bundled football tickets unless you plan to go to most of the games.



Look for festivals, lectures, plays, etc.



Bring cash to avoid spending more than you budget for. HOW < 2$ COLLEGE STUDENTS CAN SAVE MONEY Tuition isn't the only cost college students incur. To avoid struggling, follow these money-saving tips. A 21ST CENTURY INSURANCE SURVEY of about 100 students aged 18-25 found that 92% feel saving more 92% money in college is a priority. O RENT THE AVERAGE estimated 2011-2012 budget for on-campus room and board at a IN-STATE COLLEGE WAS T $8,887. 12] four-year, of students live off-campus, 75% AND of them pay more than $600 a month for 26% rent, 1) TIPS FOR SAVING $50 $400 TRY TO NEGOTIATE. GET A ROOMMATE CHECK OUT TO SHARE THE COST. SEMI-FURNISHED If an apartment is $500 a month, and a comparable one is $400, offer $450. APARTMENTS NEAR Screen potential roommates and arrange to split bills fairly. CAMPUS. 3) If monthly rent + utilities is 25% less than on-campus costs, it can be worth it. X FOOD IN 2011, the average student spent EATING OFF-CAMPUS.4] $765 WHEN ASKED WHAT THEY Do MOST OFTEN FOR FOOD:4) Buy 9% Order 51% Takeout. Groceries. Eat At Dining Halls. 20% 20% Go Out To Eat. TIPS FOR SAVING SAVE 30% CLIP COUPONS. COOK LARGE MEALS ASK FRIENDS TO AND EAT LEFTOVERS PITCH IN FOR Only clip the ones you need to avoid extra spending. DURING THE WEEK. GROCERIES AND This could save you MAKE MEAL FOR hundreds of dollars a THE GROUP. month. F You can also learn how to cook this way. TEXTBOOKS THE AVERAGE estimated 2011-2012 on-campus student budget for books and supplies at a four-year, IN-STATE COLLEGE WAS T $1,168. [2] WHEN ASKED WHERE THEY BUY TEXTBOOKS:() 46% get most of their textbooks from online retailers like 11% Amazon and eBay. rent their textbooks. 36% get most of their textbooks from the 7% get their textbooks from miscellaneous bookstores, or from friends. campus bookstore. TIPS FOR SAVING ON DON'T BUY NEW V SELL YOUR BOOKS CHECK FOR E-BOOK BOOKS AT THE BACK ONCE THE VERSIONS. COLLEGE SEMESTER ENDS. Amazon and Chegg offer textbook and e-book rentals.18] BOOKSTORE. You'll make back Buy used books instead, 15) some of your money, and someone else can buy used, too. TRANSPORTATION THE AVERAGE estimated 2011-2012 IN-STATE transportation budget for on-campus students at a four-year, $1,082. COLLEGE WAS When asked how they get to class most often:4) 37% said by car. TIPS FOR SAVING Find an insurer that Check whether you Look for Zipcar offers a discount access; cars are often located right on campus. 9 can stay on your parents' policy for a discounted rate.6) for good grades.15] ENTERTAINMENT CAN COST ABOUT COLLEGE FOOTBALL season tickets $150." WHEN ASKED HOW MUCH THEY SPEND ON ENTERTAINMENT: [1] 26% 12% spend $25 - $50 a week. spend $50 - $75 a week. 47% 15% spend $0 - $25 a week. spend $75 or more a week. TIPS FOR SAVING FREE Go to free Look for festivals, campus events. lectures, plays, etc. Don't buy bundled footbalL tickets unless you plan to go to most of the games. Look for specials at local bars. Bring cash to avoid spending more than you budget for. SOURCES $4 [1] http://www.instant.ly/report/5050fc4ea36a509c8bd82be3 [2] http://trends.collegeboard.org/college_pricing/report_findings/indicator/883 [3] [4] http://money.cnn.com/galleries/2012/pf/college/1203/gallery.costs-fees.moneymag/ [5] http://www.21st.com/auto-insurance-information/car-insurance-for-college-students.htm [6] http://cheapscholar.org/2011/10/31/should-you-ride-along-on-parents-car-insurance-policy/ [7] http://news.everest.edu/post/2008/10/save-money-4 [8] http://www.forbes.com/sites/emilylambert/2011/09/01/be-smart-save-money-on-textbooks/ [9] http://www.zipcar.com/universities/ //money.cnn.com/2012/03/27/pf/college/housing-costs.moneymag/

How College Students Can Save Money

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From rent and textbooks to food and transportation, we know tuition isn't the only cost college students incur. Check out our survey of what the average student spends per year and get tips for where ...

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