5 New Ways to Save Money in College (2021)

We all love to save money, especially while working, going to school, doing an internship, and trying to fit in in time to relax. How can you pay all the bills and still live a fun lifestyle? As a student myself, I always wonder the same thing. It can be stressful paying for college, an apartment, and living some kind of social life. It’s so easy to spend money, but it’s always hard to save money. This is where I come in, I want to help some of this stress. As someone who loves deals / savings I have come up with and found some easy ways to save money, hopefully they help you too.

5 Ways to Save Money

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1. budget! (Or keep track of your expenses)

This may sound annoying or overwhelming, but trust me, it really helps. Knowing where your money is going and how much you make in a month can really help you understand how to best use your money. There are also plenty of apps that can help you keep track, or you can even use a spreadsheet. If budgeting doesn’t work for you, there are many money experts who recommend using the 20/30/50 rule when it comes to money. 50% of your income in needs / bills, 30% in needs (dining out, clothes, shoes, everything) and 20% in savings. That may not work for everyone, but it’s always a good place to start. If you’re not the best at saving money either, then I’ve personally taken $ 20 a week in cash and never touched it. If I continue with this, I’ll have an extra $ 1,040 at the end of December. It may not sound like much, but if you can, it’s a great place to start building savings.

2. Studnet discounts!

Because you need to have your student card with you anyway, it never hurts to find out where you can get a student discount. There are plenty of local places (especially if you live in a college town) that offer students discounts on meals, clothing, and more if you look. Do you want to save money on an iPad, Macbook or more? Apple offers education discounts you don’t want to miss. Do you love ordering stuff on Amazon? Use your student email to get Amazon Prime free for 6 months and then pay only half the price for the next 4 years. There are plenty of options to get hold of discounts with your ID, and since you have it, be sure to use it!

3. Meal preparation

While many of us probably don’t like this idea, listen to me. Getting a crock pot and putting together a meal is pretty easy. You buy the ingredients, don’t have to prepare much, you put it in the crockpot, set the timer, and then forget about it. Depending on the recipe, you have a fairly easy meal with almost no effort, and you have saved so much time. I’ve done this and I’ll be honest, eating a meal just ready for me saves me time and stress. You can probably even get away with cooking while you’re zooming. If you don’t know where to start with that, here’s an easy crock pot recipes to get you started

4. Get to the right bank

There are a number of options when it comes to banks putting money back in your pocket. For example credit unions. Credit Unions aim to serve the customer by giving them higher interest rates (the rate varies by quarter), and they help you get your finances in order by offering different services to maximize your money. One problem I have with this is that credit unions are usually local and you never know where to turn. That’s why I personally used Discover Bank. They do credit cards, debit cards, savings, borrowing and all kinds of fun things. I’ve been using Discover since 2019 and loved it. They are really focused on putting money in my pocket. They have different types of cash back offers especially for college students. As with credit unions, their interest rates can vary depending on the market, but the interest I got from their savings account was astonishing. I also really enjoy their cash back charge, 1% cash back on all purchases made with the card. I’ve already made $ 30 cashback this year using just that card. Their credit card is pretty good too, especially if you have the Discover Student card they offer you a $ 20 credit on the card just for getting good grades in college! You just need to submit your report every semester. They also have several offers for 5% cash back at places like Amazon, Paypal, Walmart, and more.

5. Discount programs

Supermarkets, CVS, Target, Walgreens, or fast food apps, there are plenty of ways to make some cash back. You need to go shopping or get prescriptions, why not save some money while you’re at it? Target offers their red card (debit or credit) and they give you 5% back on all shopping trips. CVS and Walgreens have coupons and rewards programs that give you tons of savings / money back. And even if you prepare meals or buy groceries, it doesn’t mean you won’t eat out or get coffee every now and then. There are plenty of rewards programs that offer you free meals, discounts, or free items just because you are a member of rewards. Think about it, McDonals, Whataburger, Dunkin, Starbucks, Chick-fil-a, Wendy’s and more, you just have to look.

Hopefully these will help you all save some money. I did this myself and I can proudly say it helped a lot. I love to see savings grow and to know that I am helping my future. I also like the feeling when I want to treat myself and see that I get a free meal from one of my meal apps.


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