How to Save and Make Money in College
Saving money as a college student doesn’t have to be a tragic experience. It can be as simple as spending. And if you’re in college, you know how easy spending is because life gets expensive. From food to clothes and the inevitable huge expense you weren’t ready for, like buying textbooks.
Taking a proactive approach is the best way to save and make money while doing it. Fortunately for you, I’ve made it a lot easier by outlining methods I personally use. Read on to start your money-saving journey to bliss.
Cash Back: Credit & Debit Cards
If you have student loans, find out if your loan provider offers a service where you can link your credit card and/or debit card. This enables you to get cash back on the things you’re already buying. I currently use Upromise.com a service offered if you have a student loan with Salliemae.com.
Don’t have student loans? Lucky you! Another great way to earn cash back is by taking advantage of student accounts offered by banks. Bank of America’s cash rewards card is my personal favorite because I get cash back on the necessities. Other banks that offer student cards include Wells Fargo, Citibank, and Chase Bank.
Clip Digital Coupons
Clipping coupons is so old school, but we have apps for that! Download apps for your nearby convenience/grocery store, or even your local pharmacy, and get discounts on the things you buy. Personally, this is how I save most of my money. Clipping coupons on an average grocery trip saves me about $15 on my cart! Not only that, but you also get a heads up on upcoming deals and birthday rewards when you create an account.
Student Discounts
Sign up for student discount websites for free discount codes on everything from clothing, beauty, and technology. Even if it’s just an extra 10% off, that can add up a lot especially when buying sale items! Two websites you can check out are Unidays.com and Studentbeans.com. Both websites are geared toward the average broke college student looking to save an extra buck. I highly recommend them because they offer major discounts on name brands that most college students love.
Invest in the Stock Market
Who doesn’t love an extra couple hundred dollars in their bank account? With the money you saved from the tips above, maybe explore investing in stocks. There are companies like Fidelity.com that can help. Although I do recommend doing thorough research before.
Want a more convenient approach? Investment apps like Acorns are another option. The app works by rounding up your spare change on purchases, then automatically invests in your portfolio. The epitome of “investing in your future.” If you don’t want to pay a heavy tax on your gains, ssga.upromise529.com has investment options for college students to help from being taxed heavily on a withdrawal.