How To Save Money in College: 66 Tips for Students in 2022

Learning how to save money in college may be the last thing you want to do while you’re, well, already learning in school. But starting responsible spending habits early on can give you a valuable financial head start. Imagine being able to pay off your student loans or other debt right after graduation, or even put a down payment on a home.

While there are many ways to approach this, we know it can get overwhelming for even financially savvy people. This is why we’ve put together 66 smart ways to save money in college. Browse through them all or jump to the one that interests you the most, but consider incorporating at least a couple to put some extra cash in your savings each month — we’re sure you won’t regret it!

• Buy used textbooks
• Cook your own food
• Split rent with roommates
• Brew your own coffee
• Use all available campus amenities
• Buy a bike in lieu of a car
• Use your student discount
• Buy food in season or on sale
• Ditch bottled water
• Buy discounted electronics
• Use freeware and shareware for your applications
• Buy your clothes at thrift stores
• Get on a family cell phone plan
• Use the school gym to work out
• Get your hair cut by beauty school students
• Use generic brand makeup and beauty products
• Print on campus whenever you can
• Limit your alcohol or buy cheap drinks
• Opt out of cable
• Hit matinee showings at the movies
• Spend spare time in nature
• Check for free events in your area
• Use public transportation for longer treks
• Carpool home for the holidays
• Skip spring break or expensive summer trips
• Join clubs and attend events that offer free food or t-shirts
• Find cheap housing close to campus
• Use local classified ads to buy furniture
• Always pay your bills on time
• Conserve energy
• Split memberships with your friends
• Learn how to hand-wash clothes like silk and wool
• Take care of the things you have
• Use alternatives to disposable items
• Learn to tailor your own clothes
• Buy in bulk with your friends
• Limit the times you eat out
• Make dinner with your friends
• Make one large meal and eat it all week
• Freeze food that’s nearing its expiration date
• Shop smart at the grocery store
• If you do eat out, do it for lunch or happy hour
• Pack snacks and drinks for class
• Proactively manage your money
• Join a credit union
• Choose a bank that offers student perks
• Use budgeting apps
• Avoid interest fees
• Shop around for things like insurance
• Make your own presents
• Ask for practical gifts for holidays
• Don’t buy school supplies you won’t use
• Test out of classes
• Become a resident assistant
• Apply for scholarships
• Don’t fail classes
• Share textbooks with friends
• Keep your valuables safe
• Attend a community college
• Learn how to make minor auto repairs
• Purchase discounted gift cards
• Wait on large purchases
• Live at home
• Start a side hustle
• Adopt a minimalist lifestyle

1. Buy Used Textbooks

Textbooks are a necessity, but buying them new is not. Buying used textbooks or renting them is one of the easiest ways to save money right off the bat.

2. Cook Your Own Food 

Many college students are on meal plans, but if you aren’t lucky enough to have your meals paid for, cooking your own food is the way to go. Eating out can be expensive and add up quickly.

3. Split Rent With Roommates

If you live off campus, living with one or more roommates is a perfect means of learning how to save money as a college student. Enjoy the most savings by renting a house with several rooms and splitting the rent with as many roommates as you can find.

4. Brew Your Own Coffee

While bistro coffee may seem like a small expense, it can add up quickly. The average price for a standard cup is $2.70, which adds up to almost $1,000 a year. Brewing your own coffee cuts these costs significantly. Plus, you can split pots (and costs) with your roommates!

5. Use All Available Campus Amenities

Campus amenities, like free or discounted health care and counseling, free activities, child care, and the library should be utilized whenever possible to help with saving in college. Why spend your own money on services offered for free? 

6. Buy a Bike in Lieu of a Car 

Having a car can be convenient, especially if you don’t live near campus. If you’re able to, however, using a bike to get around can save loads of cash. Not only are you not paying car payments or footing the bill for repairs, but you won’t need to pay for gas.

7. Use Your Student Discount

Many companies offer student discounts on things like activities, clothing, and food. Take advantage of the discount whenever possible and save the difference.

8. Buy Food in Season or on Sale

Many people don’t realize this, but fruits and vegetables that are in season are often less expensive. Sticking to foods that are local, in season, or on sale can offer you significant savings.

9. Ditch Bottled Water

Bottled water isn’t necessarily expensive, but drinking filtered water from the tap is significantly cheaper. In fact, drinking three bottles of water a day can add up to $1,095 a year. That same amount of tap water would cost you less than a dollar per year.

10. Buy Discounted Electronics

We mentioned student discounts for smaller expenses, but there are also discounts students can take advantage of at companies like Apple, Best Buy, Dell, and Microsoft. Use your discount for larger expenses as a way to save money in college — you’ll likely see a significant cost difference.

11. Use Freeware and Shareware for Your Applications 

There is software that’s made free for all users (freeware) and software that’s initially distributed free but later costs money for extras or upgrades (shareware). Many commonly used applications have free or shareware substitutes that can be used free of charge.

12. Buy Your Clothes at Thrift Stores

When you’re trying to save some money in college, there is no need to buy brand-new clothes. There are many online thrift and consignment stores that offer high-quality, brand name, and designer used clothing. If you’d rather shop in person, there are usually thrift stores located near college campuses you can explore.

13. Get on a Family Cell Phone Plan 

Most wireless carriers offer an option to add a line to an existing plan. If you aren’t already, jumping onto your parents’ family plan is much less expensive than opening your own. Simply pay your parents the monthly difference (usually between $15 and $50).

14. Use the School Gym to Work Out

The campus athletic center can be one of the best perks of being in college. A gym membership can cost anywhere from $20 to $100 a month, so use the school gym and put that money into savings instead.

15. Get Your Hair Cut by Beauty School Students

Many cosmetology schools offer free or discounted haircuts to let their students practice. Many times these students are close to completing their training and are already quite skilled. If you’re willing to risk it, this can be a great help with saving money in college, as their rates are often much cheaper.

16. Use Generic Brand Makeup and Beauty Products 

Beauty products can get expensive, especially when you’re buying high-quality, name brand products. When you’re on a tight budget, using generic branded hair, makeup, and beauty products can save a ton of cash.

17. Use Amazon’s Textbook Service

You can now rent, buy, and sell books on Amazon. They claim you can save up to 85 percent on textbooks after proving you are a student. You can also get Amazon Prime Student to receive free and fast shipping. It’s free for six months (and $6.49 a month after that).

18. Print on Campus Whenever You Can

Most campus libraries offer free or extremely discounted printing services. Use these rather than buying your own printer, paper, and ink.

19. Limit Your Alcohol or Buy Cheap Drinks

While alcohol-centric activities are usually a large part of college life, the unhealthy habit can add up quickly. If you want to save money it’s best to abstain, limit your drinking, or only drink discounted or free drinks.

20. Opt Out of Cable

With streaming services like Netflix, Hulu, Sling, and Amazon Prime Video, there is almost no reason to pay for cable. Choosing one or two and cutting the cord on cable is a good way to save money in college on a monthly basis.

21. Hit Matinee Showings at the Movies

One inexpensive activity you can enjoy is going to the movies. However, night showings can be pretty pricey. Attending a matinee showing instead can cut costs. Just be careful not to spend too much on expensive movie theater snacks.

22. Spend Spare Time in Nature

If you have a park, river, beach, or hiking trail near your campus, you should utilize it. Spending time in nature is not only good for you, but it’s usually free or very low cost.

23. Check for Free Events in Your Area

There are often free events offered in college towns that you can take advantage of. Whether it’s a concert, meetup, or neighborhood event, these can be great places to pass the time and meet new people. Local event websites or the campus newspaper will usually have a list you can browse.

24. Use Public Transportation for Longer Treks

If you need to get farther than your bike will take you, look into public transportation in your area. Although it usually takes longer, it’s also inexpensive to take the bus home for the holidays or to visit a friend in another city.

25. Carpool Home for the Holidays

If public transportation isn’t an option or you have a friend from the same hometown, carpooling home for the holidays can be a great solution. Driving a long distance can be more fun with company anyhow, and you can split the cost of gas.

26. Skip Spring Break or Expensive Summer Trips

While taking trips for spring break or summer is a fun college tradition, it’s also expensive. If you’re serious about saving, you can forgo these trips and put that money into savings instead. During the break you can participate in low-cost activities around campus or visit your family.

27. Join Clubs and Attend Events That Offer Free Food or T-Shirts

Many campus clubs offer perks like free t-shirts and free food at events. If you find one you’re interested in, you might as well join and enjoy the benefits.

28. Find Cheap Housing Close to Campus

While living near campus is sometimes more expensive, many times you can get lucky and find affordable housing there. This situation is optimal because if you live near campus you can pop home for meals rather than buying them or head home in between classes rather than spending money on an activity. Living close to campus is also perfect for biking or walking.

29. Use Local Classified Ads To Buy Furniture

When you’re on a budget, secondhand furniture and home accessories can help you save a bundle. Free services like Craigslist, Facebook Marketplace, and Letgo can help you locate items in your area to buy at a discount.

30. Always Pay Your Bills on Time

Many landlords, utility providers, and services charge fees for late payments. These can add up over time, so it’s best to ensure your bills are always paid promptly. If you’re able to set them up on automatic payments, that’s a great way to make sure bills are always paid on time.

31. Conserve Energy

Keep the AC or heater turned down and always turn off the light when you’re leaving a room. Not only is it good for the environment, but it will save you money.

32. Split Memberships With Your Friends

Whenever possible, pitch in for memberships like Netflix, Hulu, or Costco with your friends or roommates. Usually, several people can share an account without penalties, but do your research to make sure before choosing to share.

33. Learn How to Hand-Wash Clothes Like Silk and Wool

Some clothes require special care to clean, but dry cleaning is expensive. Learn how to hand-wash these clothes yourself to save some money and preserve your nice clothing.

34. Take Care of the Things You Have

Avoid buying new items and make what you have last. Hand-wash your clothes, keep your furniture clean, and treat your computer with care. If you take especially good care of your belongings, you might even be able to sell them later.

35. Use Alternatives To Disposable Items

With the zero-waste movement growing in popularity, more people are saying no to disposables. Buying dish towels and dishes that you can wash (rather than paper towels and disposable cups and plates) will end up saving you money.

36. Learn To Tailor Your Own Clothes

The main problem with secondhand clothes is that they may not fit as well as ones you buy specifically for yourself. If you learn to hem your jeans, tailor your dresses, or upcycle t-shirts, you can breathe new life into used clothing.

37. Buy In Bulk With Your Friends

Supplies like toilet paper and cleaning products are significantly cheaper when bought in bulk. Find a friend with a Costco or Sam’s Club membership and split the cost of bulk items.

38. Limit the Times You Eat Out

Eating at restaurants can be one of the most costly items in a college student’s budget. To cut this expense drastically, determine how frequently you can eat out and still stay within your budget. After making the change, you might be surprised how much more money is in your bank account each month.

39. Make Dinner With Your Friends 

Large amounts of food are usually less expensive than smaller amounts, meaning it’s more economical to share home-cooked meals with your friends or roommates. You can rotate who buys and cooks or simply split the bill — either way, you’re sure to save.

40. Make One Large Meal and Eat It All Week

Sticking with the idea that food is less expensive when cooked in large amounts, it can also be helpful to cook one meal and eat it all week long. You can cook soup in a slow cooker, make a casserole, or bake a whole chicken to eat throughout the week.

41. Freeze Food That’s Nearing Its Expiration Date

Many people don’t realize that you can freeze foods like casseroles, cooked meats, soup, berries, baked goods, and even butter. To save money and prevent food waste, freeze things that are nearing expiration and enjoy them later.

42. Shop Smart at the Grocery Store

Going to the grocery store hungry makes it much more likely that you will buy items you weren’t planning on buying. Make sure you eat before shopping and stick to your grocery list to avoid purchasing unnecessary items.

43. If You Do Eat Out, Do It for Lunch or Happy Hour

When you’re eating your monthly allotted restaurant meals, try to go for lunch or happy hour when restaurants are likely to be offering specials.

44. Pack Snacks and Drinks for Class

Snacks and drinks from vending machines and convenience stores can add up. Buy snacks at the store (or in bulk) and bring them to class. For drinks, use a reusable bottle and fill up at home or at the water fountain.

45. Proactively Manage Your Money

Banks will often charge fees for accounts that are overdrawn. Make sure you’re monitoring and managing money in college closely to ensure this doesn’t happen often — or ever.

46. Join a Credit Union

Credit unions usually offer lower fees, better interest rates, and more personal service than other banks. They are a great choice for anyone trying to watch their budget and get the most out of their banking services.

47. Choose a Bank That Offers Perks for Students

If you choose to go with a bank instead of a credit union, there are many that have benefits for people in school. Perks include lower fees and convenient locations.

48. Use Budgeting Apps

There are numerous apps that can help you make a budget, plan savings, and keep track of spending. Many of these tools are low cost or free, so there is no reason you shouldn’t be using one.

49. Avoid Interest Fees

If you have credit cards, pay them off in full every month to avoid interest fees. Credit cards can get out of hand quickly if left delinquent. If you can’t pay the card off in full monthly, you may want to hold off on getting one.

50. Shop Around for Things Like Insurance

Always compare prices for costly purchases like car and renters insurance, as different places will offer different pricing. Figure out what kind of coverage you need and choose a company that works with your budget.

51. Make Your Own Presents

Birthdays and holidays can often mean spending money on gifts. Making your own gifts can allow you to spend time, rather than money, on your loved ones.

52. Ask For Practical Gifts for Holidays

Occasions when you receive gifts, like holidays or your birthday, are the perfect opportunity to load up on essentials. Ask for things like clothes, socks, cookware, and supplies so you don’t have to buy them yourself.

53. Don’t Buy School Supplies You Won’t Use

Most people these days use their laptops for taking notes in class. In fact, most exams are taken digitally these days. Avoid buying school supplies like pens and paper if you don’t really need them.

54. Test Out of Classes

Programs like CLEP allow you to take exams and test out of intro-level college classes. Testing out of just one class can save you 100+ hours of time and thousands of dollars. If you can test out of several classes, you could end up saving bundles.

55. Become a Resident Assistant

College dorms usually employ a resident assistant to help younger students and keep the peace. You will have to live in the dorm, but the rooms are almost always private. These rooms are often free or heavily discounted — sometimes RAs are even given a monthly stipend!

56. Apply for Scholarships

Scholarships award money to students based on merit or need. Find out what scholarships you’re eligible for and apply early. You never know — a large portion of your semester could be paid for.

57. Don’t Fail Classes

If you fail a class, you will have to pay to retake it. Avoid flunking out as much as possible by showing up for class, turning in your homework, and studying hard for tests.

58. Share Textbooks With Friends

If you have a friend in the same class and you plan to study together, it can pay off to share textbooks. Split the cost of renting textbooks and stow the money you save.

59. Keep Your Valuables Safe

Unfortunately, theft is a problem on many college campuses. Keep an eye on your valuables if you’re in public (like at the library or a coffee shop). If you live in a house with multiple people, it’s best to keep your expensive things hidden or locked up. You never know who your roommates might invite over.

60. Attend a Community College

Community colleges cost significantly less than state schools or private universities. Many students choose to get their general education classes done at a community college to save money. After the first or second year, they transfer to larger schools to take their more specialized classes.

61. Learn How To Make Minor Auto Repairs

Auto repairs can be extremely costly. If you decide to own a car during college, learn to do minor maintenance and repairs yourself. Convenient skills include knowing how to change your oil, brake pads, and battery, or how to replace a headlight.

62. Purchase Discounted Gift Cards

Services like Cardpool, Raise, and RetailMeNot sell discounted gift cards to department stores, restaurants, and clothing stores. While they aren’t heavily discounted, the $4 or $5 you save when you buy these cards can add up. It’s basically free money!

63. Wait on Large Purchases

Wait a week before making any large, unnecessary purchases. This will give you time to think the situation over and ensure you actually want whatever you are buying. You may realize the purchase isn’t as essential as you thought it was.

64. Live at Home

If you can live at home with your parents (at least for the first couple of years) you can save large amounts of money. While this isn’t what most people imagine when they start college, it can help you get ahead in the savings game. Living at home can go hand-in-hand with the community college strategy.

65. Start a Side Hustle

Having a side gig is a great way to make extra money while keeping yourself busy so you aren’t spending money. You can drive for a rideshare service like Uber, deliver packages for Amazon or Postmates, clean houses, or launch a profitable website. There are infinite options for all skill levels and expertise.

66. Adopt a Minimalist Lifestyle

One of the best tips to save money in college — at least from a decor perspective — is becoming a minimalist. This means decorating your home simply, having a limited wardrobe, and eating basic meals. Naturally, minimalists spend less money. Other benefits may also include decreased stress and a clearer mind.

The key to learning how to save money in college is saving small amounts often. If you can do this, you should have no problem building your savings up during your college years. Once you have a decent amount put away, you will need to decide how to make that money work for you. Chat with a financial adviser to determine the best long-term financial strategy for your situation, and turn to the Mint app to keep track of your progress, along with the rest of your finances.

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