9 Financial Tips For College Students
Geneva College

9 Financial Tips for College Students

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9 Financial Tips for College Students

We have all heard of the saying, “broke college student” because many students in college are not working or only working part time due to their academic load. When students are not working as much, a well-managed budget and “penny pinching” is key to save money during their academic career.  

  1. Brew Your Own Coffee

Many people feel that a coffee bought from a coffee shop tends to taste better than a coffee brewed at home; however, the cost of a single latte from a local coffee shop costs nearly as much, if not more, than an entire bag of coffee grounds that can be picked up from the store, in which one can then have multiple coffees at a fraction of the price. 

  1. Fashion Trends

In a world of constant trend updates, fashion tends to be one that is always changing, causing many people to invest their money into new fast fashion trends. This is a very expensive practice. As a college student, one should resort to thrift shops or skip out on the fashion trends completely because in reality, what you wear to class in college is not of greatest importance. 

  1. Don’t Eat Out as Much

Going to college may mean residing in a new town for months at a time. With a new town comes neighboring cities, and with neighboring cities comes an abundant supply of restaurants and fast-food chains that a college student may want to try while they can. Though the idea sounds fun, and the experience may be memorable, going out to dine is not always financially smart when trying to save money in college. With that being said, know that it is okay for one to treat themselves and go out with their friends, just remember to be responsible where and when you go.  

  1. Use the School Gym

Many colleges and universities provide their students with a gym that has free access. A gym membership can cost a student anywhere on average from $37-$50 a month. 

  1. Apply for Scholarships 

College is expensive. Applying for scholarships is a helpful way to support your college education. Students can check to see if their college is offering any scholarships, if anyone locally is offering them, or if you align with any private scholarship you find online. 

  1. Stay Invested in Your Classes

As the semester progresses, it can become a challenge for students to get out of their bed to attend their 8ams or other classes, however, it must be remembered that each class a student misses, the more money they are wasting on their education. Additionally, many professors have an attendance policy, and within that policy only very few classes can be missed and the more that are missed, the more a student’s grade may begin to fall which could then result in failing the class, having to retake it, spending more time and money when it could have been avoided.  

  1. Buy the Cheaper Brand

College students do not necessarily need the name brand of every food or product they buy while in college. During the semester they can buy the off brand of some items to help save some additional money. 

  1. Sell Unwanted Items

Almost every college student has items they do not want anymore. Whether it's clothing, games, antiques, etc. There is going to be someone out there that wants what another does not anymore. Reselling items on sites like eBay and Poshmark is a great way to help a college student bring in some extra cash.  

  1. Ditch Bottled Water

24 pack cases of water can range anywhere from $3-$10 depending on the size of the water bottle and brand. These costs add up each time and it may be a good investment for a college student to get a reusable water bottle and a Brita filter. A Brita filter allows one to drink clean and purified water just as bottled water does; however, a Brita filter is a one-time purchase and only needs replacement filters every 2-3 months.  

Happy saving! 


-Ariel Reece '23