Article written by Rebecca Briones
Managing finances to save for college can be stressful. At Averett, we get it, and we are here to help you. Keep reading for our five best tips for saving for college.
1. Create a Budget
By monitoring your income and spending, you can find areas where you can cut back. Track everything from rent and utilities to smaller purchases like coffee and snacks. Once you see where your money goes, it becomes easier to adjust your spending, such as skipping non-essential purchases or limiting your spending on entertainment. Sticking to a budget helps you live within your means and focus your funds on what truly matters.
2. Scholarships
Another way to reduce future financial burdens is by securing scholarships. There are countless opportunities available to help cover tuition, supplies and even housing costs. Scholarships are typically easy to find and apply for online, so applying for as many as you can decreases your chances of having out-of-pocket expenses. Check out our scholarship list to learn what you could potentially qualify for.
3. Student Discounts
Don’t forget to make the most of student discounts—whether it’s on streaming services, technology or travel, companies often offer perks to college students. Averett University partners with more than 25 local restaurants and businesses to offer the Cougar Nation Discount Program for students to use.
4. Change your Lifestyle
Consider small lifestyle changes that can lead to big savings. Buying used textbooks, cooking meals at home and avoiding impulse purchases are just a few ways to save more money. Bulk shopping is another method to reduce per-unit costs, while a part-time job can bring in extra income to cover college expenses. Taking online courses and commuting can also be helpful for students when trying to save money while in college.
5. Consider Living Off Campus
If living on campus is costly, taking online courses or commuting could be a smarter option to avoid paying for room and board. Each of these strategies, when combined, can help you manage your finances more efficiently and make college life a little less stressful.