Money Saving Tips For College Students to Beat Inflation

Today there is a need for everyone to reduce their cost of living. Everybody has been young at one time and we all have spent money on unnecessary items and had fun doing it. But times are tough now, and college students living in their own digs have to be on their guard if they want to make ends meet. Money saving tips for college students would include cutting unnecessary spending each day in order to beat inflation. One way college students sabotage their budgets is spending money they don’t really have, many times to impress their friends. An almost imperceptible flow of money escapes through many a college student’s hands, but with some useful tips there are things one can do to save a little money and when you add them up, college students will see that they can actually put some money back into their hands.

Food Budgets

When food shopping, remember that there is nothing inferior about supermarket brands. Sometimes it is tempting, particularly when you are out in a group, to want to splurge on exotic foods from trendy stores, while supermarket brands are equal in quality and are always more economical. You can count on saving on house brands of foodstuffs as well as cleaning materials.

College StudentVegetables in season cost less than frozen or canned vegetables and are better for you as well. Breakfast cereals cost less in plastic bags than in boxes and lower grade foods are often as wholesome and nourishing as those of a higher grade. Know your meat cuts too, because cheaper cuts may require longer and slower cooking, but they are just as nourishing.

College students can also get used to planning menus in order to cut shopping down to one trip to the store each week. It pays to make a list and stick to it. Beware of paying extra for fancy packaging and containers; those just make the product more expensive.

Laundry, Showers and Medicines

Some college students have been lucky to have received a washing machine from their parents when they set up in their own apartment or they may have access to laundry facilities in their dorm or apartment; and there are several money saving tips for college students who find themselves living along for the first time,

Don’t run your washing machine half full just because you need those special designer jeans for the weekend. Rather wait until you have a full wash load. It is true that most machines use the same amount of power full or half empty, but fewer loads amounts to less water and less electricity.

You pay extra for soaking in a bath because a tub can take 55 liters for the average bath while a quick shower of five minutes will take about 30 liters of water.

Pharmacies belonging to discount chains often cut prices on their non-prescription lines and patent medicines and toiletries sold by supermarkets are often 10-15% cheaper than pharmacy prices.

Credit and Loans

It may be cool just to pull out a credit card to pay for a movie or to buy clothes, but one of the most valuable money saving tips for college students is to pay cash wherever possible, because items bought on hire-purchase can cost as much as 50% more.

As a college student, it’s cool to save; in fact you gain nothing if you don’t try and you win money and respect when you save and you can pay your way. Check out the money saving tips for college students by Mint.com below.