Getting Your Money's Worth: Money-Saving Hacks for College

Raise your hand if you think college is too darn expensive… yup, same here. Between tuition, room and board, computers, textbooks, entertainment, clothing, and a variety of other expenses, your degree can really take a toll on your pocket book. We all know we can apply for scholarships and find a part time job, but what else can we do? Luckily, as your fellow, frugal college student, I have compiled a list of some of the money-saving tips I have used to help me pay for college debt free!

When shopping at a retail store ask if they have any coupons or special discounts available. I especially recommend this at larger, department stores like JCPenney, Macy’s, or Kohl’s. The associates behind the counter usually have additional coupons, codes from their weekly ad, or a number you can text to get an additional discount. At JCP especially, I can usually get an additional 20% off just by asking if there’s any coupons- and I don’t even have a credit card or rewards card through them!

Treat your school’s athletic ticket packages like an investment. At Iowa State we can purchase the “All Sports Package” (which is a dumb name because it only includes tickets for two of our school’s multiple sports, but whatever..) for around $250, which includes 7 home football tickets and about 18 home men’s basketball tickets. If I can sell 6 of the football tickets at an average price of $40 each, the ticket to the CyHawk rivalry game for $100 (which is the going rate I’ve sold mine at), at all of the basketball tix at $20 a piece, I will make $450 after I subtract the cost of the package. You can even have the payments Venmoed to you and transfer the ticket online. Easy money? Absolutely!

Realize that some expenses are important and others are not. Let’s take a pair of nice jeans versus a cute designer spiral notebook. Some might say, “Well you need the notebook for your classes, but you don’t have to buy the nice jeans.” This is very true. However, other than looking cute in your backpack, what are you really going to gain from buying a $5 notebook instead of a 68¢ one? In contrast, a pair of nice jeans may, of course, be completely overpriced, but in my own experience you will wear jeans until they literally begin to fall apart and you often get what you pay for in clothing. So, some additional expenses are important and worth it and others are not.

Don’t think you can negotiate your apartment rent rate? Think again. The profit margin most landlords and management companies make on poor college kids is disgusting. They have no skin in the game at the prices you’re paying right now, so why not try to save a little money? I will say this must be done very tactfully and delicately- no one is going to give a rent discount to a 19-year-old who comes into their office with their guns blazing. It is also much easier to accomplish this if you are renewing your contract, rather than signing for a new unit. Simply suggest the rate you would like to pay and give some sort of reasoning as to why you think that rate would be more fair. When renewing my contract for next year on my current apartment, I was informed my rent was going to being hiked $15 a month. Is $15 a month a bank-breaker? No, it isn’t, but when I moved in the gal who had shown me the building on a tour told me that if I stayed more than one year I could expect a rate lock. I explained this to the company and told them I would like to continue paying rent at my current rate. To my suprise, they accepted! There were a lot of articles I read leading up to the process, including a great blog by Nationwide, that explain how to negotiate rent better than I ever could. Just remember, a rental agreement is simply a contract and nothing is final until you sign it, so make sure you get what you want in writing and put your John Hancock on it!

From the categories of “Experiences”, “Eating Out”, “Drinking”, “Fashion”, “Technology”, “Household”, pick one thing to spend your extra money on. So much of your money is already committed to you tuition, rent, groceries, gas, and other necessities. And, if you’re responsible, you save some of it, too. So what do you do with the extra? You can’t do all of those things regularly with the little bit left over if you want to be able to pay your bills. My suggestion to you is to pick one of those things to focus on spending most of that extra on. Personally, I know that I love a good kitchen gadget or a fun candle from Bath and Body Works on the regular, so I just plan to use a little bit of money each month for those types of things.

Like you probably learned when you were young, be aware of your utility usage. You may not think that leaving your phone charger or TV plugged in when you aren’t using it is costing you money, but if you pay for your electricity it is! Unplugging when you’re gone, turning off lights you aren’t using, and turning the temperature on your thermostat up at night may not seem like it will make a huge difference, but I can usually save an average of $10 each month by simply conserving a little energy- good for the planet and your pocket!

In addition to your normal, salaried job, don’t be afraid to pick up some odd jobs, too. One of the best things I do during the school year is dogsit for my coworker when she and her husband are out of town. I get to work on homework uninterrupted, eat yummy food, hang out with her two puppers (and a cat), and get paid! The cash I make dogsitting is what I use to go out with friends and buy birthday and christmas gifts. Plus, I have fun! You can Uber, clean houses, or even be a part of that dogwalking app- just find something you like doing that you can make a little cash at!