So you made it to college, the rest of your life should be great, right? Unfortunately, you may be in for a world of stress. If you do not prepare, you will be hit hard in the face by life financially. It is possible to make it through university without stressing yourself financially too much. However, it does require that you prepare for it ahead of time.
1. College Living Expenses
For most people, college is the first time they are responsible for their own expenses. Most people are lucky enough to have things taken care of for them by their parents up to this point. However, the following expenses are just a small sample of what you can expect to face on your own.
The largest expense for most students will be the tuition cost. College tuition has increased in price significantly over the last several decades. Today it is much more expensive for a student to make it through college. That makes it even more important for them to develop a frugal lifestyle.
If you are not careful, food could be one of the largest expenses. There is a good chance your parents cooked most of your meals growing up. Resist the temptation to eat out for every meal. Otherwise, you will blow half of your money on food by itself.
Books for your college classes can add up quickly. You need to budget for them. Otherwise, it will be difficult for you to pass. We recommend looking at used books before you purchase a new one. Sometimes you can save quite a bit of money that way.
It is difficult to study if the lights are not on. You are going to need to pay your utility bill each month. Be careful with how much electricity you use, because it can add up.
Most college students have a cell phone. It is difficult to operate in the modern world without one. Do not sign up for a high-cost cell phone plan. You could waste over $100 a month for a single line that way.
2. Frugal College Hacks
There are plenty of ways that you can minimize your expenses while you’re in college. Take advantage of every lie fact that you can. Each of them will add up and make it easier for you to make it through. The less financial stress you have, the easier it will be for you to graduate.
The art of cooking is a great way to impress other people. It is also very effective at reducing your monthly food budget. Those are two great reasons to learn how to cook for yourself. Besides, cooking at home is a lot healthier than eating out anyway.
There are so many services that get you to sign up for a monthly charge. Many of them are quite subtle. Because the monthly charge is small, a lot of people ignore them. However, eventually, you will have many of them. For every $10 a month you are spending on a service, you are spending $120 a year.
Automate Your Heating and Cooling:
Smart thermostats are a great piece of modern technology. They let you automate both the heating and cooling of your home. This is more than mere convenience. It can help you live more frugally. Use a smart thermostat to automate your heating and cooling.
Utility bills can be expensive if you are paying for them by yourself. That is why we recommend college students get a roommate so you can split your Ambit Energy bill. It is a lot easier to pay for it with two people rather than one.
Making It Through College Frugally
Do not stress out too much. Most people struggle a little bit financially while they are in college. If you are wise, you will apply for any student aid that you qualify for. That is how most people make it through without getting overwhelmed.