How to Be Frugal While Going to College Full-Time

If you are a full-time student in college, you will realize that you have to make your money stretch as far as you can. Even if you get financial aid, if you are not wise with your money, you may find out that you are running out of food and other necessities before the semester ends.

The first thing you have to decide is if you are going to live in a dormitory or an apartment off-campus. When you live on-campus, most times your room comes with a bed, dresser, desk and utilities. A meal plan, in most cases is included in the room and board. While living off-campus is cheaper, there are some things that you have to consider. First of all, do you have to provide your own furniture? The second thing to consider is what utilities you have to pay for. For example, if you are going to be responsible for the electric bill, is it really more economical to live off-campus? A final thing to consider is food to keep you going. Are you going to purchase a meal plan or cook your own meals?

Each college is different with the meal plans. Some just have a dining hall that serve breakfast lunch and dinner. There are a different variety of meals that students needs. For example, one person may want to eat three meals a day. Others may go home on weekends. Then there are the ones who eat breakfast. Depending on the amount of meals a person eats during a day or a week, some plans cost more than others. Find the ones that meet your needs. You save money by not wasting it on days that you do not eat.

Other colleges offer a point system. You purchase a specific amount of points at the beginning of the semester. If you are living on-campus, there is usually a minimum that you must purchase. Then you can purchase more points throughout the semester. Here is an example of how the point system works. The dining hall may charge 500 points for a meal. There may be a fast food place on-campus that also charges points. There also may be a grocery store. Think of these points as money. If you want to make the points last throughout the semester, find the cheapest places to eat. On most campuses, it is cheaper to eat at the main dining hall than to get a cheeseburger. Not only is it cheaper, you also get more to eat. Dining halls offer a buffet of a large variety of food.

If you decide to live off-campus and decide to do your own cooking instead of purchasing a meal plan, you do not have to buy a life supply of macaroni and cheese or ramen noodles. If you have access to the Internet, go to google.com and type in cheap, one person meals. You can find many recipes that include rice, noodles and pasta. Many of these ingredients can be used if you are planning on having leftovers.

Instead of buying name brand food, purchase the store brand. While it is cheaper, it also tastes the same.

While fast food restaurants, such as McDonalds are convenient, it also costs more than when you make your own hamburgers. Go once in a while as a reward for getting an A on your test. However, do not go every day. Not only will it hurt your wallet, you may become a victim of the Freshman Ten.

If you have a roommate, have him or her share the responsibility of the grocery shopping. You can also join a discount club such as Sam's Club or Costco. You can buy food in bulk and still spend less on food than at a grocery store.

It is very popular to see students sitting at a Starbucks writing a paper while drinking a cappuccino. However, when they do this on a daily basis, this adds up. It is better to buy a coffee pot and make your own coffee.

Eat before you go to a grocery store. If you are hungry when you shop, you most likely will buy food based on want and not need.

Tap water is just as good and healthy as bottled water. It also is free.

Look through newspapers and fliers for coupons. Find out which stores have bargains on double coupons.

Make a shopping list before you go to the store. That way when you go, you only buy what you have listed and nothing else. This helps you from being temped in buying something that is not a necessity.

Determine if that purchase that you are about to make is a want or a need. While you may want to buy that cool new university jacket, the money you spend on it may be better spent on something you need, such as college textbooks. When you see something that you want to buy, but you do not need it, wait a few days before making the purchase. Chances are you will find out that you did not really want it.

Most college students can easily get a credit card. Just as easily, they can use up their available balance in on time at all. The main reason is people tend to forget to treat the plastic as cash. Therefore, it is easy to make a purchase with a credit card and then forget about it until the credit card bill comes due.

If you do not have a job that provides a steady income, forget about applying for that credit card. If you use it, you will have to make a payment every month until you get the credit card paid off.

When you are shopping, it is best to use cash when you buy something. When you buy something using the credit card, you will be paying interest each month. That is how credit card companies make money. By the time you pay your credit card bill, you may be paying double of the cost of the product you bought.

Get a credit card that has a low credit limit. This will help you to budget your money and keep your monthly bills at the lowest possible. However, make sure you do not over-extend your credit limit. Credit card companies charge a high over-the-limit fee.

It is best to keep track of where your money goes. You may think that a dollar here and a couple there is a big deal. However, if you do not keep a record of where you shop and how much you spend at each place, you will be wondering where all your money disappeared. If you have a bank account, keep an accurate ledger of your deposits and withdrawals. You can also use a pocket notebook to keep track of your transactions.

Set up a budget. Make a list of all your monthly expenses such as tuition, room and board, groceries and household expenses. You can determine how much you can spend each week on entertainment, shopping and other unnecessary purchases.

If you must have that laptop or IPod, consider buying new ones. Just by going on EBay.com, you can find many neat gadgets at a fraction of the price.

Take advantage of flea markets in the area. You can find many bargains that cost well below the retail price. This is an excellent way to stretch your dollar. You can purchase at least double the amount of merchandise that you could have bought at the mall.

Going to the movies can put a dent in your wallet. Unless you have one of those hard-to-find two dollar theaters, you can easily pay twenty dollars to see the movie and buy popcorn and soda. It is better to invite friends for a movie night. Each person can make a contribution towards movie rentals, popcorn, soda and other refreshments.

When you start your summer vacation, you look forward to a two or three month break from your classes. You will have free time on your hands and look forward to catching up on things, pleasure reading, for example, that you put aside to concentrate on your studies. However, think of a summer vacation as a time to make extra money. There are many places that hire strictly for the season.

Even when you are not attending classes, there are many part-time jobs that are available on campus. Some of them include academic office jobs, working in food service, sports events, bus drivers and tutors. Just make sure that you job does not interfere with your studies.

Look for a job that pays bi-weekly. You will be able to control your spending when you have to wait longer for a pay check. Also, if you work for a year, you will see at least two months where you will get three checks.
When you get your semester schedule, you may have a list of textbooks required for each class. Never buy new unless if you absolutely have to; textbooks nowadays can cost up to $100 per book. It is better to look around the campus bookstore and bulletin boards to see if a used copy is being sold. Also, check out the campus library. You can borrow the textbook and keep renewing it throughout the semester. However, the only downside of this is if somebody makes s a reservation for the book, you will not be able to renew it.

If your professor is using a new edition of the book, go to class before buying it. Some teachers may never use the book that is required. By finding out if he is not going to use a book, you will save money.

Even though there is a college bookstore where you can buy your supplies, such as notebooks and pens, check out off-campus stores. You will find excellent discounts at Family Dollar, Dollar General and K-Mart.

Take advantage of college loans. Sure, it means paying interest when you begin repaying the loans. However, you will not have to worry about making the tuition payments. Student loans may even give you some extra money each academic year. It also may, as long as you are wise with your spending, help you stretch your dollar further.

Do you actually need a car if you are going to college? Many freshmen may not be able to keep a car on campus because of limited parking. Even so, unless your parents buy the car and pay the insurance, you will be making payments each month. Before you decide on purchasing a car, figure out if you really need one. There are many shuttle buses that will take you where you need to go. You will get free transportation instead of using gas. You also get plenty of exercise when you walk to classes than drive.

Pennies may not seem like much. However, they can add up over time. Every time you buy something, put the pennies ad other loose change in a jar. When the jar is full, bring it to the bank and put it in a savings account.

By following all these money tips, you will live a frugal college life.