3 Wallet-Draining Expenses You Can Avoid As A College Student

College tuition fees by themselves can be a huge drain on your wallet but like it or not, this is not the only expense that you will have to bear as a college student. You will have to set aside a substantial amount to pay towards rent, food, school supplies, textbooks, personal expenses…the list can go on. If you are not careful, you could soon find yourself way in over your head with college expenses.

To avoid starting life after college deep in debt, it is absolutely crucial that you take stock of your finances right from the first day itself, and start cutting back wherever and whenever you can.

Here are some of the expenses you can reduce as a college student:

A student holding an empty wallet.

#1 Buying A New Set Of Text Books

New textbooks can be shockingly expensive. Instead of buying a new set at the start of the semester, start looking for used textbooks before the next semester starts. Most students will only get some money from selling their textbooks instead of having to just throw them away and you will have saved a bundle too. Win-win for both.

There are even new textbooks that you can use from the college library and save even more on textbooks.

#2 Buying The Coolest Gadget For One-Time Assignments

As you go through college, you will find you need to buy mountains of supplies, from expensive laptops and supporting software to assorted materials to complete assignments and projects and of course, those ubiquitous pens, pencils, erasers, markers, and other varied stationery. These ongoing expenses will leave you feeling like you have a hole in your wallet.

One way you can save a substantial amount is to go resist the temptation to buy the most expensive variation of the item. It’s an unnecessary expense. If you need to buy something for an assignment, pick up the economical version, especially if it’s something you are not likely to be using again. Your wallet will thank you.

#3 Splurging On Luxuries

So what exactly constitutes luxuries for a college student? The answer is everything that is non-essential. This means eating out several times a week, going to the most expensive salon for a spa treatment once too often, splurging on clothes, etc. Of course, these expenses will do much to boost your morale but think of the repercussions of all of these ‘instant gratification’ moments. You will have to pay the price for it all one day. You don’t have to give it all up and live a completely frugal lifestyle but toning it down a bit will help you feel good without putting too much of a strain on your wallet.

When it comes to any expenses while you are a college student, it is wise to practice moderation. Remember, every little bit counts and every dollar you save will add up to build and grow your savings slowly and steadily.

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