Here's How To Manage Your Money As A College Student

College students have to pay for their books, travel expenses and other bills out of their pockets. Further, college students often spend on partying, eat out or just hang out with friends. Ultimately, one way or the other college students end up broke! But it is really important to manage money properly as a college student.

Not just in college life, management of money is important in life too. Why? Because money management beneficial throughout life. Firstly, money management helps you have a secure future. If you have enough savings then you can easily spend it on important needs of life and for your long term goals. Secondly, it helps you become independent. Why rely on your parents when you can yourself finance yourself?  Thirdly, you are prepared to face any unforeseen circumstances. And there many more benefits. So it’s better to start managing money in college and develop this habit. Here are some tips to manage money:

Key Takeaways:

• One of the ways to save money is by buying old books. Whereas you can earn extra money by selling old books.
• You can earn money by doing part-time jobs and side business. Stipend internships are also another way to earn money.
• Carpooling and auto- pooling are also ways to save money. Also, by buying products during the sale season, you can save a lot of money.

Tips for managing money

One of the best ways to earn back the money you lost is by selling old books. Once the semester is done you don't need books of that semester. So, why not earn back some of the money you lost? There are many seniors who sell their old books at a lower price. You can always save money by buying old books. Always search the library first; if the book is available at the library you can avoid buying the book. Jyoti, a Gargi college student says, “I saved 2000 bucks by buying old books.”

“Pooling rides are a cheap way to ride as compared to personal rides.”

One of the other ways to save money as a college student is by sharing. Hangout with your friends and then divide the bill. Also, students living in PG or hostels should live with roommates as then it is easy to pay the rent. Further, you can always share your Netflix subscription. Also go in for carpool and auto- pool. Pooling rides are a cheap way to ride as compared to personal rides. You don't want to remember college life as a phase of paying bills.

Read also: Why women need to have conversations about money and finance

Our Ideas Editor, Kiran Manral said that during her college days she used to buy stuff at cheap rates from Fashion Street and sell them to college students and earn extra for herself.

Internships are necessary to have an edge over others. So, why not do stipend internships and earn a little? You easily find stipend internships on Internshala or Awign. Further, you can also earn money by doing part-time jobs and side business.  Our Ideas Editor, Kiran Manral said that during her college days used to buy stuff at cheap rates from Fashion Street and sell them to college students and earn extra for herself.  You can also earn money by giving tuitions to junior students.

“I save a lot of money by buying products during the sale season of H&M and Zara. In fact, I always prefer to buy goods during the sale season.”

A student of NorthCap University student said: “I save a lot of money by buying products during the sale season of H&M and Zara. In fact, I always prefer to buy goods during the sale season.” During the sale season, many brands sell their products at heavy discounts. This is a better option than buying products at their original prices.

Read Also: No, Married Working Women Don’t Spend All Their Money On Themselves

Mansi is an Intern at SheThePeople.TV