College is the perfect time to develop good financial habits and put money in your pocket. Learning to manage money on a tight budget, pay down debt, control spending, and make money may be among the best lessons you can get in college.
Being frugal is a badge of honor for college students and those who come from homes of modest means. As a college professor, my students often share how they spend less on books, entertainment, and food. Many of the tips below come from those discussions.
Parents, I encourage you to share our list with your college-bound students. Likewise, if you are on your way to college, there are ways your parents may be able to help you as well.
1. It would be best if you were working during the summer to have some spending money.2. Take Advanced Placement (AP) courses if offered in high school. Make sure to do well on AP exams to get full credit.
The College Level Examination Program (CLEP) offers 34 exams that cover intro-level college course material. With a passing score on one CLEP exam, you could pick up three or more college credits at more than 2,900 colleges and universities.
Don’t buy new textbooks, try used or even free textbooks. Rent your books from Chegg, Amazon, or Barnes & Noble. They may also sell your textbooks in ebook form.
Reach out to your classmates and ask for used books as early as possible. Ask your professors, as they may have a list of previous students interested in selling books.