43 Ways to Save Money as a Student: Up to $500 a Month

As a student, managing your finances can feel overwhelming. Consider this: nearly 70% of college graduates leave school with an average debt of over $30,000. Moreover, research shows that college students spend around $200 monthly on non-essential items.

Adopting innovative financial strategies and minor adjustments to your spending habits can significantly reduce costs and keep your budget in check.

In this article, I discuss different practical ways to save money as a student. Whether it’s through budgeting effectively, finding discounts, or exploring cheaper alternatives, you have the power to navigate student life without breaking the bank.

43 Ways to Save Money as a Student

1. Make a budget

Creating a budget helps you track your income and expenses, allowing you to see where your money goes. With a clear budget, you can allocate funds to essential needs while identifying areas for savings.

To start, list all your sources of income, including part-time jobs, allowances, and any financial aid. Next, outline your monthly expenses, such as tuition, rent, groceries, and entertainment.

You can use apps like Mint, YNAB (You Need A Budget), or EveryDollar to simplify this process. These platforms offer user-friendly interfaces that allow you to categorize expenses and visualize your spending habits.

Once you have your budget set up, make it a habit to review it regularly. Adjust your budget as necessary, significantly when your circumstances change. Keeping an eye on your finances will empower you to make informed decisions and save more effectively while enjoying your college experience.

2. Use student discounts

Many companies provide exclusive deals for students, allowing you to save on essential items like textbooks, technology, and entertainment. Always carry your student ID or use verification apps to access these discounts easily.

Several platforms and websites aggregate student discounts. Websites like UNiDAYS and Student Beans offer a range of deals from popular retailers.

In addition, many retailers offer discount programs for students. Check their websites or sign up for newsletters to stay informed about any offers. Using these resources can help you stretch your budget further.

(For example, the San Diego Zoo offers a 10% discount for students, while streaming services like Spotify often provide discounted subscriptions. Event ticket platforms sometimes grant students access to significantly lower prices.)

3. Buy old or used textbooks

New textbooks often come with high price tags that can strain your budget. By opting for used books, you can save a significant amount. Consider platforms like ThriftBooks, Amazon, and eBay to find used textbooks.

Many colleges also have online marketplaces or bulletin boards for students to buy and sell books. Additionally, check local bookstores or campus libraries, as they often stock used textbooks at a fraction of the original price.

Participating in textbook exchange groups on social media or apps like BookFinder can connect you with fellow students looking to sell their books.

4. Use public transportation

You can avoid fuel, parking, and car maintenance costs using buses, trains, or trams. Many colleges offer subsidized transit passes, which give unlimited travel for a low monthly fee or sometimes even free.

Consider using apps like Transit or Citymapper to plan your journeys efficiently. These platforms provide real-time schedules, route options, and alerts for delays.

Additionally, always explore student discounts on public transport, as many transit services offer reduced student fares.

5. Get a bicycle or walk for short distances

Unlike car ownership, which involves expenses like fuel, maintenance, and insurance, cycling requires minimal ongoing costs after the initial purchase of a bike. You can save money while enjoying fresh air and exercise.

Several programs can help you acquire a bicycle at a lower price. The Cycle to Work scheme allows you to buy a bike through your employer, often at a discount of 21% to 39%, depending on your tax rate.

Additionally, apps like Strava or MapMyRide can help you track your cycling routes and fitness progress, making the experience more enjoyable and rewarding.

Walking is another excellent option. It’s free, promotes physical health, and allows you to save money on transportation. Planning routes that prioritize walking can help reduce the need for other forms of transit.

6. Get scholarships

Scholarships offer free financial aid that does not require repayment, helping you reduce the burden of tuition costs. A significant percentage of students benefit from scholarships, which can come from various sources such as colleges, nonprofits, and community organizations.

To find scholarships, utilize platforms like Fastweb, Cappex, and Scholarships.com. These websites allow you to search for scholarships based on your skills, interests, and background.

Additionally, check with your school’s financial aid office for local scholarship opportunities. Consider joining groups or forums where students share tips and resources for finding scholarships, which can increase your chances of success.

7. Explore free activities

College life often comes with social pressures that can lead to unnecessary spending. However, many enjoyable activities are available without a price tag.

Taking advantage of campus events allows you to meet new people and have fun without straining your budget.

To find opportunities, utilize platforms such as your university’s event calendar or local community boards. Apps like Meetup or Eventbrite can provide listings of free events tailored to your interests.

8. Buy used items

Whether you need textbooks, clothing, or furniture, second-hand options allow you to save money without sacrificing quality. Many used items perform just as well as new ones, making this an economical choice.

Several online platforms can help you find used goods. Websites like eBay, Facebook Marketplace, and Craigslist offer extensive listings for various items.

Additionally, apps such as Depop and Poshmark specialize in second-hand clothing. Thrift stores and local consignment shops are great places to discover hidden gems at lower prices.

When purchasing used items, always check their condition and ensure you get a fair deal.

9. Use coupons

Coupons are available for various products, including groceries, clothing, and dining. They can be found on multiple platforms and apps.

Websites like RetailMeNot and Coupons.com offer printables, while apps such as Honey and Rakuten automatically apply promo codes at checkout. Additionally, follow your favorite brands on social media for exclusive deals and alerts about special promotions.

Consider organizing your coupons by category or store to streamline your couponing efforts. Use a simple system, such as a folder or binder, to keep them easily accessible. Many stores also accept digital coupons through their apps.

10. Use cash, not card

Relying on cash instead of cards can significantly help you manage your spending. When you use cash, you have a physical limit on what you can spend. This makes it easier to track your budget and prevents overspending.

To effectively implement this strategy, consider withdrawing a set amount of cash each week for discretionary spending. Before withdrawing cash, you can use budgeting apps like Mint or YNAB (You Need A Budget) to plan your budget.

These tools can help determine how much to deduct based on your anticipated expenses, ensuring you stay within your limits.

11. Choose housing wisely

Selecting the correct housing is crucial for managing your budget as a student. The costs associated with housing can significantly impact your finances. Cheaper accommodation options, such as hall-style dorms or shared apartments, can provide savings while still meeting your needs.

Consider using platforms and apps like Zillow, Apartments.com, and Roomster. These tools allow you to compare prices and find affordable housing.

Look for deals on student-specific housing websites or join local university groups where students post listings. Check for any added costs, such as utilities or internet fees, which can strain your budget.

12. Avoid debt

Managing debt is crucial for saving money as a student. High student loan debt can take years to repay and limit your future financial freedom. By avoiding unnecessary debt, you set the foundation for better financial health.

Start by creating a budget that tracks your income and expenses. Use apps like Mint or YNAB (You Need A Budget) to help you manage your finances effectively. Make informed decisions about necessary expenses and prioritize essentials over wants.

13. Shop for store brands instead of brand names

Opting for store brands can significantly reduce your expenses when shopping for groceries. These products offer quality similar to name brands but at a lower price.

You can easily use apps like Ibotta or Flipp to find store brand deals and compare prices. Consider creating a shopping list that includes store-brand items whenever possible.

This habit helps you remain focused and avoid impulse purchases that add to your spending. By consistently choosing store brands, you can save an average of 30% on your grocery bill.

14. Get a job

Having a job is one of the most effective ways to save money as a student. By earning your income, you can cover daily expenses, pay for textbooks, and have a little extra for leisure activities.

Consider part-time positions that suit your schedule. Many students find opportunities in retail, cafes, or campus jobs. Online platforms like Indeed, Glassdoor, or local job boards can help you search for positions.

Additionally, freelance work on websites like Fiverr or Upwork allows you to earn extra cash using writing, graphic design, or tutoring skills.

15. Cook your meals at home

Eating out or relying on takeout can quickly drain your budget. You can control portion sizes, reduce waste, and choose healthier ingredients by preparing your meals.

To get started, consider meal prepping. Set aside a couple of hours each week to prepare meals in advance. You can use apps like Mealime or Paprika to help plan your meals and create shopping lists.

Another great way to save is to use student discounts at grocery stores. Look for sales and use platforms like Flipp to find deals on essentials. Incorporate affordable and versatile ingredients like rice, beans, and seasonal vegetables into your cooking.

16. Prepare your coffee

Average coffee shop prices can quickly add up. Brewing your favorite beverages at home can allow you to enjoy them without the hefty price tag.

Start by investing in a good coffee maker and buying coffee beans in bulk. Brands available at warehouse stores often offer better prices. Additionally, consider using apps like Ibotta or Fetch Rewards to earn cash back on grocery purchases.

You can personalize your coffee to suit your taste. Making your flavored creamers is easy and cost-effective. Explore recipes online or use platforms like Pinterest for inspiration.

17. Track expenses

Tracking your expenses allows you to see where your money is going and identify areas for savings. Small expenses can accumulate quickly, so knowing them helps you make informed decisions.

Consider using budgeting apps like Mint, Goodbudget, or You Need A Budget (YNAB) to start tracking your spending. These platforms can help you categorize your spending, set limits, and visualize your financial habits.

You can also utilize spreadsheets like Google Sheets to create a personalized budget table, making it easy to update and access your financial information.

You can adjust your budget by continuously updating and reviewing your expense tracker. This practice will help you spend wisely and save money, making your college experience more financially manageable.

18. Avoid using credit cards

Using credit cards can lead to increased spending and debt accumulation, which can be detrimental to a student’s finances. It’s easy to lose track of how much you’re spending when you rely on credit.

Instead, consider using cash or debit cards for your purchases. This method forces you to be more mindful of your spending.

Consider alternatives like a secured credit card if you need to build credit. These require a cash deposit that serves as your credit limit. Use the deposit sparingly and pay off the balance in full each month. This approach builds your credit history while minimizing the risk of debt.

19. Use Free Amenities

Many colleges offer facilities such as libraries, fitness centers, and study rooms at no cost. By taking advantage of these resources, you can avoid unnecessary expenses associated with private memberships or subscriptions.

In addition to physical resources, consider exploring workshops and events hosted by your institution. These opportunities often cover academic skills, fitness classes, and social activities.

To learn about what your campus offers, visit your college’s website or download relevant apps that list student amenities and events.

20. Resell textbooks after use

Textbooks often come with high price tags, and once you have completed your courses, they can become a financial burden if left unused. By selling them, you recoup some of the initial investment and can allocate those funds for other necessities.

Several platforms and apps allow you to sell your textbooks effectively. Websites like eBay and Amazon will enable you to list your books for a fixed price or in an auction format.

Other options include BookScouter and Chegg, which compare buyback prices across various sites to get you the best deal. Local community boards, social media groups, or campus marketplaces can also be great places to find buyers.

21. Avoid grocery shopping on an empty stomach

Shopping while hungry can lead to impulse purchases that expand your grocery bill. When you’re hungry, your cravings can cloud your judgment, causing you to buy items you don’t need.

Try eating a small meal or snack before heading to the store to stay within budget. This simple strategy will help you focus on your shopping list and stick to essential items.

Consider using grocery list apps like AnyList or Out of Milk. These can help you organize your needs and track purchases efficiently, reducing the temptation to stray from your plan.

22. Shop during sales events

Shopping during sales events, such as back-to-school sales, holiday promotions, and clearance periods, is a powerful way for students to save money. These events often offer substantial discounts.

Look for platforms and apps highlighting student discounts and ongoing promotions to maximize savings. Websites like UNiDAYS and Student Beans provide verified discounts specifically for students.

Combining these discounts with sales can lead to remarkable savings, especially on essential items like electronics or textbooks.

23. Compare prices of expensive items online

Comparing prices online allows you to identify significant cost differences across various retailers. By investing a little time in research, you can find better deals, which adds to substantial savings.

Several platforms assist in this process. Websites like GoCompare and Compare the Market offer comprehensive price comparisons tailored to numerous categories.

Apps like Honey and ShopSavvy let you scan barcodes or browse products, instantly showing you the best prices. These tools can help you make informed purchasing decisions and avoid overspending.

24. Sell items you no longer need

Decluttering your space creates a more organized environment and generates extra cash. You can resell used textbooks, gadgets, clothing, or furniture to help cover your expenses.

Several platforms can assist you in this process. Consider using apps like eBay, Facebook Marketplace, Poshmark, OfferUp, and Depop. These apps allow you to set prices, negotiate with buyers, and choose how you want to be paid.

25. Save electricity

Energy bills account for a significant portion of monthly expenses, so making small changes can lead to substantial savings over time.

Consider using energy-efficient appliances like LED light bulbs and energy-star-rated devices. These consume less energy and help reduce your bills. You can also use smart power strips to minimize energy use from devices in standby mode.

Monitor your energy consumption with tools like energy monitors. These devices help you track which appliances use the most power. Some utility companies offer free online tools or apps for monitoring energy usage.

If your utility company provides time-of-use rates, run significant appliances during off-peak hours. This can cut your electric costs by 5-25%. Additionally, simple practices like unplugging chargers when not in use can make a difference.

26. Start collecting loose change in a jar

When you return from classes, empty your pockets and deposit coins into a jar. This habit creates a small cushion for unexpected expenses, making managing minor repairs or last-minute purchases easier.

Consider setting a goal for your change jar to make saving more engaging. For instance, challenge yourself to save enough for a fun outing or a special purchase.

Apps like Acorns or Qapital can complement your saving efforts. These platforms allow you to round up purchases to the nearest dollar and save the difference. Pairing digital savings with your physical coin jar can enhance your savings strategy.

27. Don’t buy a car

Buying a car can lead to significant expenses that many students may overlook. Insurance, fuel, maintenance, and parking fees quickly add up. Not owning a car can save hundreds, if not thousands, of dollars each year.

Instead of purchasing a vehicle, consider alternative transportation options. Public transit is often budget-friendly.

Many universities offer discounted or free transit passes for students. Additionally, rideshare services like Uber and Lyft can be economical for occasional trips.

Carpooling with classmates can also reduce costs. You can coordinate travel for classes or social events, splitting fuel expenses. Apps like Meetup can help you find students nearby to share rides. Another option is biking, which is low-cost and promotes health.

Consider car rental services like Zipcar or Turo if you occasionally need a vehicle. These platforms allow you to rent cars by the hour or day, offering flexibility without a long-term financial commitment.

28. Cut out unnecessary subscriptions

Subscriptions can add up quickly, often for services you don’t fully use. Identifying and cutting unnecessary subscriptions frees up funds for essentials.

Review your bank and credit card statements to compile a list of all active subscriptions. Look for services you rarely use or have forgotten about. Apps like Truebill and Trim can help you easily track and cancel unwanted subscriptions.

Consider switching to annual plans for your services. They often provide cost savings compared to monthly billing.

29. Use your bank overdraft carefully

A student overdraft typically has lower interest rates or might even be interest-free for a certain amount. However, relying on it can lead to overspending and debt if not appropriately monitored.

You should treat your overdraft as a safety net rather than a regular source of funds. Only access it during emergencies or when necessary.

Use apps like Mint or YNAB (You Need A Budget) to track your spending and alert you when you are close to exceeding your overdraft limit. Setting up alerts through your banking app can also help you better manage your finances.

30. Download Freeware

One effective way to save money is downloading freeware instead of purchasing expensive software.

Freeware includes programs for word processing, graphic design, and even antivirus protection that can help fulfill your academic needs at no cost.

These tools allow you to focus your budget on essential expenses, freeing up funds for textbooks, supplies, or leisure activities. You can efficiently complete your coursework and projects without financial strain by leveraging quality freeware.

31. Become a Resident Adviser (RA)

RAs typically receive free or discounted housing in exchange for their work, which can lead to substantial savings on living expenses. For instance, not having to pay rent can save you thousands of dollars throughout your college years.

To pursue this opportunity, check your college’s housing department or student employment services for openings. The application process often involves submitting a resume and interviewing.

Be prepared to demonstrate your leadership skills and ability to support fellow students. Additionally, platforms like Handshake can connect you with job opportunities on campus, including RA positions.

32. Visit the library

Libraries provide free access to many resources, including books, journals, and study spaces. Utilizing these resources can significantly reduce your spending on textbooks and research materials.

You can also use library services like interlibrary loans, which allow you to borrow materials from other libraries at no cost. Set up alerts for specific topics within your library’s platform to stay informed about new arrivals.

Consider apps such as Libby or Hoopla to borrow ebooks and audiobooks for free. These resources can enhance your learning while keeping your expenses low.

33. Sign up for a student-friendly bank

Many banks offer dedicated accounts designed to meet your needs. These accounts offer low fees, no minimum balance requirements, and access to thousands of ATMs. Using these accounts can avoid unnecessary charges that can quickly add up.

Additionally, many banks provide apps that easily track spending and savings goals.

Start by comparing online banks, using platforms like NerdWallet or CreditDonkey, to find the best student accounts. These tools can help you identify features that best fit your financial habits and support your savings journey.

34. Pay Your Bills on Time

Late payments can lead to additional fees and interest charges. These expenses can add up quickly, straining your limited budget. Timely payments help maintain a good credit score, which can benefit you in future financial endeavors.

Consider setting up automatic payments to ensure you pay your bills on time. Many banks and billers offer this feature, allowing seamless transactions directly from your account.

Valuable apps like Mint can help track your expenses and remind you of upcoming due dates. Creating a budget can also help manage your cash flow effectively, ensuring you have enough funds when bills are due.

35. Live with friends

Living with friends can significantly reduce your living expenses. By sharing rent and utilities, you lower individual costs, making housing more affordable. You’ll split the responsibility of bills, allowing you to manage finances more effectively.

Find suitable roommates using platforms like Roomster, Facebook Marketplace, or Zillow. Apps like Venmo or PayPal can simplify bill splitting and help avoid awkward conversations about money.

Establish agreements with your roommates on handling shared expenses, ensuring everyone is on the same page.

36. Limit luxury and spontaneous purchases

Impulse buying can quickly drain your budget, leaving little for essentials. By recognizing your spending habits, you can prioritize necessary expenses and save more effectively.

To limit these purchases, consider implementing a waiting period before buying non-essential items. For example, you could set a rule that you must wait 30 days before making a luxurious purchase.

This delay allows you to assess whether the item is genuinely needed and often diminishes the initial urge to buy.

37. Use cashback and rewards programs

Utilizing cashback and rewards programs can significantly reduce your spending on everyday purchases. These programs allow you to earn a percentage back on purchases made at various retailers, making it easier to save money over time.

Consider using popular cashback apps like Rakuten, Ibotta, or Honey. These platforms reward you for shopping online or in-store. Pair them with cashback credit cards to maximize your savings.

When you shop, always check for any available coupons or promo codes that can be combined with your cashback rewards. This stacking method helps you make the most of every dollar spent.

38. Buy in bulk

Purchasing more significant quantities of items often results in lower prices per unit. This strategy is especially effective for non-perishable food items, toiletries, and cleaning supplies.

Consider collaborating with roommates or friends to pool resources. Splitting the cost of bulk purchases, like toilet paper or canned goods, can make them more affordable.

Explore platforms like Costco or Sam’s Club, specializing in bulk items. Online options, such as Amazon’s “Subscribe and Save” feature, also offer discounts for regular purchases.

When grocery shopping, focus on staples like rice, beans, pasta, and frozen vegetables. These items have long shelf lives and can form the basis of many meals.

39. Start investing if you can

As a student, starting early can benefit you significantly due to the effect of compound interest. Even small amounts can accumulate and increase in value, making it a smart financial move.

To begin investing, consider using platforms like robo-advisors or investment apps, which simplify the process. Apps such as Acorns, Robinhood, and Betterment are designed for beginners and allow you to set up accounts with minimal amounts.

They offer features like automatic rebalancing and diversified portfolios, making investing less intimidating.

Establish a budget for your investments, even a modest monthly sum. Focus on your savings goals and opportunities, such as a Stocks and Shares ISA, which can offer tax benefits on your returns.

40. Use university-run health and fitness services

Many universities offer medical, counseling, and dental services at little to no cost. This access helps you save money and supports your overall well-being.

Campus fitness facilities often include gyms, group exercise classes, and sports clubs, typically at affordable rates. Check your university’s website or student union for information on memberships and free workouts available to students.

41. Buy Group Subscriptions

Many streaming services and software platforms offer significant discounts for group plans. This allows you to share costs with friends or classmates, substantially reducing expenses.

For example, platforms like Netflix and Amazon Prime provide group plans that can lead to significant savings when costs are split among multiple users. Consider coordinating with peers to set up shared accounts on services that you all use.

Apps like Splitwise can help you easily track and manage shared expenses. This strategy maximizes your entertainment and software access while minimizing costs.

42. Choose Summer Internships Over Vacation

Internships often provide a source of income, helping you pay for tuition or other expenses while gaining valuable work experience. This experience may improve your resume and increase your chances of securing a well-paying job.

You can find summer internships on LinkedIn, Internships.com, and Glassdoor. These sites offer opportunities in multiple fields.

You can also consider using specialized apps such as Handshake, which connects students with employers looking for interns. By prioritizing internships, you save money and invest in future career growth.

43. Search for free entertainment

Finding free entertainment is essential for managing your budget as a student. It allows you to enjoy activities without the added stress of financial strain. Many platforms offer free options, allowing you to explore various experiences.

Use streaming services like Tubi, Crackle, or public library offerings that provide free access to movies and TV shows. Check local community calendars for free events like concerts, festivals, or movie nights.

Apps like Meetup can connect you with group activities or interest-based gatherings to explore your city without spending much money.

Final Thoughts on Ways to Save Money as a Student

Saving money as a student is achievable with effort and the right strategies. You can make the most of your resources by implementing clever budgeting techniques.

Consider part-time work or side hustles to enhance your income. Many students find flexible jobs that fit their schedules, allowing for work and study.

Don’t forget to explore scholarship opportunities. Many institutions offer financial aid that can lighten your tuition costs.

Ultimately, every dollar saved contributes to a more comfortable student life. Stay disciplined and open to new ways to save. Your future self will thank you.

Frequently Asked Questions