We're familiar with the idea of being low on cash -- it's all too common for college students fending for themselves for, quite possibly, the first time in their life. It's a commonly accepted term to be "broke" or "poor" as a college student, although some students float dangerously closer to true bankruptcy than others. Regardless, we're still strapping for money on a daily basis... and we haven't even hit the "real world" yet.
With that exciting future still lying ahead us, now is a good time to start learning how to save some of those nickels and dimes that could some day be the down payment on a new car, home or wedding.
Costs rise (see your local gas station) and, logically, so do expenses. We can't control inflation and, at this college age, we're limited in our means for serious income. So, it's on students' own shoulders to make ends meet. There are only a few options to resort to, especially when students are working hard, late and usually sleep-deprived.
With a little extra work and a wise eye, though, students can save hundreds over time by shopping smart.
Sure, things have changed since our parents were in school -- if nothing else, we have a larger selection of "discount" superstores like Wal-Mart and Meijer. "Super sales" or not, smart shopping is at the hands of the consumer, not the supplier. So much more can be done before students reach the check-out line, yielding savings superior to that of what the stores may claim we earn by shopping there.
The basics include comparing prices, clipping coupons and using generic over name-brand products. The easiest way to get into a routine is to start it early and practice it often, so pushing these little money savers off until "it really matters" is not be such a great idea for your long-term checking account balance. When you do head to the store, take a list and stick to it -- especially if you're shopping for food on an empty stomach.
Speaking of food, groceries and superstores offer a much cheaper alternative than the local chinese carry-out.
With students now having to provide their own meals, the option of eating out comes into play more often. Resist the urge to dine out and save the money to shop for more food at cheaper prices at your neighborhood grocery. The savings over time, not to mention the health benefits, will allow you a more pleasurable dining experience when you do decide to go out.
Finally, let us not forget one of the biggest setbacks to college students: books. As more and more students have started to realize, some of the best deals can be found not on campus, not near campus but actually on the Internet. Online auction, discount and bookstores sites provide great savings for purchasing and selling back books for class. Know your schedule and plan ahead -- the effort alone could save some students hundreds of dollars in a single school year.
There are more ways, but much like these hints above, smart shopping really boils down to simply being resourceful. Know your surroundings, know the competition and know how to play the system.
You'll save yourself a lot of cash and financial trouble in the long run.
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