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How to Live like a College Student

Ways to Make Even the Smallest Budget Stretch

By K. Bamforth, published Dec 30, 2006
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Are you a college student or even a recent graduate still looking for your dream job? College students are notorious for having slim bank accounts, and while most have adjusted to the necessity of frugal living, there are some students who still try to live above their means. Here are some tried and true tips for making the most of your part-time job or semester's allowance.

Live on campus if you can. Many undergrads live on campus their freshman and sophomore years, and then make the move to off-campus living when they hit upperclassman status. Bite the bullet and stay in the dorms those last two years and enjoy the convenience of having just one bill that includes cable, utilities, and most of the time, food. If you're already living off campus, consider taking advantage of campus food services. Most colleges provide options for special meal plans for commuter services that allow you to eat between classes and save the money you'd normally spend eating out or on groceries. Most of the time, campus food plans will be much cheaper than eating at home, and you have the added benefit of unlimited leftovers.

Forgo the car and take the bus instead. Rather than buying a new or used vehicle and incurring all the expenses that come along with it (including gas, insurance and maintenance), consider using public transportation instead. Most cities have decent bus programs that will take you anywhere you want to go, and you can save even more money by buying a monthly pass instead of paying every day. And, you might even fight off some of the "freshman 15" with the extra walking you'll have to do in case the bus doesn't drop you off at the front door of wherever you're trying to go.

Takeaways
  • Live on campus if you can, or at least take advantage of a campus meal plan that's probably cheaper than cooking at home or eating out.
  • Utilize public transportation rather than buying a new or used car.
  • If you already live off campus, forgo luxuries like movie channels and opt for basic cable instead.
Did You Know?
Most college campuses have great intramural programs or student activities that cost nothing for full-time students. These are great for socializing with friends but maintaining your budget.
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Good tips!

Posted on 06/09/2007 at 9:06:00 PM

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