Being a full time student and enduring the rising rates of college can be challenging. For many, living expenses is another detrimental cost that is thrown into their budget. Rent, tuition, groceries, utilities, and trying to balance all of the other costs of being a student away from home can become extremely overwhelming. Below are five tips on saving on living expenses in college.
FIND A SCHOOL IN AN AREA WITH LOW LIVING COSTS
You can create a basic way to save on living expenses by simply going to college or university in an area that has lower living expenses. This is the best way to ensure that you will be able to afford all four or five years of your college education without going too mad.
SIGN A LEASE FOR AN AFFORDABLE APARTMENT
While you may have a great summer job at the moment, you may have to quit or be released from your position once school starts. Think about all possibilities before signing a lease that is either out of your budget or nearing the tipping point.
GET RENTER'S INSURANCE
Renters insurance is important and usually inexpensive. Many landlords require renters insurance for both their safety and your own. This is a great way to ensure your assets and apartment are safe in the event of an emergency.
SHARE AN APARTMENT OR EVEN A ROOM
While many enjoy their privacy, many also enjoy financial freedom; which you will have more of if you share an apartment or even split your room. Rent will almost always be less expensive the more roommates you have. Sharing a room may seem difficult, but it’s one of the only options many have in order to be able to afford rent near their university.
Eating out can deplete your budget tremendously. It is imperative that you go grocery shopping and learn how to make your own meals. Shop smart by researching which grocery store near you has the best food. If you have multiple roommates you can also save money by sharing a Costco card and splitting the cost of food each month.