Money-Saving Tips for College Students

Ace a course on ways to save money.

Put these tips to use and put more money in your pocket. 

Save some dough


Find out how to cut back on food and beverage expenses. 

Find the right bank

You want a place that eliminates costly fees, like Paducah Bank!

Shop smart

Discover where the discounts are. 

Major in savvy student finances

Do you attend Colossal State U. or Cozy Liberal Arts College? Are you majoring in philosophy or particle physics? Perhaps your true passion is the trombone. Or the 200-meter freestyle.

College students come in all varieties. But coast-to-coast, everyone’s coping with the high cost of higher education. We’ll assume that everyone is aggressively applying for financial aid and private scholarships. Here are some other tips for making and saving money while earning your degree:

Bank Brilliantly
  • Look for low fees. Five dollars a month for an account service fee? Three bucks per ATM transaction? Those bank fees can add up to real money. Come to a Paducah Bank branch in Paducah or Louisville, Kentucky, where you can get checking accounts without the fees. 
  • Leverage your deposits. Some students struggle to keep their account balances above zero. Others have a steady income or are sitting on savings targeted for next year’s tuition. If that’s you, let that money make even more money! It only takes a few minutes to move cash into interest-bearing accounts such as a Money Market account or Certificate of Deposit.
  • Pick the right card. Because college students have very little credit history, it’s easy to end up with a credit card that charges a super-high interest rate. Use your online skills to shop around for an entry-level card with a fair rate. Then make regular payments to keep your balance down and interest payments low.
Smart Living Choices
  • How many roommates? Room and board rates at many four-year schools are now well north of $10,000 per year. Privacy can be pricey. You can save hundreds of dollars by agreeing to live in a triple or quad. Sure, it can be a bit cramped, but you get a built-in social network.
  • Renter beware. Is apartment living cheaper than a dorm room? It depends on housing costs near your college. Many students end up paying more than expected for that off-campus crib because they didn’t factor in the cost of providing their own meals, paying utilities and committing to a 12-month lease.
Eating Up Your Budget
  • The meal deal. There’s nothing cheap about the eats in most college dining halls. One survey put the average cost at about $9 per meal. But many schools offer a menu of dining plans. You can save $700 or so a semester if you choose a 10-meal weekly plan instead of a more traditional 19- or 20-meal plan.
  • Home cooking. Where do you eat the rest of the time? Go beyond burgers and pizzas. The cheaper choice is to hit the local market and stock up on simple, healthy foods – ranging from fruit and yogurt to soups and noodles – that can be kept in your dorm fridge and prepared in a microwave.
  • Brew your own. College students, like adults, fritter away big bucks on designer coffees. If you buy a $4 latte every day for a 15-week semester, that comes to $450. You can get good joe for a fraction of that by investing in a single-serve coffee maker for your dorm room or apartment.
Consumer Savvy
  • Sale away. No, you don’t have to clip coupons like Grandma. Just scout out stores near campus that tout student discounts on products and services. Or whip out your smartphone and looks for websites and apps – like, Groupon and the Krazy Coupon Lady - that connect you with great deals.
  • Digital marketplace. Don’t assume that big store with the famous logo has the best deals on computers. Many campus bookstores offer steep discounts on laptops and software. If you’re committed to a certain brand, check out Apple’s education discount.
  • Turn the page. On average, students pay about $1,250 a year for textbooks and supplies. Cut down that cost by buying, renting and selling textbooks at your campus bookstore or online. 
Entertaining Thoughts
  • Cut the cord. Most students don’t have enough TV-watching time to justify the cost of cable. Streaming services like Netflix and Hulu can be had for about $10 a month with the added benefit of allowing you to watch favorite shows on your computer – and on demand.
  • Stepping out. A night at the local cineplex or trendy nightclub can be loads of fun, but also expensive. Many campuses feature their own film series, showing recent releases and cult classics at cut-rate admission prices. Another option is to attend an on-campus play or concert by a student ensemble. That’s a great way to save money and support your classmates at the same time.
Get to Work
  • Not-so-odd jobs. So you’ve done everything possible to get the most bang for a buck? It’s time to make a few more bucks. No need to flip burgers or clerk at the local mall. Most campuses have an online job board with more interesting options, ranging from library attendant and teaching assistant to peer tutor and fitness instructor.
  • Get a gig. Is your schedule too crammed for a permanent job? Join the gig economy. There are dozens of websites and apps – you can start with Instacart, Postmates, TaskRabbit and Wag - that can connect you to piecemeal work ranging from grocery shopping for others to walking dogs.
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