Frugal Findings: College Student Edition

Many people recognize the old stereotype that every college student is stressed and
penniless. Now, have you ever challenged that narrative? On February 15th, QR codes were
shared around campus that, once scanned, redirected the user to a survey where they could
comment anonymously. Students were asked how they save money during their university years.
To my surprise, many individuals shared how they save money in differing ways that work for
them.

“To begin, I like having an excellent reason to save. For instance, making sure I can get
gas, keep my phone on, and have enough left to pay for tuition are strong motivators,” one
student said. “Saving without motivation is almost impossible.”

Finances throughout these years are already challenging, but many students face the
encounter of having to pay for multiple bills and living expenses. For some, even their own
tuition must be accounted for.

“I budget my money using paper and pen. Then, putting the corresponding money into
different saving accounts,” an anonymous commenter wrote. The old-fashioned way of pen and
paper could help you remember what you save and keep you accountable for the money you put
into your accounts.

The most significant things I spend money on are food, coffee, and gas. At least once a
week, I believe in granting myself grace. If I finish a challenging exam or have a particularly
rough day, I let myself indulge in something small. This typically ranges from purchasing
something inexpensive online to getting my favorite iced coffee and a pastry. Such tactics help
maintain my future urge if I want to spend. Staying on campus to eat and making coffee in my
dorm have helped my bank account tremendously. Not purchasing name-brand items
significantly reduces the price when grocery shopping. Companies have their own, notably much
cheaper, brand for essentially the same product. The next time you shop for groceries, pick up
some store-brand items to cut your bill.

Another student notes, “I shop at Dollar Tree, eat at the Den/Caf, and do Door Dash on
the weekends.”

Expanding on side hustles, some undergraduates have an in-dorm hair salon where they
cut people’s hair for some extra cash. If this is not your forte, DoorDash is common among
university students. Picking up and delivering food is easy and fast cash. If you have a vehicle,
the money you earn can go back into the fuel you have spent driving. Do not worry; I, too, have
succumbed to the temptations of modern food delivery.

Another money-spender can include clothes—the idealistic view of looking fashionable
on campus is a thought most students have every morning. Nowadays, a basic shirt can cost you
over 25 dollars. The lower side of that, reasonably, is about 15 dollars. Both costs are way over
what it should be to have a necessity.

A widespread phenomenon among the youth is thrifting—multiple comments flooded in
from the survey mentioning this tactic. The best way to put it, you get more for less. With
thrifting, you can find stylish clothing at a lower price, ideal for college students. I have many shirts, pants, and accessories bought from a local thrift store. The quality of clothing (among
other things) is solid, as well as the price.

All in all, many students have fantastic ideas and strategies for saving their money. From
eating on campus, shopping for store-brand items, and thrifting, you will indeed find a new way
to cut down. These can be tough years for students, but each one is pushing through and setting
their selves up for a plentiful future.