Learning how to save money while you’re in college is an important lesson for your long-term financial outlook. But with the rising costs of tuition, books and life as a student, it can be hard to save money. We’re here to help.
Keep reading to learn how to keep the cost of college life within your budget.
Tips for Saving Money in College
Limit eating at restaurants or grabbing sandwiches at local shops or fast food spots to once a month.
Get a meal plan that fits your needs and schedule. If three meals a day at the campus cafeteria is too many and one is not enough, stock up on healthy snacks to keep in your dorm or apartment.
Buy a coffee maker. Your new coffee maker will pay for itself when you stop spending cash every day at the local coffee shop.
Stay hydrated (and healthy) with a reusable water bottle filled with tap water. Buy a filter for better taste. You’ll save a bundle.
Living in the dorms isn’t always less expensive than off-campus housing. But there are hidden costs to living in an apartment that you should consider. Paying for utilities, transportation, food and furniture in addition to your rent can make off-campus housing expensive. Be sure to include all of these expenses when comparing the costs of on- and off- campus housing.
Spend and Save Cheap
Open free checking and savings accounts. Look for banks that don’t charge fees for opening/servicing accounts, falling below a certain minimum balance, or withdrawing your money at ATMs.
Get a credit card that offers a solid reward program.
The Best Savings Accounts for College Students
Synchrony Bank can help you save money while you’re in college. Open a Synchrony Bank high yield savings account and pay no monthly service fees no matter what your balance is. No minimum balance means you have access to all of you money when you need it.
With easy access online or by phone, great customer perks and award-winning products, you can feel confident that Synchrony Bank is here for you.
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*ANNUAL PERCENTAGE YIELD (APY): All APYs are accurate as of 05/25/2018.
APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For Money Market and High Yield Savings Accounts, the rate may change after the account is opened. For CDs, a minimum of $2,000 is required to open a CD and must be deposited in a single transaction. A penalty may be imposed for early withdrawals. After maturity, if you choose to roll over your CD, you will earn the base rate of interest in effect at that time. The APY shown for CDs and IRA CDs is for a 60-month CD with a balance of at least $25,000. Click here for all CD rates and terms offered.
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NATIONAL AVERAGE: National Average APYs are based on specific product types of top 50 U.S. banks (ranked by total deposits) provided by Informa Research Services, Inc. as of 3/01/2017. CD Rates: Average APYs are based on certificate of deposit accounts of $25,000. High Yield Savings Rates: Average APYs are based on High Yield Savings Accounts of $10,000. Money Market Account Rates: Average APYs are based on Money Market Accounts of $10,000. Although the information provided by Informa Research Services, Inc. has been obtained from the various institutions, accuracy cannot be guaranteed. Please click on "Learn More" above for additional disclosures for each product.