{"id":2150,"date":"2016-09-22T21:31:12","date_gmt":"2016-09-22T21:31:12","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/?post_type=chapter&#038;p=2150"},"modified":"2020-07-29T23:16:47","modified_gmt":"2020-07-29T23:16:47","slug":"text-saving-strategies","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/chapter\/text-saving-strategies\/","title":{"raw":"Saving Strategies","rendered":"Saving Strategies"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Objectives<\/h3>\r\n<ul>\r\n \t<li>Define\u00a0savings opportunities for college students<\/li>\r\n<\/ul>\r\n<\/div>\r\n<img class=\"wp-image-2151 alignright\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/605\/2016\/09\/22212949\/15065845223_3647f1189a_z.jpg\" alt=\"Plastic jar full of pennies sitting in front of a window\" width=\"351\" height=\"234\" \/>Whether you are starting college as a single eighteen-year-old or you are older, working, and raising a family, there's a set of basic financial strategies that can help you lower your expenses and save money while you're in school. Analyzing your spending habits (as you just did) is the first step. Next, you can try the following:\r\n<ul>\r\n \t<li><strong>Create a detailed budget<\/strong>: Budgets will enable\u00a0you to treat yourself while avoiding overspending. For example, you might allot $50 a month for going out with friends. If you\u2019ve already spent $50, you should find alternative recreational activities for the rest of the month so you don't have to borrow money that you set aside for other expenses.<\/li>\r\n \t<li><strong>Cut down on meal costs<\/strong>: Looking for deals and using coupons at grocery stores will save more money than eating out. Students living in dorms may\u00a0not have a lot of space and supplies\u00a0for cooking, but they may\u00a0still have room for a refrigerator and coffeemaker to avoid overspending on snacks and trips to Starbuck's.<\/li>\r\n \t<li><strong>Save on transportation<\/strong>: Cut down on the cost of gas (or get rid of your car altogether) by walking to class, riding a bike, or using public transportation. Check to see whether your college offers free or reduced-price student bus\/train passes.<\/li>\r\n \t<li><strong>Look for discounts and used items<\/strong>: As long as a textbook isn\u2019t outdated, you\u00a0can often purchase used or discounted copies online or from other\u00a0students. Need to furnish a dorm room or off-campus apartment? You'll save a lot money by borrowing household goods from friends and family or by\u00a0purchasing them from secondhand stores.<\/li>\r\n \t<li><strong>Apply for scholarships and minimize loans<\/strong>: To repeat, scholarships don't have to be repaid, and they don't rack up interest. Do your best to apply for everything and anything that you qualify for, scholarships-wise. Winning a scholarship can have a big impact on your budget and financial health.<\/li>\r\n<\/ul>\r\n<h2>Contribute!<\/h2><div style=\"margin-bottom: 8px;\">Did you have an idea for improving this content? We\u2019d love your input.<\/div><a href=\"https:\/\/docs.google.com\/document\/d\/1OAgk3kbZy-u4VHiRhm_KUw4jiG1uRKw6GI067lotEJ4\" target=\"_blank\" style=\"font-size: 10pt; font-weight: 600; color: #077fab; text-decoration: none; border: 2px solid #077fab; border-radius: 7px; padding: 5px 25px; text-align: center; cursor: pointer; line-height: 1.5em;\">Improve this page<\/a><a style=\"margin-left: 16px;\" target=\"_blank\" href=\"https:\/\/docs.google.com\/document\/d\/1vy-T6DtTF-BbMfpVEI7VP_R7w2A4anzYZLXR8Pk4Fu4\">Learn More<\/a>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Objectives<\/h3>\n<ul>\n<li>Define\u00a0savings opportunities for college students<\/li>\n<\/ul>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2151 alignright\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/605\/2016\/09\/22212949\/15065845223_3647f1189a_z.jpg\" alt=\"Plastic jar full of pennies sitting in front of a window\" width=\"351\" height=\"234\" \/>Whether you are starting college as a single eighteen-year-old or you are older, working, and raising a family, there&#8217;s a set of basic financial strategies that can help you lower your expenses and save money while you&#8217;re in school. Analyzing your spending habits (as you just did) is the first step. Next, you can try the following:<\/p>\n<ul>\n<li><strong>Create a detailed budget<\/strong>: Budgets will enable\u00a0you to treat yourself while avoiding overspending. For example, you might allot $50 a month for going out with friends. If you\u2019ve already spent $50, you should find alternative recreational activities for the rest of the month so you don&#8217;t have to borrow money that you set aside for other expenses.<\/li>\n<li><strong>Cut down on meal costs<\/strong>: Looking for deals and using coupons at grocery stores will save more money than eating out. Students living in dorms may\u00a0not have a lot of space and supplies\u00a0for cooking, but they may\u00a0still have room for a refrigerator and coffeemaker to avoid overspending on snacks and trips to Starbuck&#8217;s.<\/li>\n<li><strong>Save on transportation<\/strong>: Cut down on the cost of gas (or get rid of your car altogether) by walking to class, riding a bike, or using public transportation. Check to see whether your college offers free or reduced-price student bus\/train passes.<\/li>\n<li><strong>Look for discounts and used items<\/strong>: As long as a textbook isn\u2019t outdated, you\u00a0can often purchase used or discounted copies online or from other\u00a0students. Need to furnish a dorm room or off-campus apartment? You&#8217;ll save a lot money by borrowing household goods from friends and family or by\u00a0purchasing them from secondhand stores.<\/li>\n<li><strong>Apply for scholarships and minimize loans<\/strong>: To repeat, scholarships don&#8217;t have to be repaid, and they don&#8217;t rack up interest. Do your best to apply for everything and anything that you qualify for, scholarships-wise. Winning a scholarship can have a big impact on your budget and financial health.<\/li>\n<\/ul>\n<h2>Contribute!<\/h2>\n<div style=\"margin-bottom: 8px;\">Did you have an idea for improving this content? We\u2019d love your input.<\/div>\n<p><a href=\"https:\/\/docs.google.com\/document\/d\/1OAgk3kbZy-u4VHiRhm_KUw4jiG1uRKw6GI067lotEJ4\" target=\"_blank\" style=\"font-size: 10pt; font-weight: 600; color: #077fab; text-decoration: none; border: 2px solid #077fab; border-radius: 7px; padding: 5px 25px; text-align: center; cursor: pointer; line-height: 1.5em;\">Improve this page<\/a><a style=\"margin-left: 16px;\" target=\"_blank\" href=\"https:\/\/docs.google.com\/document\/d\/1vy-T6DtTF-BbMfpVEI7VP_R7w2A4anzYZLXR8Pk4Fu4\">Learn More<\/a><\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-2150\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>College Success. <strong>Authored by<\/strong>: Jolene Carr. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/flic.kr\/p\/oXjoU8\">https:\/\/flic.kr\/p\/oXjoU8<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Image of pennies. <strong>Authored by<\/strong>: Global Panorama. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/flic.kr\/p\/oXjoU8\">https:\/\/flic.kr\/p\/oXjoU8<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-sa\/4.0\/\">CC BY-SA: Attribution-ShareAlike<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":19,"menu_order":12,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"College Success\",\"author\":\"Jolene Carr\",\"organization\":\"\",\"url\":\"https:\/\/flic.kr\/p\/oXjoU8\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Image of pennies\",\"author\":\"Global Panorama\",\"organization\":\"\",\"url\":\"https:\/\/flic.kr\/p\/oXjoU8\",\"project\":\"\",\"license\":\"cc-by-sa\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"52f5ce22-e48d-496b-a785-1b1313776e45, 124ad1e0-e1b2-415a-98e3-87adfe9de7bf","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-2150","chapter","type-chapter","status-publish","hentry"],"part":135,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/pressbooks\/v2\/chapters\/2150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/wp\/v2\/users\/19"}],"version-history":[{"count":5,"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/pressbooks\/v2\/chapters\/2150\/revisions"}],"predecessor-version":[{"id":3615,"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/pressbooks\/v2\/chapters\/2150\/revisions\/3615"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/pressbooks\/v2\/parts\/135"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/pressbooks\/v2\/chapters\/2150\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/wp\/v2\/media?parent=2150"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/pressbooks\/v2\/chapter-type?post=2150"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/wp\/v2\/contributor?post=2150"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/waymaker-collegesuccess\/wp-json\/wp\/v2\/license?post=2150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}