College expenses you can avoid this year
Updated on February 24, 2020
Attending college is more expensive this year, forcing students to find other ways to pay their tuition, e.g. sponsorships, federal student loans, and private loans. However, many students tend to forget other college expenses like housing, food and groceries, materials, and household items when planning their college budget.
Therefore, they end up spending more money on unnecessary expenses that are avoidable if they were organized upon joining college. Additionally, going to your dream University is your first step to financial freedom, and it teaches you how to manage your cash.
The decisions you make when spending money will make a huge difference in what you end up paying for college. Here are some college expenses you can avoid this year to save more money.
Peer pressure in college is at its worst and can make you purchase a vehicle to become popular among your friends. Unfortunately, a car is one of the biggest expenses because it requires regular maintenance, fuel, parking fees, and insurance.
The average cost of owning a car is $8,469, which is quite pricy for any student, especially if you are using your federal student loans on the vehicle. Most colleges have good public transportation, so, avoid buying a car at all means.
Since college students have several breaks during a school year, they often move a lot and leave campus during the summer. It can be tempting to rent storage space during this time to store your items until you get back.
However, storage can cost you an average of $91.14 each month with a self-storage company. Luckily, you can avoid this by;
• Keeping your belongings at a minimum on campus
• Transporting them back home (only if it’s cheaper than storage)
• Making a connection with someone living nearby to store your belongings
3. Overpriced books
Most colleges require students to read certain course materials and textbooks because the faculty decides what to teach. However, this doesn’t mean you go around buying every textbook the school wants you to have. Instead, you can borrow books from the library or share its cost with a classmate.
Contact StudentLoanify today to learn more about student loans and how to spend it wisely.