The following article is a guest post by Michelle Fabio, who writes about online nursing programs at OnlineNursingProgram.net.
For college students, the summer is a great opportunity to get a head start on financing the upcoming school year — or it can mean frittering away what you’ve worked hard to save the previous year. Hopefully you’re determined to fall into the former category and see the next few months as a building block rather than a stumbling block for your financial future.
If so, here are seven ways you can save money over the summer:
1. Work.
Obviously the best way to keep your cash flow flowing throughout the summer is to get a job and have money coming in.
Whether it’s mowing lawns or working at a friend’s mother’s law office, make sure you have something to do so you’re not only spending money, you’re also replacing it — and possibly even saving up for the fall.
2. Stay away from late night fast food.
Aside from being the healthy thing to do, staying away from fast food is also money-smart. Yes, it’s easy to pull into a drive-thru when you get hungry on a late summer evening, but those overpriced milkshakes and fries add up fast.
Guard against late night fast food binges by making sure you have plenty of snacks in the house — even if you’re still not going to grab a piece of fruit, a bag of frozen french fries will be cheaper than stopping at a fast food place.
3. Volunteer.
If you volunteer, you won’t have money coming in, but at least it’ll keep you busy. One of the big reasons students spend more money than they should throughout the summer is because they have nothing else to do.
Think about it, what do you do when you’re bored in the summer? Go to the mall? Go out to eat? Go grab a five-dollar iced coffee? Stop boredom in its tracks by filling up your time with volunteering at a children’s summer camp, nursing home, or whatever interests you — as an added bonus, you’ll be helping others in the process.
4. Take classes at a local college.
Yes, you’ll be spending money to take the class, but it might be cheaper than taking courses at your university and even help you graduate sooner, saving you money overall.
And again, you’ll be keeping yourself busy between going to class and studying, so that will leave you far less time to be bored and wondering where you can spend money.
5. Travel frugally.
For many students, summer is a time for taking off and seeing and experiencing new people, places, and things — as well it should be so long as you can afford it. Decide first how much money you have to spend on a vacation and then pick your destination.
When choosing where to go, don’t forget all the interesting places close to home that maybe you have never visited, or you’ve only seen as an elementary school student. Before your trip, budget everything (transportation costs, accommodation, meals, admission fees, extras like souvenirs, etc.), and stick to it as closely as possible.
6. Start your own tip jar.
Yes, this is common sense, but a great way to save money is by literally putting it away somewhere and not touching it.
Start your own tip jar by throwing in loose change, or, consider putting in each and every five-dollar bill you receive; you’d be surprised at how quickly they add up.
7. Get school books early.
As summer winds down and you start thinking about school again, consider getting a jump start on the semester buy buying your books ahead of time, preferably online for maximum savings.
Check sites like BigWords.com and AddALL.com for price comparisons, consider renting books at Chegg.com, get free books at FreeloadPress.com, or even start reserving books at your school or local library.
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Finding summer help these days is really tough, you have to just take whatever you can get, even if it isn’t the most glorious gig. My younger bro just finished his freshman year and is struggling to get hours at his current under the table gig. He is looking for other work as well but its pretty bare out there. Craigslist.org is a great resource if you hop on that site first thing in the morning at 7 am.
I wish most students worked and volunteered during the summer.
Great advice! I wish I would have known these things as well when I was a freshman! When purchasing textbooks, I also check out BookDealFinder.com. They have always saved me $200 or more per semester!
In response to Joe, I do agree. Only issue is that in this economy MANY students are apply to 11 jobs without a single interview. More and more summer employment is becoming difficult to come by. More and more students, however, are looking for ways to sell something to their friends and family (like lawn mowing or web design services).
Hopefully next summer it will be easier to find a job!
Thanks so much for the comments (and Steven for that link!) and *yes* let’s hope finding jobs becomes easier for everyone soon….
Something else to keep in mind about summer employment is that you shouldn’t forget entrepreneurship; lawn mowing/landscaping, babysitting, dogwalking, cooking/baking, web design, etc. Brainstorm about your talents and what you like to do and think about starting a business around it. You never know when or where you’ll find your passion….
Good advice!
The tip jar sounds great of course
I will try to work much, it keeps me from spending money and it makes the money come in, can it be better?
Tip seven can save you tons of money! Buying online early will really help you keep your hard earn cash from Tip 1! Textbook prices spike online in mid August so if you know what classes you are going to take and what books you need it will save you a bundle if you buy them in July!!
Good tips, all of them… and they can definitely lead to saving money! We are going to be doing all of them this year, I think, although I will be studying for a board exam and not actually taking a class. And I don’t need to buy any more books for next year, thank goodness. I hate buying textbooks! You practically have to pillage your bloody retirement annuity just to get everything on the book list these days.
Jerry
You can also check out http://www.DealOz.com , DealOz compares 200 bookstore prices and free discount coupons too. Their coupons are valid and have saved over $500 on my textbooks.
The corollary to #7 is to remember to sell back your books when the semester is over, and to remember to do it early, before the publisher comes out with a new edition and the price you can get goes through the floor.