There's a reason the "broke college student" is a recurring joke, even though to actual broke college students, it's not that funny. Here are five easy ways to cut down on spending and have a little extra cash.
1. Make coffee from home instead of buying it every weekday. Every college student needs that cup of coffee to get them through the day. A container of Maxwell Original medium roast coffee costs around $9 and will last a full year if you drink one 6-ounce cup of coffee every weekday. Instead of spending $3.25 on that tall chai tea latte every day, you could be saving approximately:
Week: $16
Month: $64
Year: $836
2. Sell that old iPhone you have laying in your drawer. Online retailers, such as Gazelle and Amazon, and service providers, such as Verizon, AT&T and T-Mobile, will exchange your old iPhone for cash or a discount toward a new purchase.
Sell an iPhone 5 16GB for:
Gazelle: $65
Amazon: Up to $106.71
Verizon: $200 in-store credit
AT&T: $200 credit toward a new phone
T-Mobile: $66
3. Use a reusable water bottle. The cost of a reusable water bottle is between $15 and $25, and it's a one-time purchase. Rather than spending $1.50 every day on bottled water, that purchase could save you $547.50 a year.
4. Ask about student discounts. Many retailers near college campuses offer student discounts when you show your college ID. Since stores don’t advertise it, present it at the register when you check out. Places with discounts include:
J. Crew: 15% off
Charlotte Russe: 10% off
AMC Theatres: Student discounts on Thursday nights
Subway: 10% off
5. Coupons, coupons, coupons. This is the easiest and often most-overlooked way to save money. Coupons are now even easier to come by, and gone are the days of cutting coupons. Before going out or shopping, look to see what coupons are available to you. Websites and apps offer free coupon codes which can be pulled up on your phone at the register. These can also be found by simply typing the name of the retailer into Google.
Some apps and websites that offer coupons include:
retailmenot.com
coupons.com
groupon.com
thekrazycouponlady.com
redplum.com
Even trying one of these five strategies will save you a good amount of money — money which can be used for better purposes.