A Student’s Guide to Budgeting | Cleveland Bradley County Teachers Federal Credit Union

There’s no doubt about it. The expenses of higher education continue to rise at a gradual, constant rate.

In fact, the average debt amount of a four-year college graduate who took out loans in 2019–2020 was $28,000.

Debt is all too easy to fall into, but much more difficult to get out of. Below are a few tips on how to save from our Cleveland Bradley County Teachers Federal Credit Union team.

Buy Used Textbooks

As the costs of college continue to rise, so does the price of textbooks. The average student spends between $628 an $1,471 per year on textbooks alone.

If you buy used versions of the same books, it is common to save anywhere from 25% to 50% of the original price.

Additionally, many courses will allow you to buy the previous versions of a textbook. Because it is typical for these books to be updated annually, the variance in their content is not usually subject to drastic change year to year.

Maximize Campus Amenities

Schools will commonly offer free or discounted services to all enrolled students. Because the scope of these offerings is not always apparent, it is important to take the time to explore your campus and everything it has to offer.

From counseling to gaming to discounted healthcare services, these amenities are already being paid for by your tuition. It’s a good idea to put them to use, and it will definitely save you tons in the long run.

Utilize Student Discounts

In many college towns, it’s common for many of the businesses to offer a student discount. At stores, restaurants and other local businesses, all you need is your student ID card to start saving.

These businesses want to increase their earnings, and students who are on a budget get to save. Student discounts are a win-win for everybody. So, when you visit a store, be sure to ask if they offer one.

When it comes to being a student, your primary focus should be your classes and doing well in school to prepare for the future! But saving money is a strategy you need to focus on, too.

Taking advantage of small budgeting hacks can add up to big wins in the long run.

If you’re looking to get set up with a banking system that works for you, contact us today to learn more.