Introduction

In most cases, college students are faced with financial challenges. This mostly happens to learners from poor backgrounds. As a result, students should target to save money during their learning periods. In college, there is a lot of peer influence. People from different social backgrounds live together. As a result, those who are not financially stable can be tempted to spend more by wealthy students. In most cases, college students live far from their parents and relatives. As a result, they do not have anybody to guide them on their spending. They have the full responsibility to manage their funds and lives while studying. This implies that learners in college should look for ways of saving money so that they do not face financial challenges. In some cases, college students end up facing economic difficulties, not because they do not have money, but because they are not able to manage it. There are various ways in which college learners can save money while studying.

1. Controlled suspending can help to save money in college.
2. Reduce the number of textbook one purchases while in college because they will only be used for a short time.
3. A student should consider using the learning materials provided by the library of the institution.
4. Learners can consider renting books, which is cheaper, rather than buying them.
5. Students should co-buy textbooks rather than purchasing them individually (Shim et al., 1459)
6. Reduce the cost of food while in college.
7. Students should prefer to depend on the food offered in the school canteens which is in most cases cheaper.
8. Learners need to avoid depending on big and expensive hotels for their meals (Xiao, Chuanyi, and Soyeon, 58).
9. Students can opt to prepare their meals in their houses, where they can be in a position to do a monthly budget.
10. Decrease the cost of transport
11. Students should consider using public means of transportation if they live far away from the institution.
12. Learners should rent houses in the nearby town, which may be more economical than paying fare to the institution.
13. Pay rental bills on time to save the money which could have been used to cater for penalties and fines.
14. College students can save money through financial socialization.
15. Students should use the money given by parents safely while in college.
16. Learners can look for part-time jobs to do during their free time to get money to supplement the amount provided by parents. They will have extra money to save (Shim et al., 1468).
17. Learners should look for financial aid from external parties like bursaries from the institution, government, and charity organizations.
18. Students can form small groups, where they can contribute on a monthly bases. This will give them a chance to save some of their funds for use in time of need.

III.    College students can save money by being in touch with financial institutions through the opening of accounts.

1. Keeping cash in bank accounts will prevent learners from having direct access to their funds. This will help to regulate their spending habits.
2. Banks do not charge edger fees for student accounts, which enable learners to save money in their accounts without the fear of high interest rates.
3. Financial institutions can offer low interests loans to students, which allows the learners to get money to supplement the amount they get from their parents.
4. Banks can be of great help to offer financial advice to learners on how to manage their funds and save money (Norvilitis et al., 1403).
5. Students should save windfall incomes in bank accounts for future emergencies rather than spending it on luxurious needs.
6. Students should look for credit cards which suit their spending needs and can be rewarded some points in return.
7. Avoid following the advice given on social media, where most participants target to manipulate college students.
8. Avoid financial advice offered on social media sites where most of the information is not genuine.
9. Not taking advantage of financial deals provided on Facebook.
10. Avoid giving personal details about a business matter on Facebook, where people with bad intentions can use it to manipulate learners.
11. Avoid copying the lifestyles of the users of social media, where in most cases it is exaggerated to influence college students (Sashittal, Rajendran, and Monica 502).

Conclusion

College students are among the people who can be adversely affected by financial issues. As a result, they should look for ways of controlling their spending to save money. Students should monitor their spending habits when in college so that they can be able to spare some money for future use. This should also seek the advice of the institution, parents and financial institutions regarding money matters, where they can be guided on how to use their funds wisely. Students should also avoid manipulation in social media, which mostly affects people in higher learning institutions. Students can also open accounts and even partner with fellow learners to save money in group accounts. Learners can keep themselves busy with other things like side hustles when they are free, rather than spending that time in luxurious activities which may be expensive.

 
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