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How to Save Money as a College Student

Written by Jasir Jawaid

Being a college student isn't easy. Tuition costs and living expenses are on the rise, you have to maintain a social life, all while ensuring you make it through the finish line. There's also something to be said about the loans you're taking on during your college days. A four-year degree will see a student spend $16,500 on rent, according to Admissionsly. Meanwhile, pegs the average federal student loan debt balance at $37,113.

But these formative years are your first taste of adulthood. College students are on a tight budget, and if you're not careful with spending money, you may find yourself in a never-ending cycle of debt. According to the same Admissionsly article, the average college student in 2019 had five credit cards.

Being financially independent doesn't mean you have to earn more money; exploring ways to meet your financial goals through saving what you have in the bank account can also improve your financial situation. Below, we're listing hacks that should help you save money without compromising your current lifestyle.

This article was published on JoyWallet and can be read here in full.


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