Saving Money by Focusing on College Expenses

Do you have a child that’s in college?

Tuition, books, housing and more can add up fast. So can all the little things, like pizza, dates, movies, and music. There are a few tricks you can instigate that can help keep your college student on budget and on course.

Freebies are Important 

College is a unique experience and your student is going to want some money to fully enjoy every minute of it. Encourage your future college graduate to look for no-cost, on-campus activities. Most colleges offer movie nights, free concerts, and clubs. Some even have bowling alleys, tennis courts, and intermural sports leagues. They’ll get a lot out of it, and you’ll save some money.

Control the Cash

It’s not easy to say “no,” but it is necessary to set boundaries. Some parents have found success by writing up an agreement that clearly specifies how much cash they are willing to give each week or month. It’s a great way to keep your student on a clear budget, and your checkbook out of the red.

Show Them How to Track Their Spending

Show your college student how to balance a checkbook, check online banking, or even track their spending in a notebook. It’s important they keep track of every penny, whether they have a debit card, cash, or a credit card for making purchases.

InRoads Understands College Savings

The InRoads team is available to help you. Connect with us about your college savings options and other financial advice.