10 Ways You Can Save Money Right Out of College

1. Live family style. Living with a large group of people is a great way to save a lot of money (and hopefully make some close friends in the process). Imagine rent and utility payments divided by 2, 3, 4, or more!
2. Shop at thrift stores. Thrift stores are excellent resources when you’re on a tight budget. The money you save by avoiding retail prices can be spent having clothes tailored. It’s also the case that you can find some really unique and interesting pieces of clothing at your neighborhood thrift store.
3. Use public transportation. If there isn’t reliable public transportation in your area, carpool, walk or ride your bike. Ditch the car entirely, if possible. The cost of insurance, gas, car payments and parking fees add up fast.
4. Buy in bulk. Keep an eye out for sales of dry goods, like pasta, peanut butter and toilet paper and stock up when the price is right.
5. Do not live on credit. The allure of buying now and paying later can snowball into huge balances, missed payments and ruined credit scores.
6. Try bargaining. It can be scary, but bargaining is a great way to save money. Before you buy a big ticket item, research prices online. If you are buying in a store, bring a copy of an online ad that shows the same product at a lower price. Many sellers guarantee that they will match or beat any price advertised by their competitors.
7. Use coupons. If you buy online, type in “store name” and “coupons” to see what pops up. You can save 15% by taking an extra moment to research. Weekly mailers include paper coupons that you can use on your next grocery trip.
8. Look for young adult discounts. Many retailers offer student/young adult discounts. Keep your eye out for these discounts and you could save a lot of money over time.
9. Make deliberate spending choices. Look at your expenses. Are there some compromises that could be made? Choose between Internet and cable (or ditch both — free internet abounds in public locations). Be mindful of what is right for you and cut what you don’t need.
10. Have good, cheap fun. With an online video service you can watch movies for less than the price of a movie ticket. Invite friends over and make it a potluck. Cheap happy hours can be found on every corner in college towns and large cities. Sometimes fun is not free, but that does not mean it has to be expensive.

About the Author: Randall Davidson is the lead project manager and a co-founder of Audio Transcription.  His company’s blog frequently posts information about personal development and small business, including a lengthy post about how to save money.  In addition to saving money, Audio Transcription staff members have written about saving time.  Of particular interest to many twenty-somethings who are in graduate school is Audio Transcription’s English transcription services, which many students use to speed up the otherwise even longer process of writing their dissertations.