by Tony Ndakoh

Created on: December 01, 2009

Life in college remains one of the most unforgettable and refreshing experiences. It presents just as many challenges as it does fun. Whether just walking past a McDonalds or KFC and feeling like popping in briefly for a bite, or hanging out with friends on a night out, or even staying indoors to do some reading, the options never seem to end. But the most important consideration to make in either of these options is the financial one. As a kid, I was told it is lots easier spending money one doesn't work for, than spending that, which one actually toils for. That technically remains true. Most students, especially those on Student loans, grants, scholarships, and family support find it lots easier spending money, especially as they do not get to make the money themselves. This is not to say students on self-support are not that generous either. Students would be students, no matter their standing and financial position. But a few tips can prove vital to helping college students save money.

One of the greatest expenditures of a college student besides tuition fees, is living costs. Accommodation, feeding, books, leisure and entertainment, clothes, and travel, are some of the key expenditures here. Knowing how to manage each of these can be pivotal to the success of any student.

The first is accommodation. Students living in private accommodation must pay rents. Even those living on-campus still must make a similar payment. A college student must choose where to live. The kind of lifestyle a student wishes to live determines the choice here. A student with a lavish lifestyle for example may want to live next to the town center where he/she will have easy access to shops, restaurants, and other such facilities. How much a student gets to save on accommodation therefore depends on this choice. It may be a wise idea to live in shared accommodation. This way, the rent and bills get shared evenly among the house/roommates, or on any agreed proportions. However, the right house and/or roommates must be chosen if this option is applied. Preferably, mates should be at the same level or on the same course, and share similar interests. This almost perfectly synchronises study, sleeping, and entertainment times. Another option will be to live in an area or neighbourhood with relatively affordable accommodation. However, this must not be too far away from the college as to necessitate extra expenditures on transport. While therefore looking to cut accommodation costs in

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