Easy Ways to Start Saving Money in College

Being a student can be expensive, but there are ways to reduce your spending, avoid extra debt, and set yourself up for a better tomorrow.

3 min read

As a student, you’re not just preparing for your career — you’re preparing for your life. Establishing good financial habits now will set the stage for a future of smart money management, and N26 wants to help. We’re here to support you with the right tools and knowledge to help you reach your goals, from student life, to graduation and beyond.

Being a student can be expensive, but there are ways to reduce your spending, avoid extra debt, and set yourself up for a better tomorrow.

Every dollar that you don’t spend is a dollar that you can put towards your student loans, or saving for life after graduation. 

  • Find a job on campus. Working at your college campus makes it easier to get to and from work, class, and home — and to do so affordably. On-campus employers are often more understanding of class schedules and possible time conflicts. They may also be more willing to give you a flexible schedule. For example, you could work three hours in the morning, go to class in the afternoon, and then return to work for a few hours in the evening. Also consider a job as an RA, which will save you money on housing.

  • Cook at home. Learning how to cook can save you a significant amount of money as a student and over the course of your lifetime. A basic cooking class is a great investment, but there are plenty of resources online. Plan your meals in advance and you can save a bundle on your grocery budget.

  • Use public transportation or ride a bike. Most college campuses are well-connected by buses and other forms of public transportation. Or you might prefer riding a bike and combining a workout with your commute. 

  • Live with a roommate. Or a few roommates. Sharing a home is one of the best ways to reduce your spending because you’re splitting the cost of numerous resources, such as rent, utilities, internet, and groceries. And with roommates, you can often live in a nicer home for less money than you could on your own.

  • Watch out for hidden bank fees. Sneaky fees at the ATM, or on your credit card bill can really add up. Choose an account that doesn’t charge hidden fees, like N26. With an N26 debit card, you’ll never be surprised by hidden fees — no maintenance fees, no minimum balance fees, and no insufficient funds fees. 

  • Look for student discounts. Being a student often gives you access to special discounts on insurance, car services, cell phone plans, clothing stores, restaurants, and more. If you don’t see a student discount, you can always ask for one. Keep your student ID with you wherever you go.

  • Work out for less. Many schools offer their students free access to fitness centers, exercise classes, or sports activities. You could also work out at home or find affordable classes online. 

  • Make coffee at home. If you’re a coffee-lover, invest in a quality coffee maker for your dorm or house. Making your morning coffee at home can be a healthy ritual, and may save you hundreds or thousands of dollars each year. 

  • Reduce your monthly expenses. Recurring bills and expenses can take-up a significant portion of your budget, but you can lower them by making small changes to your behavior. Learn how to save on your water bill, and how to save on gas.

N26 empowers you to make smart money decisions

Our mission is to give you the knowledge and tools that you need to manage your money well. The N26 app is loaded with tools that help you make good choices. Set savings goals with N26 Spaces and transfer funds with a single swipe. Track your expenses with automatic spending statistics. From exclusive discounts to cashback rewards, N26 is designed to help you handle your money with confidence.  Sign up with N26 today.

The N26 account is offered by Axos Bank®, Member FDIC. N26 Inc. is a service provider of Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. The N26 Visa® Debit Card is issued by Axos Bank pursuant to a license by Visa U.S.A. Inc. The N26 Visa Debit Card may be used everywhere Visa debit cards are accepted.

By N26

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