How to Save Money When Looking for Housing in College

To stay at home and save money or venture out for the experience of independence—that is the question. For many college students, housing is one of the biggest expenses. Before you sign a lease or start hunting for a place, consider these budget-friendly tips that can help you make a smart financial decision.

Live at Home (If You Can)

There’s absolutely nothing wrong with staying at home during college—especially if it helps you avoid thousands of dollars in rent, utility bills, and groceries. If your family home is close to campus, this can be a great way to cut costs and start building up savings for the future. Not everyone has this option, but for those who do, it’s a financially wise move.

Split Costs with Roommates

If staying at home isn’t an option or you’re seeking more independence, sharing an apartment with roommates can significantly reduce your monthly expenses. Rent, utilities, and internet bills can all be split multiple ways, making it easier to stay within budget. Just make sure everyone is listed on the lease to avoid any legal or financial issues if someone decides to move out unexpectedly.

How to Save on Transportation

Getting around can add up quickly—especially if you have a car. To cut costs:

Consider using public transportation or campus shuttles, which are often free or discounted for students. If you drive, try carpooling with friends or classmates to share gas expenses. Walk or bike when possible—it’s not only free, but also great for your health and the environment. Look into student discounts for rideshare services or local transit passes.

How to Shop Smart for School Supplies

Textbooks and supplies don’t have to break the bank:

Buy used textbooks, rent them, or look for free PDF versions through your school library or online. Share books with classmates or join textbook exchange groups. Shop during back-to-school sales or use student discounts at stores like Office Depot, Amazon, or Apple. Reuse notebooks and folders from previous semesters if they’re still in good shape.

How to Eat Well Without Overspending

Food costs can sneak up on you, especially if you eat out a lot. To stay on budget:

Meal prep and cook at home as much as possible—it’s way cheaper than takeout. Buy groceries in bulk or shop at discount stores like Aldi or Trader Joe’s. Take advantage of any campus food pantries or free meal events (yes, they exist!). Limit coffee runs and impulse snacks—brew at home or bring your own.

Budget for Fun (Yes, It’s Possible!)

College life should include fun—but without draining your wallet:

Look for free or low-cost campus events like movie nights, concerts, or fitness classes. Use student discounts at movie theaters, museums, streaming services, and restaurants. Set a monthly entertainment budget and stick to it. Apps like Mint or YNAB can help track spending. Host game nights or potlucks with friends instead of going out all the time.

And to help you get started, here’s a free downloadable Budget Tracker you can use to map out your monthly income and expenses. Whether you’re living at home or off campus, this tool will help you stay on top of your finances and build solid habits for the future.