Money Saving Tips for Your College Freshman

Save green by going green - Most colleges give away reusable bottles, tumblers and coffee mugs and encourage their use. Some students on my campus have had the same Nalgene bottles, coffee mugs, and tumblers for years and when they refill them in the food court it costs less and saves a lot of disposable cups, lids, and straws that would otherwise go into the trash each week. The average savings on my campus for a year is $160.00.

Evaluate meal plans - There are usually two kinds of meals plans available to college students. One is a set number of meals such as 200 meals for the entire semester. This is more often seen on smaller campuses that offer a traditional cafeteria or buffet in one central location. The other option is a "declining balance" meal plan that operates much like a pre-paid debit card. You put $1500.00 on the plan at the beginning of the semester and your child uses the plan until he depletes the account or until the end of the semester.

Whichever one your child’s college offers, it is important to figure out the average costs per meal and the policy on unused dollars. Will he get a full, partial or no refund or will money carry-over to the next semester? If not, it is in your child’s best interest to get the cheapest meal plan possible and use it completely. If your child is a light eater, choose the smallest meal plan available and if he still depletes it before the end of the semester he can usually add money without a penalty or can just use cash or debit instead of the meal plan.

Other things to consider while selecting a meal plan are the locations and operating hours of the campus dining halls or food courts, and the dining options adjacent to campus. Consider whether or not your child will have the time in his schedule on an average day to reach the dining halls or food courts during their operating hours. If your student’s off-campus choices are low cost pizza places and taco shops, he may be eating off campus more than on campus.  If on the other hand, high priced restaurants and pastry shops surround campus, it will be cheaper to eat on campus or in his residence hall room.

*Students who have allergies, intolerances, or other dietary needs should be aware of typical menu items and what they can eat, and where. Many campuses have nutritionists or dietary specialists who can help students plan appropriate meals from the dining choices available on campus.

Learn how to cook basic meals - If he can boil water, he can boil eggs for quick breakfasts, make pasta, rice and cook vegetables and boxed meals. The summer before his freshman year is a good time to have your child learn to cook if he already doesn’t know how. If you don’t cook either don’t worry, cooking classes and cook-offs on campuses have grown in popularity over the past several years and many residence halls feature shared kitchens. In addition YouTube is full, I mean full, of how-to videos on basic cooking techniques.