PSU College Budgeting Guide

Budgeting is hard. This is true no matter how old you are, but it is especially true for college students. For most Penn State students, going to State College is the first time they will be away from their parents. While this can be exhilarating, it can also be nerve-wracking and expensive. Some students may have the privilege of having their parents as a safety net. Others are not so lucky. And some students want to try and do it on their own, so they don’t have to depend on their parents. 

Whatever the case, managing money, whether its earned or given to you by your parents, is hard when you are in college. Being away from home for the first time and seeing everything that the campus and surrounding areas have to offer can make you want to spend more than you should. If you can learn to manage your money during this stage of your life, you will be much better off in the long run. Below are some tips for PSU students trying to live on a budget. 

In State College, you can live on campus or off. The choice is up to you, and it truly depends on where you’d like to spend your time. Before you decide, you need to break down the cost of living in a dorm and then check the rent prices for apartments in State College. If it’s cheaper to live off-campus, then you should. You should also factor in other things, like your privacy and solitude. Nothing is nicer than coming home to your own apartment at the end of a long day of classes. 

Renting your textbooks may be one of the best things you can do to live on a budget in college. It is also something that few students know about. Yes, you can buy the books used, but you may want to rent them instead. Buying the books used, can save you money, but when you are done with school what are you going to do with the books? Sell them? If you sell them, you will get less than what you paid for them. But if you rent them for the semester, it will be less money, and you won’t be stuck with a book after the semester is over. If you rent a textbook, you can expect to pay at least $30.

When you get to Penn State, you are going to need transportation. You may have your car you may not. Or you may have your car, but can't bring it with you for the first semester or the first year. Either way, unless you plan on staying on campus every day, you will need a form of transportation. State College has a very robust rotation of busses and other public transportation options. Or you could ride a scooter around town or maybe a bicycle. 

There are plenty of affordable State College apartments for rent in the area, however you can always cut costs further by getting a roommate. If you want to get an apartment off-campus, consider getting a roommate - they can help you pay for half the rent and utilities. While living with a roommate can save you money be sure to vet the person you are considering. If possible, try and find someone that is also attending Penn State.

Food is fuel, but where will you get it. Now, if you are new to the State College, you might be interested in experiencing the restaurants. Practice moderation here. Yes, eating out is nice. Yes, eating food you didn’t have to make somehow makes it taste better. But it will also cut into your budget. If you get a roommate, you can split the cost of groceries. You can cook a big pot of soup, spaghetti, or something else inexpensive and eat for a few days. Eat-in more than you eat out. And when you do eat out, look for the deals. Also, if you are a coffee drinker, make your own. It will end up costing you less to buy a coffee maker and make your coffee than going to a coffee shop every morning. 

Many places offer student discounts. By using your student id, you could get a discount on a ton of stuff. If you are a fan of Prime and have a student email address, you could get the service for half off. Other companies also offer student discounts, but you won’t know until you ask.

When you are on a budget, coupons are your friend. They may not be cool, but who cares? You can find coupons on everything from food to electronics. You have to know where to look. Before you go grocery shopping, check for coupons on the foods you usually eat. Also, you should be able to find the deals on your grocery store’s website or app. 

When living on a budget, you need to make sure that your basic needs are being met. This means: do you have a place to stay? Food? Lights and water? Your basic needs are what you need to focus on, and everything else can wait. For instance, do you need cable? Or can you survive with a streaming service? 

To help you stay on budget and meet your needs, you should consider getting a job. It could be a seasonal job or something part-time that won’t interfere with your studies. If you work during the summer, you can save your money for the school year. And if you are working during the school year, you’ll be too busy to spend the money you make. It’s a win-win. 

If you know where your money is going each month it will be easier to understand where the leaks can be sealed up. For example, you may notice that you’re spending way more each month of that taco truck than you realized. Keeping a budget may not be fun, but it will go a long way towards helping you become more financially comfortable. 

Check out ApartmentsStateCollege.com for a full array of apartments for all styles and budgets. Call them at (814) 238-3153, or visit them at 214 S. Allen St. in State College, PA.