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How to Build a Savings Account in College

With a little bit of planning and some savvy money moves, you can not only survive college financially but also build a solid foundation for your future. Here’s 5 steps to go from ramen to riches!

Hailey Jones

March 11, 2025

7 MINUTE READ

How to Build a Savings in College

College life is a whirlwind of late-night study sessions, new friendships, and, let's be honest, a constant struggle to keep your bank account from hitting rock bottom. This cycle of financial ups and downs doesn't have to be your reality. With a little bit of planning and some savvy money moves, you can not only survive college financially but also build a solid foundation for your future. Here’s 5 steps to go from ramen to riches! 

1️⃣ Budget Like a Finance Bro:

Trust me, budgeting isn't as scary as it sounds. It's basically just a fancy word for knowing where your money is going. Track your spending for a month – every coffee, every late night Uber Eats order, every impulse buy. You'll be surprised where your money mysteriously disappears to! Apps like Mint or Personal Capital can make this a breeze.

Once you know where your money is going, create a budget that actually works for you. Allocate funds for essentials like rent, groceries, and textbooks. Don't forget to include some fun money – you deserve a break! But remember to prioritize needs over wants.

2️⃣ The Art of the Meal Prep:

Let's be real, eating out every day can seriously drain your wallet. Embrace the art of meal prepping. Spend a few hours on the weekend cooking large batches of healthy and affordable meals. Not only will be saving time and save money, but you'll also be eating healthier and more nutritious food. It’s a win-win. 

3️⃣ Build a Savings Habit (Even If It's Small):

College is actually a fantastic time to supercharge your savings. Since you likely have fewer major expenses like rent (especially if you live on campus) or car payments, you have a unique opportunity to significantly boost your savings. Even small contributions, like $20 or $50, will add up quickly over time. Treat saving as a non-negotiable expense – just like you budget for rent and groceries, allocate a specific amount to your savings account each month. 

Think long-term: this isn't just about short-term goals like a new phone. This is about building a strong financial foundation for the future. Imagine graduating with a substantial savings account – it will give you a massive head start on your career goals, whether it's traveling the world, buying a car, or putting a down payment on a house. Download apps like Rocket Money or Pennies to help hold you accountable. 

4️⃣ Find a Side Hustle:

A part-time job is a fantastic way to earn extra cash. Explore on-campus work-study programs or look for part-time jobs in your field. Our GIG page has hundreds of flexible paid job and internship opportunities that are specifically hiring college students. Explore these opportunities and discover how you can turn your skills and passions into a profitable side hustle. Some students are making thousands of dollars by utilizing these GIG postings, not only boosting their finances but also their resumes.  

Don’t forget, college is a time of growth and exploration. By implementing these tips, you can navigate your college finances with confidence and build a strong financial foundation for the future. So, embrace the challenge, budget wisely, and enjoy the ride!