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The Wonder of Tech is pleased to welcome Viraj Deshpande as a guest author. His article today is about apps to help students save money in college.
Even if you’re not a college student, you may find apps to help you save money!
Getting into college is a great feeling. You can’t contain your excitement as you look forward to 4 years of parties, pizzas and pajamas, while meeting new people who will become your friends for life.
College years can be the best years of our lives, but those are also the years we’re broke the most.
A recent Edvisors survey revealed that about two-thirds of all college students ran out of money before the end of the semester at some point in their college life. That’s a HUGE number.
Whether you’re a freshman, senior, or just planning for college, here is a list of 7 free apps to help you save and manage money while in college:
CampusBooks
According to a report by NBC News, the cost of a college textbook has increased 73% since 2006, and College Board recommends budgeting about $1,230 – $1,390 for textbooks and supplies in the 2016-17 school year.
There’s a simple solution: CampusBooks.
This app searches the Internet for the best deals on textbooks – new or used. A nifty GPS integration locates libraries or bookstores or anybody nearby selling what you want. Renting textbooks is also an option in the app.
You just have to compare prices, choose a vendor, and you’re good to go. And when you’re done with them, the app will also sell your used textbooks for the highest price possible. Just a few taps can save you hundreds of dollars.
[note] Also see, Take a College Tour with Tech! [/note]
Splitwise
With Splitwise, you can share expenses and manage your debts effectively. College students spot each other money all the time, and it’s difficult to keep track of every single obligation.
You can create groups of friends on Splitwise, and the app will help you split your bills, add up the expenses, and notify members with “friendly” reminders so that you always know how much you’re owed (or how much you owe them.)
Expensify
Expensify makes tracking expenses as easy as taking a picture of your purchase receipts, and then storing them by category. Now you’ll know where you spent the last of your allowance.
A number of students apply for internships and campus jobs during college. Expensify also boasts a Track Time feature so you can calculate your pay for hours worked.
If you have a car, the app’s Track Mileage feature ensures you’re always on top of your fuel expenses. Enter your rate per mile, and you can create expenses using GPS or the odometer.
RetailMeNot
RetailMeNot is one of the most popular discount coupons and deals app on the market. The app uses your GPS to show you offers and deals at locations nearby.
Wherever you go, if there are discounts at stores near you, the RetailMeNot app notifies you immediately. This way, you’re always saving money on the go.
[tip] For the full Wonder of Tech review, check out RetailMeNot: Another Shopping Buddy to Save You Money! [/tip]
Also, barcodes can be scanned right from your phone, saving you money on printing out coupons.
Mint
Most college students’ budgeting and financial skills leave much to be desired. Mint uses the power of automation to help you out.
You can connect all your personal finance accounts on the Mint app and it will track all your expenses in real-time. The app organizes your spending patterns in neat pie charts and offers you tips and suggestions to save money based on the data.
Mint categorizes your purchases, and can even create a budget for you, so you don’t spend money where it’s not required.
GoodBudget
GoodBudget has a unique system for budgeting. Students can set aside money for future expenses in “envelopes,” helping you plan your finances ahead of time.
GoodBudget tracks your expenses and categorizes them accordingly. The app also syncs to the Cloud, so all the information you need is always just a click away.
A technological revamp for the age-old method of “envelope budgeting,” GoodBudget is a must-have for college students.
Credit Karma
According to an Experian College Graduate Survey conducted in April 2016, 58% of students surveyed had a credit card.
With Credit Karma, you can get your TransUnion and Equifax credit scores for free. Credit Karma looks into your score, and shows you offers and options that will help you save money, while improving or maintaining your score.
And since it works based on your existing credit score, it only shows you offers you’re most likely to be approved for, making the whole process a breeze.
Summary
These apps are all free and are available on iOS as well as Android smartphones. What more do you need when the power of effective money management rests in the palm of your hand. Happy savings!
Your Thoughts
Have you tried any of these apps to save money? Do you know any college students who could use these apps? Do you have any suggestions for apps to help college students save money?
Share your thoughts in the Comments section below.
Author bio: Viraj Deshpande is a freelance writer and part-time musician from India. He likes to write engaging content for clients and businesses. You can find Viraj at Insta Freelancer and on Twitter at @instaviraj.
* iPhone image (edited) courtesy of Saulo Mohana via Unsplash and Creative Commons
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Hey Viraj,
I like the app for the books. The students really need that. I have spent a lot of money on buying new books every year.
In a student life, it’s really important to manage the money. More saving are required.
Thanks for the list.
~Ravi
Absolutely true. I went through a similar phase in college, and I hope this list helps students save up as effectively as possible. Thanks for reading!
Retailmenot has bailed me out a number of times I pretty much never check anywhere else before buying something for a coupon code. This day in age there is ALWAYS a coupon code out there it seems.
Hi Phillis, That’s great to hear from a fellow fan of RetailMeNot. Thanks for sharing your experience with us.
That’s exactly why RetailMeNot is one of the, if not THE best coupons app on the market. Great to hear from a fellow coupon enthusiast. Thanks for reading!
Hey Viraj,
Splitwise is really a good mobile application and web-based platform that helps its users share expenses with one another, including roommates, travelers, couples, friends, and family. It organizes all its users’ shared expenses and IOUs in one place so that everyone can see who they owe. Eventually, many many thanks for exploring much beneficial information.
With best wishes,
Amar kumar
Glad to hear from a Splitwise user.. It really is a compact, user-friendly app that makes expense-sharing so much easier. Thanks for reading!
As a college student, I would surely try these apps. Hope now I can save some money. 🙂
Hello viraj,
I really like campus books app to sell rent books. Really great list of apps useful for students
Thanks 🙂
Glad you liked it. Thanks for reading!