Home » Budget » Money Tips I Wish I Had Known BEFORE I went to College
Published: · Modified: by Sarah · This post may contain affiliate links · 17 Comments
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I have been a college student for about six years, and I'm so excited to graduate, but I have loved my whole entire college experience and I know I am going to miss it. I've been lucky to be able to go through college without accruing any debt by way of student loans, credit cards, car loans etc. This is due to the generosity of my father, my choice to avoid debt at all costs even when it seems like the only way to keep going, working at least part time for the entirety of my college career, learning to be super frugal, and taking advantage of federal grants. I understand that not everyone has the exact same options that I had available, but there are lots of different ways to get financially prepared for college if you know where to look.
I am going to begin a series today to share the things I learned along the way that can help you save a boat load of money and get into hopefully no debt or as little student debt as possible to get yourself to the finish line. My first subject is TEXTBOOKS: not buying them.
You do not need to buy your textbooks. This is a huge money saving breakthrough if you didn't already know this! The average college student in the U.S. pays $300 for books each semester. After four years of school that is a whopping $2500. A few years ago, I decided that I had had enough. The textbook industry exploits starving college students by coming out with a new edition of their textbook every two or three years, making it so that you cannot buy used copies from previous years and must pay full price, or almost full price since it will still be pretty new even if it is secondhand. So this is how I do it.
When you find out what books you will need for the semester, find out if the school library has them on reserve. Having books on reserve means that the library has at least one copy that you can check out for a couple hours at a time but it can't leave the library. This allows you to read what you need to read, do your homework and return it so someone else can do the same. If this is the case, and your professor doesn't require you to bring the book with you to class, you are home free. Buying that textbook is not necessary. I like it because it forces me to do homework in the library instead of at home, where there are many distractions. I get things done much more efficiently.
If you do need the book, you still have options. Rent your textbooks! Amazon Textbook Rentals is my personal favorite place to rent textbooks. They offer free shipping to you and back to them after the semester ends, and their prices are great! I went to my university bookstore to find an example of the price difference for you:
Psychology in Every Day Life by David G. Myers
at my bookstore New: $92.00 - Used: $69.00 -
Rented from Amazon Textbook Rentals: $32.27
And one more thing. If you are renting the book, you can still save even more! Make a friend on the first week of class and ask them if they already have their book yet. If they don't, you can propose that you split the cost of renting a book and share it for the semester. This works best when you know that your book buddy is responsible and serious about coming to class. (Maybe someone you have had classes with before, or who sits in the front, which is usually an indicator.) I don't recommend choosing someone you have no knowledge of and hoping they will hold up their end of the bargain. It can be tricky- but I did this last semester and only paid $17 to rent the book for the semester and the girl I shared with was thrilled about the proposition.
So, that is how not to buy textbooks. Try it out. You will love how much money you aren't spending!
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Reader Interactions
Comments
Kay
I noticed that sharing textbooks is pretty common practice these days (even when it's not as formal as you described it.)
See AlsoTwo little words that will destroy your financesFrugal Ways to Save Money: Getting Out of Debts - Real Advice GalMind-Blowingly Simple Ways to Save⎢Easy Tricks to Save MoneyQuick Financial Fixes that Take Less than 15 Minutes!Whenever I have two or three friends in a class I try and skip out on buying a textbook. I can usually borrow from someone whenever I need it. If not then I can always settle for a library copy.
I've also played with Amazon rentals in the more intensive textbook classes.
One more thing: I never buy textbooks until the teacher makes it blatantly obvious it's required for the course through their assignments. I had friends that bought hundreds of dollars of new textbooks and they were still in the plastic wrapping at the end of the semester.
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Jessica @ Pretty Providence
SO TRUE!!! Thanks so much for sharing!!
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collegegrad
What I always tell peers to do is buy your text book an edition earlier. Usually there aren't huge differences between editions- this has been previously mentioned. But when you're in those classes that you need the newest edition for, like a criminal justice class, buy the book you need. As the course ends, sell the book. You can do this on craigslist, ebay, amazon, etc. I have found that the best option is amazon, they allow anyone to create a seller account in which the funds get deposited into your bank account. Using this I have sold all but 3 books ($2 novels) from my entire college career. Selling your books back online is the best way to get the most money for them, you'll earn back much more than your university is willing to pay you. I've even sold books back online for more than I bought them for due to demand. Just try and keep your books in the best condition you can, and when you're done using them its just a trip to the post office to mail them off.
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Rachel
I usually rented my textbooks through my college--it still wasn't cheap. My husband didn't buy any books that he didn't absolutely have to and spent a lot of time using the library's copies. But now we're both out of school so it's too late for us to use this resource!
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Shannah @ Just Us Four
Great tip on books! Thanks so much for linking up to the Pinworthy Projects party!
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Michelles Tasty Creations
Sarah,
You probably just saved me a ton of money! My daughter, Jessica, is starting college in the fall and I just told her to get her book list so we can get her books ordered. This is the one time I'll say "Thank goodness she procrastinated" because now I will look into renting them or she can even do the sharing the cost thing. Thank you, Thank you, Thank you! Thanks also for sharing this on Creative Thursday so my followers can use this awesome advise.Reply
Because I notice what you dont
I did all mine on Amazon. Cut and paste the UPC number into google from the book list online (at least from University of Utah) and it pulls up the cheapest ones, whether Amazon or Ebay. Mine were all math books too....I got 200 dollar books for like 50 bucks.
Also, tip from an Economist....usually teachers will announce on the bookstore websites what the course materials are about three weeks in advance. Buy right away on amazon. Pricing is still low because demand is low. As soon as it is getting down to the very days before, when most students buy...demand is higher, supply is smaller, prices are higher. As far as selling, do the same thing. Sell your last semesters books right before the next semester starts. If it is on amazon, someone somewhere at some University will want it, and probably be willing to pay a higher price due to urgency. - Jane
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Chelsea
I totally agree! I also check Amazon and compare prices before and ask my friends if they have any of the books I need. Another good resource is buying an older edition. Normally all that changes are the pictures.
xoxo
ChelsReply
femmefrugality
Me and my friend bookshare, but we purchase. And not on all of our books (we have a lot of classes together.) I buy on Amazon (though for my major electives, I've been surprised at my bookstore's reasonable prices.) Then I sell them IMMEDIATELY before they can come out with a new edition. I wish you could rent for math...it seems like all of them come out with a stupid CD that has a code that you can only use on one computer...that bill is gonna be so bad.
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Anonymous
I agree with chelsea. My son is a senior at UCF and is a big Amazon user. He has found earlier editions of books for a fraction of the price. He has saved hundreds of dollars. they are basically the same book.
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Cameron
Totally true! The only problem that I've run into is if I have to buy an access code for online books. That's where it gets pretty tricky and I think that's becoming more and more common.
The rest of this is genius and the more that I've had to buy textbooks, the more I've learned to take this exact advice. Great post!
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Sarah
Yeah i've been lucky to have most of my teachers on my side about things and they don't require us to get an online access code, they just say as long as we do the reading they don't care how we do it!
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Anonymous
You can usually go to the publisher's website and buy the code separately for roughly $18. I never buy the code unless I absolutely have to (which I usually don't find out about till the last minute), so this tip has saved me some money.
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On My Way To Disney
I agree with the textbook part *somewhat*. I am a major highlighter. If it needs to be remember, it needs to be highlighted. Because of this, I realize I can't rent books. I can, however, ask the teacher if an older edition will be okay for the class. If the 7th edition is on the syllabus, usually the 6th edition will be just fine. Most of my teachers recommend not to go past the 5th (or the equivalent) because some things DO change. Most things don't, though. To be able to upgrade an edition, publishers only have to change a few things like a picture or two! Just because of that the price increases $60. I have found that many of my teachers are happy to help their students save money, so this usually isn't a problem. What IS a problem, is having a "school edition" or a book that the professor wrote. These cost more and sometimes we just can't do everything the way we want. I do get my used (old edition) books off of ebay or Craigslist (in the college town). I usually get them for $20 or so. Compared to $300, that's awesome. :)
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Sarah
It's the best when teachers are cool about that. Sometimes the material changes a lot but what I've been told is that they have to change it at least 20% which isn't much so lots of older editions are great!
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Deb
Just wanted to mention they now make erasasible highlighters. They work great! The ones I purchased were Pilot Frixion Light. They came in a 3 pack ( pink, Orange, yellow) for well under $10. Found them at Office Depot, but think they are pretty common. There is NO ink residue on the book page. Hope this helps.
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Deb
Just wanted to mention they now make erasasible highlighters. They work great! The ones I purchased were Pilot Frixion Light. They came in a 3 pack ( pink, Orange, yellow) for well under $10. Found them at Office Depot, but think they are pretty common. There is NO ink residue on the book page. Hope this helps.
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