5 financial tips every broke college student should know

You can take this advice all the way to the bank.

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Summer may be around the corner, but many people have to maintain the "broke student" way of life. 

In fact, a recent study found that the majority of millennials have less than $1,000 in savings. That's why one Redditor asked the Internet to share the best money-saving and earning tactics to adopt year round. Here are the five best tips for college students to keep from going broke:

Collect your dorm's recyclables for cash

This tip is good for the environment and your wallet, so it's a major win. One Redditor stayed one step ahead of their lazier peers by taking their empty recyclables:

Many college kids dont give a sh*t about recycling. I just put up a cardboard box and wrote recyclable/returnables on it in the dorm common area I was in at the time. I'm in New York, so i just bring them to a redemption center. Takes like 20 minutes for basically free beer money.

 

Take advantage of what's available to you on campus

Toilet paper is an unavoidable expense, but Redditor elaxatation recommended taking rolls from lesser-used campus buildings. 

Went three years without paying for toilet paper by stealing rolls from the mostly abandoned building on campus that only holds a few classes. Find that building on your campus. It's also probably a great place to smoke pot in.

Take advantage of free food

Take note of various campus events that offer free food, and schedule them into your calendar. You may have to sit through a boring presentation, but you get free food and you might actually learn something:

Colleges (at least mine does) have an insane amount of talks from experts. They always have food and drinks and rarely verify if you're supposed to be there or not (if they're not already open to walk-ins). Plus, you get to maybe learn something new, so kind of a win-win.

Be a guinea pig

If your school has a psychology department, its researchers are likely looking for people to participate in experiments. While some schools offer credit, others offer extra cash. User here_n_queer swears by it:

Psychology experiments! Some of them pay $60+. The other day I took a survey that was about 15 minutes and walked out with $30 dollars. For a 2-minute blood draw, I got $60. For random spending money, walk into the psych department and hit up those flyers!

Leave your wallet at home

This is a great tip for anyone who has a hard time fighting the urge to spend. As one user pointed out, the concept is simple: No wallet means no money to spend:

I leave my wallet at home when I go to class. This has saved me so many times from spending money on overpriced food when I'm hungry or buying random unnecessary things.

So take heed—if these simple habits can be incorporated into your everyday life, you might be making bank sooner than you think.

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