Submitted by:  Gene Logan, USA Funds

Trips to the grocery store and gas pump are costing everyone more money these days, but for college students rising prices can be particularly painful. Helping students learn simple strategies to trim their food and gas budgets will give them essential tools they can use throughout their lifetime—not just while they are on campus. Here are some tips designed to help institutions teach students to manage their money and time wisely while in school and after graduation.

When shopping for food, encourage students to:

In addition, students should investigate all of their campus meal plan options, pack their lunches daily, and eat out less often and less expensively by taking advantage of coupons, early bird specials, and cheaper entrees.

The best way to save money on gasoline: walk, bike, carpool or take public transportation. Other ways students can pinch pennies at the pump:

It’s important for students to track their expenses to obtain an accurate picture of the money they are spending on food and gasoline. As they work to reduce expenses, they should continue tracking their costs to see if they are successful, as undergraduate and graduate students need to understand basic strategies for managing their finances and completing their degrees in a timely manner. For more information on additional financial literacy tips and programs available to schools, please contact your USA Funds representative.