College Savings Tip: Live Without A Car

This might sound crazy to some of you, but I knew plenty of people who made it happen. The only drawback this is that it makes it tough to hold a job during college. I think all college students should working during their college career, but many jobs are either on campus or right around the corner. My senior year, I worked as a computer technician on campus, and I lived five blocks from campus. I drove my bike to work every day. Here are five reasons why living without a car can save you some significant cash.

1. Gas is $3.75 a gallon. Need I say more?
2. Insurance premiums for young people are outrageous. You’ll easily spend $75 to $100 a month on car insurance.
3. Car maintenance is extremely costly, and most young people drive old cars. Oil changes, new tires, new alternator, new radiator, and new batteries. I replaced all of those during school, and I cringed every time that I did it.
4. Parking is never fun at large universities. Parking passes ran $75 to $100 a semester for on-campus passes and some apartment complexes near campus charged for parking passes as well.
5. You won’t be tempted to go home as much. I know mom and dad want to see you, but going home is expensive. Not having a car won’t tempt you to make unnecessary road trips.

Seriously consider buying a good bike and get familiar with the bus system. I owned a car, but I still frequently road my bike, because finding a parking space on UF’s campus is impossible during peak hours. I also used the bus system frequently, because it was free with our student ID. You will seriusly save some cash if you can find a way to make it work for you.

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