The life of a college student balances studying, partying, and paying bills\u2014while the first two are mostly fun, the latter can be tedious and, at times, heartbreaking. You\u2019re probably paying way more than you need to for everyday essentials. <\/p>\n\n\n\n
Here\u2019s a look at what you\u2019re likely spending your money on, and how to make some smarter payment choices and reduce some of those hidden charges you might not see.<\/p>\n\n\n\n
Every time you pay for a service or goods, you could be paying credit card or delivery fees, or other bank fees. Here are some things that you\u2019re probably spending money on, but paying more than you should:<\/p>\n\n\n\n
School fees need to be paid, and that\u2019s a non-negotiable, but how you pay them might be costing more than you think. <\/p>\n\n\n\n
You (or your parents) might think putting it all on the credit card is easiest, and it might be, but you\u2019re getting hit with an expensive transaction fee. The average fee US colleges charge for credit card payments is 2.65%.<\/p>\n\n\n\n
Take the average tuition fee of $11,610<\/a>, and the 2.65% credit card surcharge is $307.66. How many meals in the food hall could you buy with that?<\/p>\n\n\n\n Speaking of eating, food delivery apps are probably on your phone\u2019s home screen. The average college student spends $210 per month on delivery apps before delivery fees and markups\u2014and those extra charges add up. <\/p>\n\n\n\n What you may not know is that you\u2019re paying more than if you went to the shop. Item prices are often increased by 20%\u201330%, so vendors can recoup some of their app commission. <\/p>\n\n\n\n Minimum order fees round orders under $10 up to $10\u2014meaning you might be paying $2\u2013$3 for absolutely nothing. Then there are delivery fees. <\/p>\n\n\n\n DoorDash has a 10%\u201315% fee, and Uber Eats is a flat 15%. If the store is over five miles from your campus, then mileage fees kick in as well. Eating at the campus food hall is likely a more budget-oriented option.\u00a0<\/p>\n\n\n\n How often do you withdraw from the ATM on campus? Depending on your bank, you may be paying more fees than are necessary. For example, if the ATM on campus is operated by Bank of America, but your account is with Citibank, you\u2019ll get charged an out-of-network fee.<\/p>\n\n\n\n Also, if you opened your account in your hometown, but you\u2019re studying out of state, you could get hit with an out-of-area fee too. <\/p>\n\n\n\n These add up to just under $5 per transaction. If you\u2019re withdrawing money twice a week, that\u2019s nearly $10 you\u2019re spending needlessly.<\/p>\n\n\n\n Where else are you spending money excessively?<\/p>\n\n\n\nFood Delivery<\/h3>\n\n\n\n
ATM Fees<\/h3>\n\n\n\n
Subscriptions to Student Tools<\/strong><\/h2>\n\n\n\n