Attending a university like Michigan Tech is expensive, so students must consider practical ways to save money. While living on a budget may seem like a concern for post-college life, developing smart financial habits now can set students up for long-term success.
Microsoft Excel is a free budgeting tool provided to students through the University. As an engineering school, most students are proficient in using this tool but may not realize that it can be used to track expenses, set financial goals, and create a budget tailored to individual needs. By utilizing built-in budgeting templates or creating a custom spreadsheet, students can track spending, set savings goals, and categorize expenses to see where their money is going each month.
Outside of tracking expenses, students can save money in their daily lives in several ways. First, they can buy bulk from Tadych’s or Walmart and do meal prep, stretching their budget further. Students could carpool or use the Houghton shuttle to cut down on transportation costs. Textbooks are another major expense, but students can save by renting books, buying used copies, or utilizing free digital resources through the library.
Social life and entertainment can also be budget-friendly. Students can take advantage of the many free events and activities covered by the Experience Tech Fee. This provides access to activities such as visual performing arts, Intramural sports, Tech trails, Mont Ripley, and several other free activities.
For more information, financial resources, or assistance with managing student expenses, students can visit the Michigan Tech Financial Aid Office or explore budgeting workshops and online tools that assist in managing a budget.
