5 financial tips every broke college student should know

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:

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.

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:

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:

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:

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