It’s already pretty hard to juggle between work, school and other activities that you may be involved in at the university. So, saving up can seem to be asking for too much. However, you need to save some money for a rainy day or to start up a project that you’ve always dreamed of doing.
What you need are key ways to save money as a student by checking how you spend your money and ensuring that you stick to it. Thank us later!
- Have a Budget
Before you start the saving process, you need to know how much money you actually make, as well as your expenditure. Here, you will need to come up with a list of all the expenses on one side; it may be food, rent and clothing, among others. Then, you will need to list all your income sources, for example, from a part-time job or child support, on the other hand. You need to make the budget as accurate as you can so that it becomes effective.
Once you have your budget ready, try and find items you can take off the list to reduce your total expenditure. It may be that you spend a lot of money buying new clothes every month, which may not be necessary. You can thus cut down on that spending.
- Go to the Local Library
Books are a necessity for any student who wants to live a meaningful life. However, they can be costly. You can hack this by getting free books, video games and even movies from your local library. This is a wonderful opportunity for you to enjoy some peace, especially if you are a writer. You can also get some textbooks for school. Another hidden advantage of libraries is that they on occasion issue out tickets to art galleries as well as museums at discounted prices, and also host events for free for some time during the year. Imagine having all this fun at no cost at all!
- Have a Home Cooked Meal
If you want to save up some money, it will be wiser for you to take your own home-made food. If you calculate all the money that you spend eating out for breakfast and lunch, you would be in shock at how much money goes into it. You can wake up a bit earlier and make some breakfast and pack up some snacks for lunch. You can also have some leftovers for dinner later in the evening. All this will ensure that you save money and time.
- Take Advantage of Coupons and Dine Out Less
There is absolutely no problem going out for dinner occasionally. However, you need to do this with caution as you don’t want to spend too much money on it. You can make use of discounted meals, special dinners as well as coupons from restaurants. You also don’t have to take that soda with your meal all the time; you can opt for a cheaper and healthier option of water instead.
You can also get coupons for stores, especially grocery stores, on the local dailies and magazines or online and enjoy great deals.
- Make Use of Your Student ID
Your student ID can be great leverage. It is more than just an identifier or a ticker to your classes, it is a discounter, and a great one at that. You can use it for discounts at concerts, restaurants, plays and retailers among others, thus saving you money. If you would like to get a gym membership, you can use your ID for a fairer student rate. However, if you would like to get a discount from stores, you need to ask first as it’s not offered at every other store.
- Seek out Free Entertainment
There are usually more live music events in the outdoors during the summer. The intriguing thing is that they are absolutely free. During the winter season, schools and community centers usually organize for free concerts as well as plays. You can take advantage of this instead of having to pay a lot of money for just one concert or play. All you have to do is check out local area newspapers for the information on events or check the local community’s website.
7. Make Your Own Gifts
You don’t have to buy every gift from the stores. They are pretty expensive! And the reasons to buy are pretty many too, from birthdays to graduations, to thank you gifts among others. This is a leeway to explore your creative side. You can make a wide range of items including, candles, cards, bake bread, pie or cake. These gifts are inexpensive to make.
These gifts are most memorable because they have a personal touch and that is definitely something that cannot be bought from a store.
- Write and Stick to Shopping List
We always tend to buy more than we should and sometimes even buy things that we really don’t need while going out for shopping. This is a real money waster. To ensure that you save up some cash, you need to come up with a shopping list before heading out. List all the necessary items first. This will also help you buy items that are already part of your meal plan.
A list is no good if you do not plan to stick to it. So, as much it’s important to have one in the first place, you’ll need to follow through and avoid any impulse shopping.
No matter how bad your spending habits are, you can always turn your life around. Saving is the secret to financial success. This is especially true for students. The first step is usually difficult. However, with our tips, you are bound to be successful in saving money. Money problems can be real life stressors so if you can find some ways to save money as a student and at least can keep them at bay, you will be able to live a full life!
About the Author: Richard Nolan is a professional educator and team building coach, sharing his experience in spheres of writing, blogging, entrepreneurship, and psychology. Richard writes for numerous blogs and gives useful tips for bloggers and students.