Being a student, you have to manage a tight budget. There are so many expenses to think about – tuition, books, rent, and food, to name a few. Luckily, there are ways to save money without too much effort. Here are some tips:
Create a budget
You have to be careful with what you spend, so create a budget. That said, it is critical to keep track of your expenditures. There are many free budgeting apps for smartphones that will help you manage your expenses and plan your savings.
Save on textbooks
If your professor allows it, buy used books instead of new ones. You can get a book which is in good condition at a much lower price. If you choose to buy books online, make sure you know the shipping and return policy. Don’t go overboard.
Sell, swap and buy what you can
If you have things lying around your house, you should sell them. You can make some extra cash and buy the necessities even cheaper this way. If there is anything left, you can always buy it for yourself after. There are online platforms where you can be able to swap clothes and other things with your friends.
Make your own food
Keep in mind that eating out is one of the most expensive ways to eat, and you should avoid it as much as possible. Even if you don’t have a kitchen or access to a refrigerator on campus, there are some cheap alternatives like bringing sandwiches or leftovers from home for lunch or cooking simple meals like pasta or rice.
Bring your own coffee
Another way to save money is to bring your own coffee from home. This can be a lot cheaper than buying coffee every day, and it’s also a great way to avoid drinking sugary beverages. If you don’t have time to make coffee in the morning, you can always bring a thermos or buy a cheap coffee from a café.
Think about your transportation
If you live close to your campus, try walking or biking instead of taking the bus or taxi. If that’s not an option, consider carpooling with friends to save on gas money. Transportation can be expensive, especially when you add it up over the course of a semester.
Look for affordable accommodation
As a student, you might not have a lot of funds to spare on rent. Try looking for affordable student accommodation like Lawrence Student Apartments and share your space with friends so that you can split the costs equally among your group. It’s also good to be aware of the different options available such as shared or private rooms, different locations, and amenities.
Do not get a pet
Pets are expensive, and you might not manage all the expenses by yourself. If you are not sure about your financial situation, it’s better to avoid getting a pet at all costs. If you want to have a pet, then look for something that is not expensive to take care of, like a fish.
Know what discounts are available
To save money, you will have to do some research and find out which discounts are available. For example, if you have a student ID card from your school of choice, make sure to ask them about any student discounts they can offer. In many cases, these cards also allow you to travel free with public transportation.
Be careful with bank accounts
Look for a student account that is free and easy to manage so that you don’t have any other expenses. You can also check if your bank provides a student credit card or loan without interest. In some cases, there are banks that offer tuition reimbursement programs.
Avoid going out during rush hours
This is, of course, a common mistake students make when going out, which is to go out during the rush hours. If you can avoid it, try going out later in the night when drinks and food are cheaper. You will also have a better chance of finding a table or getting into your favorite club.
The smartest way for students to save money is by creating a budget and sticking to it. This allows them to use their income effectively and within their means without overspending. Another effective way to save money is by looking for student discounts and deals. If you can find a bank account that offers no interest on your savings, it will make perfect sense to put some of the money away.