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Money-Saving Tips & Tricks for College Students

Jun 20, 2016

It is no secret that students often live on a shoestring budget. When you are trying to balance the costs of living with the costs of studying and all that with a limited amount of money at your disposal, every cent counts. In this situation it is difficult to balance your budget, and let alone put some cash aside for yourself. Still, believe it or not, there are ways to save some money while studying, without compromising on your lifestyle.

Put It on Paper

Have you ever looked at your wallet in the end of the month, and wondered where all the money went? Do not worry – it happens to everyone. To avoid it in the future, put your budget on a paper. Write down how much money you have, and what all of your major costs (bills, rent, etc.) will be. Take notes of every cost you make during the week (groceries, night out, impulse purchases and so on). There are many apps that can help you organize your budget efficiently, but a simple notebook will also do the trick. 

Find Affordable Accommodation

Accommodation usually takes the biggest part of your monthly budget. First, choose to live in some more affordable neighborhood, even if it is not close to your college. In many cities you can get student discounts for public transport, so you do not have to worry about the costs of commuting. Also, finding a roommate is always a good way to share the costs.

Save on Utility Bills

Another huge chunk of your budget, utility bills are not written in stone, and you can significantly reduce them with some simple steps. For example, make sure you keep all your electric devices off when you are not using them. Also, you can replace your regular incandescent bulbs with LED bulbs. Check the bathroom and the kitchen for possible water leaks and use a toilet tank to save about half gallon per flush, advise us at a Hazlet-based plumbing service.

Cut Costs on Your Groceries

Your groceries bills might not seem as much at the first glance, but if you consider them on a weekly basis, you can see how easily the costs can pile up. Try to save some money by buying in bulks, visiting local markets, and purchasing discounted items. Always opt for seasonal produce, not only because it is cheaper, but also because it is healthier.

Learn to Cook

Forget all about ordering pizza, eating takeaways and instant oatmeal and noodles. Cooking is not that hard as you think, and it is much cheaper and healthier than buying prepared dishes. Learn some basic recipes for pasta, smash potatoes, omelets, rice dishes, and other easy to make student meals.

Buy Used Items

Not everything that is new is necessarily better than something pre-loved. In fact, secondhand shops are gaining more popularity each day, as many celebrities decide to buy clothes there and speak about it in public. There is no shame in buying used text books or furniture. Many of the electrical devices you use on a daily basis (e.g. TV) can be bought for a bargain, even though they were used for a short time.

Use Student Discounts

Cities that are home to one or more universities usually have great student deals that might seem insignificant when looked apart, but when joined together, they can make a huge difference in your monthly costs. Your student ID card is the key for discounts for transport, museum entrance, restaurants and shops.

Pay Upfront

Paying upfront will serve the similar purpose as planning your budget. You will get rid of all the major costs at the beginning of the month, so the money that remains on your disposal is the real sum you can spend. Also, if you make your student debt payment upfront, you can avoid interest charges.

As you see, it is possible to save some money during your college days. All it takes is a bit of planning and cleaver spending, but the results (having some money aside) are very rewarding.

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