As a student, we always find ourselves broke. Most of the time, it is just half way through the month and we have ran out of our monthly allowance. As a result, it is either we spend less towards the end of the month or ask for more money from our parents. In addition, sometimes there are things we want but cannot afford it.
To prevent this from happening again, we must learn how to save money. Saving money should also have a purpose. Short-term savings may be used to buy a new phone, shoes, or something what we want ASAP. On the other hand, long term savings for our future expenses such as emergency fund, travel, etc. Here are 10 tips to save money as a student:
How to Save Money as a Student
1. Create a budget and stick to it
In creating a budget, it is advisable to make it realistic. It is up to you how you divide your money for food, fare, school supplies, etc. Make sure to set aside for your savings as well. You should only spend how much is allocated on a certain category and you should not exceed. If you have spare, you may add it to your saving. Be smart and wise in spending.
2. Do not buy new printed books
Books are very important to students but they are very expensive. Instead of buying new printed books, try to buy second hand books from the upper class. Renting a book at the library should can also be a choice. If you are fine with reading digitally, you may get an e-book version of the textbook. This may be cheaper and easier to carry. There are also websites that provide free ebooks. Grab the chance!
3. Lessen the use of paper
In college, professors asks students to read tons of articles. Printing all of them could be expensive and heavy in the backpack. To lessen the use of paper you may do this:
- Read digitally using your laptop, tablet, or phone. There are apps out there which you may use to annotate PDFs with different colors of highlighter and you may also add notes.
- Print on both sides of the paper. Less bulky, more Eco-friendly
- Print two pages on each side of the paper. Do this only if you don’t mind reading in smaller font size.
Sometimes we need caffeine to be energized and stay awake while studying. Instead of buying coffee from cafes which are expensive, opt for a cheaper option. Instead of buying iced coffee from Starbucks, you may buy one from McDonald’s. There are also cheap but delicious coffee from convenience stores. Coffee from vendo machines are also available. To really save money, you may make one at home and put it in a thermos or a tumbler.
5. Bring a water bottle
Instead of buying bottled water, bring a water bottle. You may refill it in the water fountains on campus. You will not only save money, but you’ll also lessen the use of plastic bottles.
6. Only buy necessary school supplies and use them wisely
It is common for students to splurge on stationery but most of the time they are unnecessary. You don’t need all the colors available for a highlighter or a pen. Just buy what you think you need and you’ll definitely use. You don’t have to buy everything your favorite studytuber or studygrammer uses.
Write your class notes properly so you won’t have to rewrite it. This will save paper, ink, ad most especially time. Opt to choose digital flashcards instead of index cards. Free is better that cheap.
7. Walk or ride a bike or public transportation
8. Bring packed lunch or eat at the cafeteria
It is very tempting to eat at a fast food chain or at a diner surrounding your campus. But if you do this you’d become broke. If you’ll bring a packed lunch, you’re sure it is delicious, clean, healthy, and free. If that is inconvenient for you, eat at the cafeteria. Food in cafeterias are usually affordable. Also, try to look for “budget meals” for students.
9. Go home straight after class or choose free hangout places
Spending money does not end in school, it extends to after class. To avoid spending more, go home and eat snacks there. If you would like to hangout with friends, choose places that are free. You may go to your friend’s place, a park, a beach, etc.
10. Use student coupons
Restaurants, bookstores, and other shops offer students coupons and discounts. These may not be really big but at least you may save some bucks.
Saving money as a student is very doable. As young as we are, we must know the value of money. To be able to achieve our financial goal, we must be disciplined. Remember, free is better than cheap. You may also open a savings account and deposit your savings. Interest may not be that profitable at least, there is.
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