Saving money as a student can be hard. Life in a university can be expensive, and as a student, your budget is limited. You have certain liabilities that need to be paid off every month.
These include costs for rent, electricity, and internet, books, travel, food, and drinks. Unless you work part-time for 20 hours a week, you need effective money management to keep your finances under control.
Taking advantage of your student status and using the right money-saving plan, you can successfully save money.
Saving money while in college is a habit that a student needs to practice, even if he or she is under circumstances that prevent them from doing so.
This may require them to force certain rules and keep their expenditure in control. Here are 6 ultimate saving tips that will help you in saving money while studying.
1. Pay your bills on time
Setting up direct debit for your regular bills, so they are paid automatically each month, will make them easier to keep on top of. You may even receive a discount for doing so, and you will avoid any charges for late payment.
2. Keep track of your spending
keeping track of your financials is the best to make to sure you do not over and land yourself in trouble. Create a spread sheet showing your income from student loan scholarship and bursaries, Note down regular out going your rent and mobile phone contract. You will then be able to see exactly how much you have available to spend each month.
3. Stick to your limit
Sticking to your limits as never been easier. Money can be existing but try not to spend to much of your student loan once it comes in – as tempting as it may seem, you don’t want to be left penniless for the rest of term.
4. Be smart with your food shopping
Food will be one of your your biggest cost, it is what worth finding ways to reduce your bills. Buying supermarket valve product rather than well known brands, and shopping at the end of the day when many items are discounted, are some of the simplest ways to save money.
5. Prepare your own food
Look into cooking with your house mates or planning your meals in advance. You will afford the need for too many expensive take-aways, working on your culinary at the same time. You will also be saving money by making your own part lunches.
6. Save on transport
Most universities are either city base with excellence public transport links, or campus based with everything you need on your doorstep. You will probably won’t require a car while studying, which will save you a lot of cash.
7. Buy second hands books
Only buy the most important books, and even then you will be able to find cheap second hand copy online or through your university, Sell them on when you are finished with them to recoup some of the cost.
