10 brilliant student money saving tips

People say your student years are the best days of your life, but they can also be the most difficult when it comes to money. As well as tuition fees hanging over your head, other expenses like accommodation, travel, food and socialising all have its price tag.

Here are a few tips to help you keep those money troubles at bay.

1. Stay at home

One of the biggest problems students face is keeping up with rent, however if you stay at home you’ll be able to save a lot of money. It’s not feasible for you to remain at home if your University is far from your hometown, but if the distance is acceptable then staying at home is a big money-saving option.

2.Give up bad habits
  
Everyone has at least one bad habit. Maybe you smoke,drink Cosmos like no tomorrow, or buy expensive coffee before class.Whatever it is, cut it out! You'll be surprised how much money you save.

3. Focus on need, not want

It’s a lot harder than it seems because student life is very sociable and despite the demanding course it’s still important you take time to have fun with your friends. However, you should prioritise the necessities rather than the trivial things. So instead of going out clubbing you could have your friends over for drinks and save on taxi, entrance fee and beverages.

4. Leave your car at home

Using a car can be very expensive so if you’re at a university that is spread around a large area, you could car share with your friends or take public transport. Also, if the university or college is gathered in a small area then walk and keep your car at home.

5. Cut out junk food

Sometimes grabbing a McDonald’s on the way home from a long day of studying is the easy option. Despite the price being reasonable at the time, when you add up the amount of takeaways over a period of time, you will see the damage it’s done to your bank account.

6. Buy used text books

Bookstores make huge amounts of money from student text books. However, buying second hand books will save you money, so have a look online or you could rent the relevant material from the university library.

7. Share the shopping bill

If you live in shared accommodation then you will save a lot of money on food if you split the bill on food shopping. Even if you have completely different food preferences you could split the bill on domestic products for the house.

8. Set a budget

To keep track of your spending you should calculate the expenses such as rent etc and then see how much you’re left with. Then create a weekly or monthly budget and stick to it.

9. Get a job

Completing a Master’s is stressful at the best of times so a job doesn’t seem ideal, however getting a part-time or weekend job in a bar or supermarket will help with money worries.

10. Student discount

Take advantage of your student status as there are many discounts out there. Ask in your local bank or at your university what discounts are available to you. Also look at voucher websites and group discount websites for reduced prices on various forms of entertainment.




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