Saving money is always important, particularly if you are a student without as much of a fixed income as an adult would have. There are many ways to save money and ways to carry these out can be found both on- and offline for anybody who needs tips for how to get started. Saving money is important because it means that there is money available if there is an emergency of some sort; either you lose your source of income and need to live on your savings for a while, or some emergency happens and you need some extra money to cover repairs, trips, or some other expense which might not be part of your regular budgeting.
Why do you need to start saving money right now?
Saving money should be started as early as possible, for two reasons: one is, the earlier you start saving, the more money you end up with, and the other is, the earlier you start getting into the habit of saving, the better. Habits formed early will stick with you more easily throughout your life.
So, how to save money as a student?
Limit Eating Out
We’ve all had that night where we are so busy that is easier to order something in, or drop by the local fast food restaurant, rather than stop everything to cook a meal. But this is actually bad policy, as regularly eating out is something which can eat up lots and lots of money very quickly.
Eating out may save you time, but cooking for yourself saves you money – it is much cheaper to cook for yourself, and then freeze everything for later. Yes, this can take a significant chunk of time every week, but look at the maths realistically – for ten pounds (less if you have built up a pantry of things like tinned tomatoes, oats, and flour), you can feed yourself for a week, maybe slightly more, for three meals a day.
Buy in Bulk; Don’t Make Impulse Purchases
Saving money is all about willpower – you need to keep yourself in check when buying things. A lot of food is available in bulk, and it can be considerably cheaper than buying it in the usual packages which are available on supermarket shelves. If you eat a particular food regularly, such as pasta, consider buying the pasta in bulk.
On the same note, when you are shopping, try and avoid impulse purchases. When you need something, write it down on a list, and do your best not to deviate from that list at all. Impulse purchases waste your money and often are not quite as useful as you thought they would be.
Don’t Buy Unnecessary School Supplies
It is tempting to stock up on supplies for school before you go back – take advantage of all those sales which are going on at the time! But it is best to keep the supplies you know you will use because otherwise, you will end up with extra notebooks lying around your house not being used. It is a waste of money.
Monitor Cell Phone Usage
Cell phones are incredibly useful these days – they are literally a tiny computer which can fit into a pocket. Most of us have payment plans for our phones, which pay a certain amount each month so that we can have a certain amount of texts, calls, and data usage for the internet.
Make sure that you don’t go over this! It’s one of the easiest ways to go over budget because it is so easy to do. Keep a close eye on what you are doing with your phone.
Look into Using a Campus Gym Rather than a Gym in Town
Using the campus gym when you are a student still costs money, but it is substantially less than you would pay for a gym membership anywhere else, so look into using the gym on campus if there is one. You can save the extra money, just as a bonus.
Don’t Buy Books you Need for Short Periods of Time
Some books you will be using every single day of your educational career, but others you won’t. To save money, don’t buy these books – go to the library and loan them out so that you save the cost of buying them.
Do your Writing Assignments on Time
There are essay writing services like www.essayzoo.org which can write your essays and papers for you, but these cost money. To save money, do your work yourself, and make sure that you do it in good time, to prevent any accidents.
Look for Low-Cost Travel Opportunities and Student Discounts
Travelling can be expensive, but many places have student discounts or times when they offer cheaper traveling rates. When you want to travel, look out for these things, as you can save money on travel, while still getting to experience the world.
Wrapping it up
There are a lot of ways to save money, most of which can be found in various place either on- or offline for those people who want to look things up to get started. This article contains some ways in which students specifically can save money in their day-to-day lives, and hopefully, it will help whoever is reading.