How To Save Money As a Student: 10 Easy Tricks For The Student Budget
Finances can be daunting for many students, whether figuring out how to get through a tough semester with less stress or managing the money you have each month to save. This article will expose you to 10 financial tips on how to save money as a student and become self-sufficient.
Make your own meal
Canned goods, boxed dinners, and frozen dinners are not ideal for those on a budget. They can be expensive and often contain unhealthy ingredients. These days, there are plenty of easy and cheap meals you can make at home. Let’s look at some of the best ways to save money while eating healthy.
Plan Ahead
One of the best ways to save money as a student is to plan ahead and buy groceries in bulk. This way, you can get a better deal on food and avoid buying multiple food packages. Plus, it’s a great way to get creative with your meal ideas!
Make Your Own Meals
Among others, making your own meal is part of the best ways to save money as a student. This means you can cook your food using fresh ingredients instead of canned or frozen foods. You can also create some delicious side dishes or desserts using simple ingredients that you might have in your kitchen.
Shop at Local Grocery Stores
If you can make it to a local grocery store, shops like these tend to be cheaper than big box stores and have more product variety. Plus, you’re helping support small businesses!
Meal Prep First
If you’re short on time, one option is to meal prep your food before work or school instead of cooking from scratch each night. This way, you’ll have healthier meals ready when you actually want them and won’t have to spend time.
Prepare your own coffee
Like most college students, you spend a lot of money on coffee. A single cup of regular coffee can cost over $2, and a pound of ground coffee can cost as much as $10. Here are some easy ways on how to spend less money and save more on your coffee fix.
Invest in an Aero Press
This coffee maker is compact, lightweight, and easy to use, which means you can make great coffee at home for a fraction of the price.
Brew fewer cups
If you’re only drinking one or two cups of coffee a day, it’s not worth breaking the bank to buy more. You can make enough coffee for several days with just one pot.
Try cold brew
This popular style of coffee is made by brewing cold water over grounds that have been steeped for hours. It’s smoother than regular coffee and has less caffeine, so it’s ideal if you’re looking for an energy boost without the jitters.
Invest in a reusable mug
Not only do these mugs help reduce waste, but they also help you save money on your coffee habit. You can usually find them at thrift stores or online for around $10.
Buy or Rent used books for Class
Buying used books from your campus bookstore is a great way to save money on your classes. However, you may also consider renting used textbooks from the library or online. Here are some helpful tips on how to save money as a student if you’re keen on how to rent textbooks affordably.
First, identify the courses you will need to take and research the rental prices for new and used textbooks for those courses. Many universities have online rental databases that make it easy to compare prices and find the right textbook for your needs.
Next, decide which textbook rental program will work best for you. Some libraries offer eBook rentals, while others only offer paperback rentals. If you plan on using the book for more than one semester, it is usually more cost-effective to buy a new copy rather than rent it several times.
Finally, budget for the cost of your textbooks and factor in any late fees or loss penalties that may apply. Buying new textbooks can be expensive, but renting them can be even more so if you don’t plan ahead.
By taking these few steps, you can ensure that you are spending as little money as possible while still getting the required materials for your classes.
Take Advantage of Student discounts
There are so many money-saving tips for students, but some of the best ways include taking advantage of student discounts. Most colleges and universities offer discounts on food and clothing, as well as discounts on classes and services.
Many schools also offer financial aid opportunities, which can help you cover the cost of tuition, room and board, and other expenses. It is very vital to do your research to find the most valuable discounts available to you.
One easy way to take advantage of student discounts is to sign up for your school’s email notification system. This will allow you to stay current on all the latest deals and discounts. You can also sign up for newsletters or online magazines that offer valuable coupon codes.
In the absence of email or online magazines, there are numerous online resources that will provide you with discount codes for a variety of items and services.
Once you’ve found a few good sources, it’ll be easy to track down all the savings opportunities available.
Apply for Scholarship
To afford to continue your education and stay afloat financially, know how to apply for scholarships. Scholarships can range from $1,000 to full tuition grants. You don’t have to be a millionaire or even wealthy to qualify for many scholarships.
In fact, many scholarships are available just because you’re a good student! When applying for scholarships, have a good application packet ready. These include your resume, letters of recommendation, and any extracurricular activities you’ve been involved in.
Also, ensure you have all the required transcripts and fees paid in advance. Once you’ve compiled your application packet, start submitting it online. There are a lot of Scholarship Crowd search engines that will help you find scholarships specific to your interests or goals. Just type in the keywords “scholarship” + “your name” and check out what comes up!
Another great way to find scholarships is through the National Association of College Registrars and Admissions Officers (NACRAO).
This organization maintains a nationwide database of millions of dollars worth of scholarships online.
You can search by topic (e.g., arts, business), geographic location (e.g., California), or academic area (e.g., mathematics or science).
Unsubscribe from unnecessary subscriptions
If you’re feeling overwhelmed with all the bills and expenses, there are some good simple ways to save money as a student.
One of the easiest ways to save money is to unsubscribe from unnecessary subscriptions. It might be challenging to know when to cancel a membership, but there are a few guidelines you can follow.
- First, make sure that the subscription is beneficial to you.
- Second, consider how much use you’ll get out of the service.
- Third, weigh the subscription cost against what you’ll save by canceling it.
- Fourth, consider whether or not you’ll miss the service if it is canceled.
- Fifth, ask yourself if you really need or want the subscription in the first place.
Once you’ve decided to unsubscribe from a subscription, you must follow through with your decision. Canceling a subscription can be annoying, but it’s worth it if it saves you money.
Shop with Coupons
If you’re looking for how to save money as a student, it’s important to know how to use coupons. Coupons can be found in newspapers, magazines, or online. You can also find them in stores.
When shopping, take the time to look for coupons and compare prices before buying anything. You may get discounts on items you would not have been able to buy normally.
Participate in community events
College can be expensive, and it’s all the more difficult when you have to come up with money on your own. Luckily, there are ways to save money while you’re in school. One great way to get discounts on goods and services is to participate in community events.
By doing this, you’ll be able to get discounts on items you would ordinarily buy and also make new friends. You can also find scholarships and grants for which you may be eligible through community events. To maximize your savings, try to find events relevant to your interests and what you’re studying.
Track how much you spend
Creating a monthly budget is a great way to manage your money and save in the short term. Knowing what expenses are coming up each month, you can plan for them and save money accordingly. The following are tips on how to save money as a student by creating a budget;
Determine your basic needs
Before you create your budget, figure out what your basic needs are. These include things like groceries, rent, utilities, and other bills. You don’t have to get too detailed here, but ensure you include everything necessary for everyday living.
Figure out what you can cut back on
After you know your basic needs, it’s time to figure out where you can cut back.
These include transportation costs, entertainment expenditures, and unnecessary shopping trips. For instance, if you live close to campus, car expenses may not be needed (you could instead rely on public transportation).
Set realistic goals
When creating your budget, always set realistic goals for yourself. It means you should not expect to eliminate all debt or save an absurd amount of money each month. Instead, aim to make small but manageable changes that will result in long-term financial growth.
Track your progress
One of the ways to stay on track with your budget is to track your monthly progress, thereby keeping track of how much money you’ve saved.
Live with friends
Since you’re likely living in college for a considerable portion of your twenties, you must start saving side money as quickly as possible.
One way to save money as a student is to live with friends. We know how challenging it can sometimes be to live with others, and if you are not used to it, you don’t have to freak out. You can make it simpler by doing the following.
Firstly, talk to your friends and see if they’re up for sharing an empty room or apartment.
Secondly, set some ground rules. Everyone should contribute what they can, and no one should be stealing from or exploiting the other residents.
Lastly, make sure you all have adequate insurance policies in place in case something goes wrong. Living with friends has its pros and cons, but overall it’s a great way to save money and budget. Just be careful to review the conditions and understand the risks involved before making any commitments!
Conclusion
Student life can be tough, with tuition costs rising yearly and the need to find ways to cut corners wherever possible. This article is designed to help you save money on food, clothes, and other essentials while upholding a healthy lifestyle.
By following these tips carefully, you can save money, live better, reduce your overall expenses considerably and get the most out of your student years.
