Saving money whilst studying

28 Aug 2019

Students, sometimes, find difficulties in trying to manage their funds and savings whilst studying. College tuition, rent, textbooks and nights out require a substantial amount and if you’re careful enough, you could save some money during this period. Here are 5 tips on how to save whilst studying. 

Set a monthly budget. Planning is key. You know well enough how much you should be spending, and overspending could lead to serious financial problems. Setting a limit on how much you should be spending helps you keep in line and spend carefully, on items that you need. It’s important to focus on what you need at this time, rather than on what you want. 

Pay rent on time. It’s not only good practice but also gives you clear indication of where you stand financially and how much money you have left. In addition, this helps to establish a good relationship with your landlord, who will get to know that you’re reliable. 

Keep an eye on deals. Multiple shops offer student discounts from which you can benefit. You may get reduced prices on transportation fees or clothes, books or technological products or you could receive a particular reward after a certain number of purchases. Moreover, when shopping for groceries, stay on the lookout for offers on food items, drinks and other essentials. 

Take-outs may be expensive. Now that you’ve bought your groceries, you’re ready to cook! Cooking for yourself at home is a much cheaper option than ordering takeaways and eating out on a regular basis. One problem students face is that studies take up too much time that they don’t have time to cook – however, cooking for the whole day or the next day would save both money and time. 

Second-hand textbooks. Let’s face it – it’s very unlikely that we’ll read or use the course textbooks once we’re done. Buying second-hand course books allows us to get the required book without paying the full price. Most second-hand books that are sold are still in a pretty good condition and will do the job.