10 Ways To Save Money While Studying. Money can be tight, more so when you are a student. There are student loans to pay, books to buy and utilities to take care of. The following tips will help you spend money wisely during this time.
Keep Track of Your Spending
Keeping track of your finances is the best way to make sure you don’t overspend and land yourself in trouble. Create a spreadsheet showing your income from student loans, scholarships and bursaries. Note down regular outgoings such as your rent and mobile phone contract. You’ll then be able to see exactly how much you have available to spend each month.
Stick To Your Limits
Sticking to your limits has never been easier. Money can be exciting but try not to spend too 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.
Be Smart With Your Food Shopping
Food will be one of your biggest costs, so it’s worth finding ways to reduce your bills. Buying supermarket value products 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.
Prepare Your Own Food
Look into cooking with your housemates or planning your meals in advance. You’ll avoid the need for too many expensive takeaways, working on your culinary skills at the same time. You’ll also be saving money by making your own packed lunches.
Save On Transport
Most universities are either city-based with excellent public transport links, or campus-based with everything you need on your doorstep. You probably won’t require a car while studying, which will save you a lot of cash.
Take Advantage of Student Discounts
Many shops and food outlets offer student discounts. Even where they aren’t advertised, it’s worth asking as they are sometimes still available. If you have a favourite shop, you could try to get a part-time job there in order to take advantage of the staff discount.
Buy Second-Hand Books
Only buy the most important books, and even then you’ll be able to find cheap second-hand copies online or through your university. Sell them on when you’re finished with them to recoup some of the costs.
Make Use Of The Library
Course textbooks can be expensive, but luckily there’s no need to purchase every item on your reading lists. You can usually borrow set texts from the library whenever you need them.
Pay Your Bills On Time
Setting up direct debits for your regular bills, so that 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’ll avoid any charges for late payment.
Be Smart With Utility Bills
Use comparison websites to ensure you get the best deal and keep costs down by saving energy. Put an extra jumper on instead of turning the heating up a notch, and don’t use the tumble dryer every day if you’ve got one.