6 Simple Ways to Make Money By Saving
June 16, 2017
Being a broke student is almost a tradition, but there’s really no need to live on ramen noodles and mac and cheese at the end of the year if you know how to spend responsibly. After all, learning how to save up is a part of being an adult.
Budgeting tips that will help you to manage your funds much better
- Course materials
Most scholarships and loans do not factor in the upfront material costs that can set students back financially. However, there are ways to avoid inordinate spending. Libraries are excellent sources if there isn’t enough to buy textbooks. Some universities provide discounts if you buy materials directly from them. Most importantly, upperclassmen often sell their books after they are done with them. As a bonus, you can sell all the materials by the end of the year and get some of your money back.
Even if you live on campus and do not commute every day, traveling home during the holidays can be pretty expensive. The easiest way to reduce the costs is applying for a student card. The discounts on railway travel can reach 80% in some regions. Additionally, try to book in advance to get reduced fares.
No one can survive on baked beans only. Eating healthily on a budget is possible by following a number of pointers. Don’t buy treats on impulse. Shopping lists are essential for those prone on grabbing random attractive-looking products from supermarket shelves. Prep your meals and buy in bulk. And always remember to stock up on seasonal fruit and vegetable. They can be frozen up and enjoyed whenever you like.
Unless you are a classic introvert and loathe social interactions, you’ll need some money for sports, gigs, parties, and nights out. Money spent on enjoying yourself is never wasted, but there are ways to be smart about it. NUS Extra and other similar websites offer student discounts on a wide range of activities. Additionally, most universities organize free events, such as film showings, cinema nights, and the like.
People living in dorms don’t have to worry about gas, water, or electricity costs, but those who are renting might want to find ways of cutting these costs. Research tariffs and suppliers. There are places online where you can compare the costs each provider is offering. Using direct debit to pay usually garners one a discount. Lastly, just see whether it’s possible to cut on energy usage in general. Remember that it is also good for the environment.
Pledging to wear the same stuff until you get your graduate degree is admirable, but simply not realistic. When you feel the urge to spice up your wardrobe, look up the prices online first. Shop exclusively in the stores that offer student discounts and look into cashback sites.
Learn more money management for students tips online!