As a student, you are probably always looking for ways to save money. The good news is that there are plenty of things you can do to reduce your expenses without making too many sacrifices. In this blog post, you will read about six money-saving tricks that can help you live within your means!
1. Consider DIY
There are tons of things you can do yourself instead of paying for the service. You can cut your own hair and all you need to do is buy scissors online that are precise enough to give you a good cut. You can cook your own meals instead of eating out all the time. Not only is this healthier for you, but it’s also cheaper. And if you’re considering getting a pet, there are plenty of animals that are low-maintenance and won’t break the bank.
Of course, not everyone is into DIY or has the time for it. But if you are, it’s definitely worth considering as a way to save money as a student. There are tons of resources online that can help you get started with whatever project you’re interested in pursuing.
2. Create A Budget
Make a weekly or monthly budget and stick to it. This will help you become more mindful of your spending habits and where you can cut back. Track your expenses using a budgeting app or good old-fashioned pen and paper.
To make a good budget, start by creating a list of all your sources of income. This could include your part-time job, allowance from parents, scholarships, or grants. Then, make a list of all your expenses.
Be sure to include both fixed costs (e.g., rent, tuition) and variable costs (e.g., food, entertainment). Once you have an idea of how much money is coming in and going out each month, you can start making adjustments to ensure that your spending doesn’t exceed your income.
Saving money as a student doesn’t have to be difficult – it just takes a little bit of planning and discipline. By following these simple tips, you’ll be on your way to financial success in no time!
3. Make Meals Ahead Of Time
If you have a freezer, making meals ahead of time can be a lifesaver. Simply cook up a storm on the weekends, and then portion out your food into freezer-safe containers. During the week when you’re short on time and money, you’ll have home-cooked meals at the ready!
Find meals you can cook in bulks like spaghetti bolognese, chili con carne, soups, stews, and curries. Not only will this help you save money, but it’ll also give you a break from cooking during the week. If cooking really isn’t your thing, there are plenty of Meal Delivery Services that can do the hard work for you.
4. Hunt For Discounts
There are tons of ways you can find discounts as a student. These are the following:
- Search for student discounts: Many places offer student discounts with a valid student ID.
- Look for online coupons: Before making any online purchase, do a quick search for coupons. You can usually find codes for percentage off or free shipping.
- Sign up for email lists: Companies will often offer a discount to customers who sign up for their email lists. This is an easy way to save money on your favorite brands.
- Wait for sales: Patience is a virtue, especially when it comes to saving money. If you can wait to make a purchase, chances are there will be a sale eventually.
- Buy in bulk: Buying in bulk can save you money in the long run, especially if you use coupons and take advantage of sales.
5. Don’t Be Impulsive
Impulse buying can be quite damaging to your bank balance, not to mention your room’s storage space. If you see something you want, walk away and sleep on it. More often than not, you’ll realize that you don’t need it as much as you thought you did.
Whenever possible, try to stick to a shopping list. This will not only help you save money, but it will also save you time.
Control yourself when you’re out with friends. It can be tricky, but if you’re on a budget, you need to be mindful of your spending. Just because your friends are buying drinks doesn’t mean that you have to as well.
6. Track Your Expenses
Always be on top of your expenses. This can be easily done through phone applications or by creating a budget on Microsoft Excel. By tracking where you are spending your money, you will be able to see what areas you can cut back on. For example, if you find that you are eating out more than you would like, then try cooking more meals at home.
You can use budgeting apps like Mint or YNAB to help you track your expenses. These can help you see where you are spending your money and give you tips on how to save.
As a student, you’re probably struggling with money, but if you do certain things on your own, it’s going to be much cheaper. Make sure to also create a budget and cook meals ahead to freeze them. Hunt for discounts all the time and don’t be an impulse buyer. Finally, make sure to track all your spending and you’ll be on your way to a better financial situation!