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Saving Tips for Students

 

Do you have fine wine tastes on a cheap beer budget? It is okay. Most varsity students are living on a budget. If not they are likely students getting themselves into a cycle of debt. While neither is fun or easy, you can become smarter about the way you spend your money. Keep in mind that the key to financial success is being aware of how you’re spending your money.

Also know that there is a difference between being cheap and having spending savvy. There’s nothing wrong with living within your means, rather than beyond. Here are some saving tips for students:

1. Budget During the First Week of Term

It is hard to budget when you are keen to have fun, but it is worth holding off on extravagant spending early on. If you want to go out and celebrate at the end of the term.

2. Plan Meals in Advance

Walking back from a lecture, instead of pick up lunch and a coffee with friends, try preparing food at home. It is a great way to save money over the week, and there’s no need to cut back on the ingredients you love if you budget properly.

3. Enjoy Your Student Discounts

Congratulations! As a student you are eligible for a ridiculous number of discounts – almost everywhere. This does not mean you should be increasing your spending just enjoy them, but it does mean saving when you do go shopping.

4. Travel Smarter

Travelling home for a weekend or visiting friends at other universities can be costly, but do not let that put you off. Why not travel with other people? If you have a car, you can offer seats to paying passengers, raking back a third of petrol costs for each person you take on board.

5. Sell, Sell, Sell

Your textbooks are surprisingly valuable, so when you are sure that a book’s future is to sit and gather dust, sell it. The same goes with your clothes. Rid yourself of every fashion faux-pas and head to a marketplace if you think they are worth a buck or two.

6. Buy Non-Branded

We understand that there is something less glamorous about supermarket value ranges, but do not let that stop you. Avoiding the household names can mean a hefty saving on filling the fridge, so it would be wise to look beyond the labels.

7. Get a Part-Time Job

We get that not every university gives you time to put your all into studying while working in a bar on the side. If you can’t balance both. Then try taking part in paid online surveys or market research focus groups.

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