Money Saving Tips For Students
In today’s world, students are spending a lot using their own allowance (transportation, food, books, movies, etc.), which results to no saved money for them. If you’re that kind of student that is struggling to save money, then these money saving tips for students below is a must read for you.
Things Students Can Do To Start Saving Money Effectively…
- Change the way you think You want to start saving money, right? Then start changing your mindset now. It’s not good for you to think that it’s alright even if you run out of money because you have your parents to provide them to you. Remember that there will be a time where you’ll have to earn money yourself and a good time to know the value of money is today.
- Make a budget Know how much is your allowance and decide where it will go. You don’t have to spend all of your allowance. The less you spend the more money you save.
- Drink before leaving Drinking plenty of water is a great way for you to be well-hydrated before you go to school and for you to avoid spending money for just a bottle of water. You may also bring your own water with you, if you want to.
- Bring your own lunch Another good way to save money as a student is to prepare your lunch at home and bring it to you to school. It can save you a lot when it comes to your food expenses.
- Just walk If you’re a student whose home is close to his or her school the best way for you to save money as a student is to walk and to not take any form of transportation that can cost you money. If you’re not, then just take the cheapest public transportation available in your area. You don’t need to spend too much when traveling from your home to school and vice versa.
- Stay active Don’t be addicted to computer games, it will only lessen your money. Instead, start playing any sports you like and make yourself healthier. A healthy body is cheaper to maintain than being unhealthy.
- Buy used books Need a book for your class? Ask around your school or your friends, if they have one and borrow it from them. If they want you to pay for it, then it’s okay. It will certainly cost less than buying a brand new one.
- Buy online If your planning to buy new things or even used ones, then why not look first for them online. It’s easier to find it there and sometimes it can even save you a lot of money and time.
- Avoid going to the mall One of the things students must avoid for them to save money is going to the mall. It can only lead to you spending and not saving money.
- Think before buying If you’re going to spend on something, make sure that it’s something you need. You can also avoid impulse buying if you would think before you buy.
- Always ask for student discounts A money saving tip that only students can take advantage of is availing of student discounts. You can get student discounts in public transports, restaurants and even in malls, if ever you decide to go to one. Remember to always bring your school ID with you, it’s required for you to avail of these student discounts.
- Take advantage of your school’s library Your school library was made for students like you, so why not spend some spare time in there. You can read different books and if they have computers in the library, you can even use it for free.
- Apply for a scholarship Take the time to look for scholarships that you’re eligible to apply for. It will definitely save your parents a lot of money in your education. They can even give you an additional allowance for being such a great student.
- Socialize with good friends Your friends in school will have a great influence in your life, so choose them wisely. Always remember that you can have a better time in school with good friends than bad. It would be great if you’re friends are frugal too but sometimes having a rich friend can also be good too, if you know what I mean.
- Dine out in groups If you’re going to eat at restaurants, then come with your friends. You can share the food and expenses together. It’s a great way for you to enjoy and also save money as a student.
Recommended Reading: How To Save Money On Food
- Watch movies at home or your friend’s house Watching movies in cinemas are expensive, why not rent or buy a DVD and watch movies at your home or your friend’s house instead. You can also make your own popcorn at home, that’s another great money saving tips for students like you, isn’t it?
- Read books Your a student, so your past time should be learning new things. A good way for you to do that is by reading books, you can also read books about finances that can educate you how to manage finances properly today and in the future as well.
- Open your own savings account With all the money saving tips for students said above, I’m sure you’re going to save a lot of money and a good place to store them is at a real bank and not in a piggy bank. Your saved money is more secured and will be growing little by little when in there.
Recommended Reading: Opening A Bank Savings Account In The Philippines
- Take a rest You don’t have to do something for you to save money as a student. You can just take the time off and rest at home. I really recommend that you sleep a lot whenever possible because I know, myself, how stressful being a student is.
- Subscribe to Think Rich. Be Free. Think Rich. Be Free. is dedicated in providing you good financial tips and advice, especially for students just like me. You can learn many things here from saving money to investing to starting your own business and many more. Have I mentioned that it’s FREE to subscribe, so what are you waiting for…
“Money will come when you are doing the right thing”
– Mike Phillips