Save money, is it really required at this stage. Being a student is not easy, you may have thought of enjoying your life to the fullest during this period. It is okay to do so, but not at the price of spending your or your parent’s hard-earned money. When it comes to money, we need to be a little bit careful.
We often go on buying things without having any account of the money spent. It is very important to differentiate between essentials and nonessentials. Student life is the checkpoint where you need to start learning the management of your money.
If possible try to save as much as you can, it will help you in saving your future. Here in this post, I am going to share some best ways to help you save money as a student. Let us get started.
1. Money management
Money management helps you keep track of your money, budget, finance, and expenses. It is always better to start early and plan wisely.
Most often when we spend without keeping track of our expenses, we end up spending more than the required amount. Always plan your budget accordingly and spend wisely.
You can use android apps like Wallet to make your money management easy.
2. Avoid eating out
Almost everyone is tempted to outside food whether it be fast food stall or restaurant. The cost of eating outside is always greater than that of eating at home.
It does not mean you should not eat food outside, try to keep it to a minimum. You can limit your outside eating to special occasions like birthday parties or monthly get-together.
Fast food on stall may be cheaper to fit your budget, but it is not healthy. If you don’t have time to cook your food, it is better to join a mess. A mess can help you save both your time and money.
3. Save money on Textbooks
Textbooks are one of the main essentials in a student’s life, it can be super expensive if not managed properly. Try to save as much you can on your textbooks
Try to save as much you can on your textbooks. In college, you will have to change textbooks every semester. Get books from your local library or campus library to save money on textbooks you may not need longer.
You can also follow my article on best tips to save money on College Textbooks.
4. Save on transportation
Driving to college with your motorbike or car may make you feel good and comfortable. But petrol or diesel cost can really add up the extra amount on your budget.
If possible try to use public transport as it will cost you much cheaper. Also if your college is not that far then try to ride a bicycle. It will save you money and also will keep you physically and mentally fit.
5. Save more on shopping
Students in their teenage do frequent shopping and spend a lot on nonessential items. Avoid shopping with your friends, as it increases the chance of buying more than required.
Rather than buying frequently, it is better to make a monthly list of all the required items and buy all at once. It will help you get additional discounts.
While purchasing in bulk, prefer online shopping as it can help you save more. Look for special events like “Big billion day” or “festivals” to avail more discounts.
6. Save on tuition fees by Scholarship
You can save a good amount on your education by applying for scholarships. Never ignore any scholarship opportunity. Tuition fees are a major load on our expenses, so try to save more out of it.
Look out for available government and university scholarship schemes. I was able to cut 75% of my tuition fee with the help of a scholarship.
Indian government provides more benefits to female students to encourage girl’s education. So, be aware of such schemes and don’t miss any such opportunity.
7. Start to earn money as student
Even if you are a student, you must figure out ways to earn money. There are plenty of options available for students to earn money.
You can apply for an internship during your vacation and earn money and work experience. This experience will also help in getting a job in a better company.
Look out for any part-time job opportunity near your campus. You can join a sales company and work as an independent marketer to sell goods in rural areas. You can earn a huge commission by selling goods.
Saving and earning money as a student, can help you grow financially in your life. Never stop thinking about money, as it is what you will need in your life to fulfill your dreams. Always think twice before going to spend on any product. Plan properly and save wisely.
Thanks for reading, please provide your valuable feedback in the comment section below.
2 thoughts on “How to save money as a student?”
Nice thoughts that can be performed by the students. Good blog.
@puneet Thanks for your feedback.