Student life can be expensive with all the nights out, equipment demands, rent commitments, and travel demands. With such a tight budget, it is essential to save costs wherever possible. However, cutting down on expenses is not always the easiest, most intuitive task. A little bit of research and planning can go a long way to making that student loan stretch the whole semester and this useful advice article provides some tips for addressing common problem areas.
Make a Budget
If you have never made a budget before, now is the perfect time to learn. Budgets are advantageous to students for many reasons because they are an easy-to-follow representation of incomings and outgoings expectations. Course materials, equipment demands, nights out, food, rent, and other bills can all be included to provide a deeper insight into monetary responsibility management. Student loans can always be supplemented by a part-time job that works around studies, and some learners need this extra income to cover basic expenses while studying.
Use Your Student Discount
Student discount is offered by the majority of retailers and is used for everything from essential tech equipment like these Student Discount PCs, to buying clothes. A valid student ID will be required to receive any student related discounts, but that is easy enough to source and usually provided by the college of attendance.
Try Buying Second Hand
Thrift stores and charity stores are a handy tool for students when it comes to finding a bargain purchase. They sell clothes, books, entertainment, home décor, you name it – there is a surprising variation of items to look through and donations are in constant swing. So, there will always be something new (ish)! Though we’re not advocating for constant shopping sprees, if you are short of anything try browsing used items first. Also, second-hand e-marketplaces like eBay and similar always have discounted items in superb conditions and are a viable option for technology purchases or furniture.
Look for Student Specific Events
College towns tend to cater to their student residents by running specific events at local venues. Shopping evenings, drinks discounts, food vouchers, and on campus promotional events are just a selection of common dedicated events that are run from time to time.
Cooking vs. Takeout
Takeout food is tempting after an evening of fun with friends, but it is counterproductive to a tight budget and often leaves college kids too far into their student overdraft. Cooking, and having a meal plan, is not only an excellent social tool, but it also saves money over a semester. Meals with friends teach valuable life skills and are a way to build relationships so consider hitting the local supermarket and sourcing up some ingredients for a delicious night in instead.
Students have innovative ways to save money wherever they look. Student loans don’t always leave a lot of recreational funds and, therefore, the cash that is left over after bills are paid has to be used wisely. It is possible to live on a tight budget – you just have to be savvy.
