When you are a student, it is important to be sensible with money. While you can still enjoy yourself and make the most of university life, you have to ensure you have cash left over for rent and other outgoings. It’s not an easy or exciting task, but if you are careful and creative, you can have enough to cash to live on while saving money in the process. Here are six ways to help you:
1. Set Up a Budget
Once you know how much money you’re going to have for the school year, set yourself up a budget to stick to. This will be a great way of keeping track of bill payments, daily expenses and the savings you’re making. It may also encourage you to change or remove certain outgoings if you feel they are too expensive.
2. Don’t Go Credit Crazy
While student credit cards have a low credit limit, you could still find yourself running up a large bill if you use it too regularly. If you decide to apply for a credit card, ensure you get one with a low interest rate and a balance you can pay fully each month.
3. Check Out What’s On Campus
Before you head into town and spend a lot of money on movies or gym memberships, see what your campus has to offer. In many cases, you may find everything you need, and you will pay little or nothing at all for things like movie nights, fitness classes and much more.
4. Sell Your Old Laptop
If you need to upgrade your laptop, don’t toss the old one away. If it is in decent condition, you can make some extra cash by selling it online. You can put that money towards a newer model, or you could put it in your savings to have when you really need it.
5. Cut Back on Eating Out
Sometimes, eating out or grabbing food on the go is a necessity, but doing it all the time can be both costly and unhealthy. You can save a lot of money and eat right by preparing your own meals. Don’t deny yourself the odd snack or two, either – just avoid buying them on the go from vending machines or convenience stores.
6. Hit the Thrift Stores
When setting up your apartment or dorm room, it isn’t necessary to buy everything brand new. Bring as much stuff from home as you can, but if you need to purchase things, check out local thrift stores, charity shops and yard sales, as well as internet sites like eBay or local Facebook groups where people post second hand items to sell or give away.