Top 10 Ways to Save Money as a Student

money saving tips for students

Written by Shreya Berry

Her foray into blogging was not planned; it was accidental. Started as a writer at the age of 15, Shreya has expertise in writing engaging content for the readers and has a deep interest in unique applications of technology in various domains.

Last updated Nov 11, 2020

Let’s be frank here; saving money is no easy job, particularly as a student. It is no wonder, though, that keeping your monthly allowance in green digits instead of red ones will lead to less uncertainty, less financial difficulties, and much simpler budget decisions, of course. But without any further due, time to see how you can use one of our money saving tips for students.

As soon as the loan comes through, budget.

It’s hard to resist the little inner voice shouting at you to “TREAT YO’ SELF!” as soon as your loan has fallen into your bank account. To fight the temptation to do so is nothing short of terrible. But believe us when we say that budgeting is completely vital for protecting your pennies at university as soon as your loan reaches your bank account. In earnest. Set aside cash for your important costs, such as your mortgage, utility costs, grocery market, and some investments before you do something else. As a result, you will be confident that all your bills are going to be covered, and you can know just how much you have left to invest as you wish.

For the right student bank account, search around.

Banks will deliver a plethora of irresistible benefits each and every year to lure students in. Before you plunge head-first into the first bid you see, make sure you make an effort to find and compare the best student bank accounts on the market. Arguably, an interest-free overdraft should be one of the main goals when picking your student bank account-having one allows it a secure back-up when dealing with any immediate, unforeseen, or emergency expenses.

On nights out, leave your card at home.

Speaking of nights out-it is a risky game to take your card out with you on a big night out, and we do not suggest paying with it. Alternatively, take out some cash and leave your card at home safely. That way, you can be confident that when you look at your bank balance the next morning, you’re not going to drunkenly spend much over budget, and you’re not going to be scared.

Get the best out of the pre-drinks.

We are serious. In your university town, even the local student-friendly bars and pubs can be very pricey, particularly if you hit them every other night. So, bring your mates together and make the most of the pre-drinks in advance.

Don’t browse for food when you are hungry.

It is a genuinely wonderful thing to have the freedom to buy your own food, but it can be too tempting to overspend, particularly when you shop hungry (or hungover). Instead, prepare your menus down to the very last ingredient in advance. That way, you’re going to know exactly what you need to get and how much you need to pay, and you’re going to be much less likely to lose money. Pre-planning your weekly menus also ensures that you would be less likely to order a pricey takeaway. It is one of the best money saving tips for students.

Put the effort for your housemates to cook.

Why not attempt to lower the cost of your grocery store any more by clubbing along with your housemates on the subject of cooking? Not only are you going to save money, but you’re going to get to spend more time with your roommates and maybe even improve your culinary skills. You will find a plethora of simple, student-budget friendly recipes on sites such as BBC Good Food. You don’t even have to shell out on a cookbook.

Don’t hurry to purchase textbooks.

You may get a minor heart attack at the beginning of the school year when you get a reading list worth higher than the house of your parents (well, not exactly, but it may definitely sound like it). Believe it or not, not every book on your reading list is an utter requirement, and it can also be a massive waste of money to purchase each one, especially if you buy them brand new. Wait a bit to suss out which key texts you really like, and you can even buy them from older students second-hand. As for others, you can still borrow them from the library if necessary.

Get to know your discounts.

The overwhelming number of discounts and student benefits that are on sale to you from an array of vendors is one of the greatest advantages of being a student. Get to know the high street retailers offer the greatest discounts, and on all your basics, such as research products, garments, food, toiletries, and more, you can save money. Having to know the discounts for students could save you a fortune!

Earn some additional income.

Grab one to gain a bit of extra money if your course provides ample spare time for you to take on a part-time job. For shop employees, waiting for staff and bar staff, university towns also have daily vacancies. If it is not a choice for you to take on a part-time role for whatever reason, there are plenty of money-making options to be found online, such as student brand ambassador schemes.

A penny a day.

When speaking about money saving tips for students there are no better means of ending than for an old-fashioned way of saving money. All you have to do is start with one penny, then set aside two the next day, begin with three the day after, and there you have it! Think of it as a competition.

You’d be able to save over €650 if you try to keep up with this pattern for a whole year, or 365 days! Now, right there, that’s a lot of pennies!

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