Studying at university is meant to be one of the best times of your life according to many, but with so many new bills to pay and costs that you incur it is important that you take a more serious approach to the concept of money and look for ways to save as much as possible. Saving money doesn’t mean that you have to restrict your buying to only the bare minimum such as food! There are many simple ways in which you can save money during your student life.
- Student Discounts – Look for stores which offer student discounts and utilize any student discount cards that your university or education provider might have given you. Large stores or companies such as Microsoft and Apple often provide student discounts for their products and are well worth looking out for.
- Buy Used – Buying used can save you a bundle of cash and should definitely be considered when buying items such as textbooks for your course. Buying books from second or third year students can save you a lot of money and the only difference will be a few marks on the cover or perhaps some writing on the inside. Do be wary about buying second hand electrical items as many will no longer have a warranty.
- Cook – Many university students don’t like the thought of cooking and would rather pay to eat out to avoid the hassle, however this costs a lot of money in the long run. You can find a lot of easy to make meals for cheap at your local supermarkets which take less than thirty minutes to prepare and cook. If you live with a roommate or two then you could all contribute a little to the cost of the meal.
- Student Unions – If you know that there are activities that you would like to participate in then you should consider joining a Student Union. Many Student Unions will charge a small yearly fee and allow you to participate in many activities that they arrange for free or give you a percentage discount.
- Dorms – Campus accommodation is generally much cheaper than renting a private apartment and will also prevent you from paying travel costs for the bus or car as you will be close the university.
- Rent – Try to find a roommate or two to share a room with so that you can split the rent equally. Splitting the rent allows all of you to pay less rent than you would if you lived alone and can save you a lot of money in the long run.
- Parties – College and university life can be a stressful time and one of the ways that many students choose to relax is by going out drinking and partying. While there is nothing wrong with partying, it is best to do so in moderation. This means that there is no need to go out drinking excessively every night of the week, instead cut down either the amount you spend each night, or the amount of nights that you go out partying.
- Think – Ask yourself if you really need to upgrade your iPod Nano to an iPod Touch, or if you really need the latest laptop. Don’t buy things just to fit in with friends or look ‘cool’ whilst at university; buy things that you see as important and beneficial. It can be all too easy to buy on impulse and then wonder why you brought what you did.
- Plan – Work out how much money you have to spend for rent, travel and other necessities such as food and bills and then work out a safe allowance which you can afford to spend on other items.
Overall studying at university doesn’t have to be as expensive as people may make out if you shop smart and make an effort to save money. Be aware of the money that you spend and be sure that you can afford any potential purchase before you splash the cash on the purchase.
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