There will be many things you will need to pay for throughout university, such as textbooks, social events, rent, groceries, and clothing. Unfortunately, all these items and bills can quickly eat away at your finances. To keep your bank account in the black, find out how to save money at university.
Find Affordable Accommodation
Many freshmen, sophomores, juniors and seniors will be looking for the best student accommodation each year. Due to high demand and competition, you will need to act quickly when securing luxurious yet affordable housing, which will reduce your expenditure and improve your experience for the year ahead. Look for accommodation that features all-inclusive facilities, such as free Wi-Fi.
Plan Your Social Life
You can save money and still have a flourishing social life. You simply need to be a little smarter with your finances to avoid wasting money. To do so, it would be wise to plan your social life in advance, so you can take advantage of early bird deals or coupons to receive discounts at a bar, restaurant or for an upcoming event. Planning your social life will also help to make your studies a priority, as you will be less likely to skip studying to hit up a bar with your classmates. Although you want to be frugal at university, don’t miss out on events purely because of the price.
Cook Your Own Meals
There are many student-friendly recipes available online that can make cooking as simple as possible. Stop wasting your money on unhealthy takeout or expensive restaurant meals, and top up your bank balance by cooking at home. If you want to dine with friends, invite them over for a meal or to help you cook a delicious feast you can all enjoy together. The money saved can then be used towards clothing, textbooks or put towards a rainy-day fund.
Cut Out Your Expensive Habits
Most people have at least one expensive habit they can cut out of their lifestyle, such as splurging too much money on clothing or smoking cigarettes. Review your income to identify where you are spending your money each month, and cut out any expenditure you don’t need, such as the daily coffee or unnecessary junk food.
Don’t Shop on an Empty Stomach
Shopping on an empty stomach could result in you spending more money than you need to when buying groceries. Those annoying hunger pangs could force you to buy items you don’t really need – or even want. So, make sure you have a full stomach before you visit the store, as you could save yourself a substantial amount of money.
Retailers compete daily to secure customers, so will regularly slash their prices. That’s why you should avoid paying full price for items you could find cheaper elsewhere. For example, if you need to buy a new laptop, browse the market to find the best price. If you’re not desperate on the device, you should wait until the January sales when retailers will happily reduce their prices, and you can save hundreds of dollars. As students, you’ll also be eligible to special discounts curated for students to take advantage of; make sure you check for these types of offers before spending your money.
Do you have any helpful tips on how to save money at university? Share your advice by posting a comment below.