Author: Eva Ioannou
Being a student has its own set of problems, one of them is being finance issues. However, a tight budget does not necessarily need to get in the way of having fun. All it takes is a bit of creativity and resourcefulness to have a great and adventurous student life on a very tight budget. Here are five genius hacks that can help you cut costs in key areas textbooks, food, transportation, and entertainment without compromising your social life.
1. Smart Textbooks
Textbooks rank among the highest expenses for students, however, there is a way to save. Instead of buying brand new books, find used textbooks online or at your campus bookstore. Websites like Chegg, Amazon or BookFinder offer great deals on pre-owned and even rented textbooks. If you know you will only use some books a semester, then renting can be particularly effective.
Another smart option is to investigate digital versions. E-books are much cheaper, and some libraries offer free access to digital copies of certain academic materials. You could sell any books you no longer need or use at the end of the semester. You could resell them to fellow students, on eBay, or through Facebook Marketplace. Even better, find textbook exchange programs at your university where students can exchange books for free or at very minimal cost.
2. Cook at home and meal prep
Eating out is one of the quickest ways to break a budget. Yeah, it might be a total pain to have to make lunch every day or cook up a dinner at the end of the workday, but trust me, after a while, you will save a good amount if you just stay home and cook. If you know what you’re cooking for a week, grocery shopping gets easier, too.
Meal prepping is a lifesaver for students who have tight schedule. You will have ready to eat food all week, and it saves time and money. Cooking in bulk, like making a big pot of soup or pasta, keeps you always having food without turning to takeaways. Also, find student discounts at the supermarket or local market to stretch your food budget.
3. Utilize student discounts
Probably the biggest perks that come along with being a student are the availability of student discounts for almost everything, from clothes to technology gadgets, gym memberships and entertainment subscriptions. Always carry your student ID with you and never leave an outlet without asking if they offer any student discount.
Online platforms like Student Beans UNiDAYS contain many hidden treasures when it comes to exclusive deals. These websites often feature discounts on popular services such as Spotify, Apple Music and Adobe. If you’re frequent shopper or you need to make a big purchase, check these platforms first to see if there’s a deal available. Additionally, banks and financial institutions often offer special accounts tailored to students, providing perks like lower fees or interest free overdrafts. Take advantage of these benefits to save even more.
4. Use public transportation or bike
Transportation is a big cost for many students, though there are ways to enjoy low-budget options. One of the cheapest modes of transportation is public transportation; many cities provide student with cheaper transit passes. Check with your local transport authority or university to find out how to access these discounts.
Cycling is another great way to save money while keeping fit. If you live near campus, cycling can be as fast, green, and free alternative to driving or using public transportation. Most universities offer bike-sharing programs, or subsidized prices for buying bicycles. Walking is also an option, free, keeps you healthy while you explore your surroundings.
5. Find affordable entertainment
Student life is all about having fun, and you don’t need to spend a fortune to enjoy yourself. Often, universities usually organize events with free or cheap entrance fees like movie nights, concerts and workshops; keep an eye on your campus events calendar to take advantage of these opportunities.
For regular entertainment, use streaming services that have student discounts. Most of these platforms, like Netflix, Hulu and Disney+, have plans for students that are cheaper, enabling you to enjoy movies and TV series at an affordable price. Or even better, organise a game or movie night with friends at home, that is way cheaper and equally fun as going out.
Do not forget to explore your city either. Many museums, parks and other cultural attractions in your hometown offer free or reduced admission to students. Also, many student clubs and societies run discounted trips and activities in which you can socialise and try new things on a budget.
Bonus tip: Track your expenses
While these hacks can help you save money, you also need to be aware of your expenditure. You can use tracking apps like YNAB, Notion or even an Excel spreadsheet. By seeing where you are spending money, you can identify areas where you are overspending and cut down on those. Being more conscious about your spending behaviour will not only help you to save money but also train you with the skills of better financial management in life.
Conclusion
Saving money as a student doesn’t mean sacrificing fun or missing out on opportunities. By implementing these simple hacks, you can enjoy your student life to the fullest while staying within your budget. Remember, it’s all about being resourceful, proactive, and mindful of your spending. Start applying these tips today and watch your savings grow!
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