It is common to neglect saving money as a student, but this should not be the case. Many students may not know it, but money management is critical during your years of post-secondary study.
You will be better off if
you start saving money while you are younger. Keep in mind, however, that it is
never too late to begin living a more frugal lifestyle. Here is how college
students can save money.
1.
Don't waste money on things you don't need.
Avoid going on walks
around retail centres since temptation lurks everywhere. If you do go to the
mall, it's conceivable that you'll buy sale products simply on the basis of
price rather than necessity.
Here are some suggestions
for simplifying your life and avoiding excess.
Keep in mind that living
on a student loan means living on borrowed money. That indicates you're in
debt; don't add to your debt by overspending.
Avoid using credit cards
and instead, rely on cash and debit. This keeps you conscious of your spending
patterns and guarantees that you do not spend more money than you have.
3.
Stay at home with your parents
While living on campus/in
residence for your first year may be your first option, you should seriously
consider staying at home (if your school is within a reasonable distance for
driving or transiting). Of course, this will significantly reduce your living
expenditures.
4.
Split the rent with roommates
If living with your
parents isn't an option, seek for roommates. Try not to live alone since
apartments may be expensive, and roommates can significantly assist with
cost-of-living splits.
5.
Take use of public transportation
Instead of driving oneself
to school, consider taking public transportation.
When you compare the cost
of vehicle maintenance, petrol, insurance, and perhaps toll roads to the cost
of public transportation, you'll likely discover that you may save a
significant amount of money. Taking the rail or metro will also allow you to
avoid traffic congestion.
Your school is a wonderful
location to start looking for a career. Students can choose from a variety of
positions available at their institutions. Even better if you can get a
position inside your faculty that is linked to your subject of study.
Internships can be paid or
unpaid. Unpaid work can help you get your foot in the door in the long run,
while paid jobs, of course, can help with living expenses.
During your summer
vacations, you should look for full-time work. Don't overlook the numerous
possibilities to earn money online!
7.
Save Money on Your Phone Bill
The majority of Canadians
are already aware that we overpay for our mobile carriers' services. Consider
making some painful concessions and reducing the number of features on your
phone contract.
Avoid long-term
commitments by opting for prepaid/pay-as-you-go plans, which will help you
restrict the amount of time you spend on your phone.
Your wallet will
appreciate you if you make an effort to unplug as much as possible from your
mobile. Save your chatting for a landline, your texting for a WiFi-enabled
messaging programme, and your online browsing for a PC.
Fast food's convenience is
one of the main attractions for students. Taking one day out of your hectic
schedule to go to the grocery shop can help you save a lot of money.
Grocery shopping can be
enjoyable and simple! You may even keep a running list of everything you need
to acquire using a resource like this fantastic checklist.
If you have roommates, invite
them to go shopping with you and consider dividing the cost of family-size
packs of products.
Cooking a huge dinner that
can be preserved as leftovers for meals throughout the week is a fantastic
method to save time when it comes to cooking. Do you want to learn how to cook
from scratch? Take a look at this article.
Find out how to use
coupons. You don't have to become an obsessive couponer, but if you start into
the habit now, you'll have a skill that will serve you well for the rest of
your life.
Remember that coupons and
sales go hand in hand, so use our coupon matches to get the best bargains.
Begin matching prices on
anything you buy (when possible). You should definitely take advantage of price
matching if you live near a supermarket shop that does so. You may save money
on groceries by just buying products on sale and price matching them all.
Wal-Mart, No Frills, Fresh
Co., Real Canadian Superstore, and Giant Tiger are just a handful of the grocery
retailers that provide price matching.
When it comes to
textbooks, buying second-hand will save you a significant amount of money. If
the option of using is accessible, take use of it! You may get textbooks in a
variety of locations, including your school bookstore, Kijiji, Craigslist, and
even eBay.
Thrift stores are also a
good place to look for other second-hand things. First and foremost, make sure
you understand how to buy at second-hand stores.
Avoid ordering
newspaper/magazine delivery services, as well as television, to save money. If
you have access to the internet, there are a plethora of free media options at
your disposal.
Consider splitting the
expense of a Netflix subscription with your roommates. This is a fantastic
method to avoid going to the movies.
13.
Limit the number of nights out
We all know that partying
is a big aspect of undergraduate and college life. Avoid/limit evenings out at
a pub or club if at all possible, and don't forget to look for venues that
don't require a cover/entry price.
A house party is an
alternate option. Also, remember to drink responsibly!
14.
Make use of the entertainment guide
If staying away from
events like dining out and activities is tough for you, consider purchasing an
Entertainment Coupon Book. They are well worth the money!
Student Price Cards are
fantastic since they are available solely to students of all ages and cost only
$9 per year.
They provide discounts
ranging from 10% to 15% on fashion, food, leisure, and travel. If you are
carded, make sure you have your student identification with you.
Saving money is crucial first and foremost because it protects you in the case of a financial disaster.
Furthermore, saving money may assist you in making major purchases, avoiding debt, reducing financial stress, leaving a financial legacy, and gaining a better feeling of financial independence. To be honest, there are several reasons to save money.
So, whether you're looking for some money-saving
inspiration or just want to learn more about why saving money is so essential,
you've come to the perfect place.
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