Being a student is not cheap. Between textbooks, tuition, and other expenses, it can be difficult to manage your finances, let alone save any money.
But fear not! There are several simple ways that students can cut costs and save money without sacrificing their quality of life.
In this article, we’ll outline 8 strategies for saving money as a student, as well as provide links to useful apps and websites that can help you stay on track.
So if you’re looking to stretch your budget a little further, today we’re covering how to save money as a student in 2022. Read on for some helpful tips and resources!
Table of Contents
Have a Set Budget
As a student, it’s important to stay on top of your finances and create a budget to help you manage your money and save more.
There are many budgeting apps available that can make this process easier, such as PocketBook and MoneyBrilliant.
These apps link to your bank account and automatically track your spending, allowing you to review your numbers and adjust your categories as needed. If you prefer a more traditional approach, there are also apps like You Need A Budget that mimic traditional budgeting tools.
Regardless of which app you choose, creating a budget is a crucial step towards saving money as a student.
If you’re a student, you’re probably well aware of the ridiculous expenses that come with your studies. From tuition to textbooks, the costs add up quickly.
But fear not, there are ways to save money as a student! One simple way is to look for used or secondhand items instead of buying everything new.
Textbooks, in particular, can be a huge drain on your wallet. Instead of splurging on brand new copies, try scouring sites like StudentVIP, Sell My Textbook, and even Ebay for used options.
You can often save 50-80% on these gently used materials, and when you’re finished with them, you can sell them back for close to what you paid.
This can be a great way to save some cash and minimize your spending as a student.
You Don’t Need a Car
With the high costs of education, it’s no surprise that many students are looking for ways to save money and stretch their budgets as far as possible.
Owning a car can be one of the most expensive expenses for a student, with upfront costs, insurance, maintenance, fuel, and parking adding up quickly.
In fact, even small cars can cost over $7,000 per year to own! Instead of owning a car, consider alternative modes of transportation such as walking, cycling, or using public transportation.
Car-sharing services like GoGet and ride-share services like Uber and Taxify can also be great options for students, especially when they need to make a one-way trip.
By opting for these cheaper transport options, you can save hundreds or even thousands of dollars per year while still getting around town.
Meal Prepping is Your Best Friend
Sick of eating the same old thing every day? Tired of spending a fortune on mediocre meals from the campus cafe? It’s time to take control of your lunch game and start packing your own meals! By meal prepping and freezing in bulk, you’ll save tons of money and have healthier options on hand whenever hunger strikes.
Plus, with a kitchenette and microwave at your disposal, it’s easy to heat up and enjoy your homemade meals at school.
Don’t know where to start? No problem! We’ve scoured the internet for the best recipes that freeze well for you: 19 options from Delicious, 27 from Buzzfeed, and an endless supply from the BBC.
You’ll be a meal prep pro in no time, and your wallet (and waistline) will thank you.
Don’t Miss Out On Those Discounts
Students, listen up! There’s no need to break the bank just because you’re furthering your education.
In fact, there are tons of ways you can save money as a student if you know where to look.
From discounts on travel, movies, food, software, and retail, you can stretch your budget further without sacrificing the things you love.
So, next time you need to make a purchase, take a few minutes to do some digging. Start by googling the product name and ‘students’ – you might be surprised at what you find.
And don’t forget to check out sites like UNiDAYS, which collect offers from multiple companies in one convenient place.
Trust us, a little bit of effort goes a long way when it comes to saving money as a student. So don’t be afraid to hunt for those discounts and stretch your budget further!
Don’t Get a Pet
As much as it may break your heart, it’s important to consider the financial implications of owning a pet while you’re a student.
While they may bring joy and companionship, they also come with a hefty price tag.
On average, pets cost over $1,000 per year to care for, and that’s not including unexpected costs that may arise.
Additionally, looking after a pet can take up a significant amount of time, which could be better spent studying or working.
Consider the freedom and flexibility that comes with being pet-free, as students often travel, go out, and move around more frequently than the general population.
While it may be tough to say goodbye to the idea of having a furry friend, it may be the wisest financial decision for your current situation as a student.
Not All Of Your Subscriptions Are Necessary
Who doesn’t love a good subscription service? Netflix, Spotify, Amazon Prime – they make our lives easier and more convenient.
But let’s be real, they can also drain our bank accounts if we’re not careful.
As a student, it’s especially important to keep track of these recurring expenses and make sure we’re getting our money’s worth.
Don’t just blindly renew that gym membership or phone contract – take a moment to assess whether you’re actually using it and if there are any cheaper alternatives available.
And on the flip side, don’t be afraid to invest in a subscription that saves you money in the long run, like Netflix keeping you from shelling out for movie tickets every week.
The key is to be proactive and stay on top of your subscriptions to make sure they’re working for you, not the other way around.
Be Smart With Picking Housing
One way to save money as a student is to be strategic with your housing.
Renting a house or apartment with roommates can be a great way to split costs, but living on campus can save you a lot of money on rent and utilities.
If you live on campus, you’ll also be closer to your classes and have access to campus resources like the library and gym.
However, if you do decide to live off campus, try to find a place with all-inclusive rent to save on utility costs.
And make sure to negotiate with your landlord for a lower rent – it never hurts to ask! Just be sure to have a backup plan in case they say no.
And if you really want to save some cash, you could always try living at home with your parents. It’s not for everyone, but it can be a great way to save money while you’re in school.
Just make sure to set some boundaries and establish your independence to avoid any family drama.
Final Thoughts
In conclusion, being a student is expensive, but there are ways to save money and still have a great time.
By budgeting, buying used books and secondhand items, choosing cheaper forms of transportation, cooking your own meals, utilizing student discounts, cancelling unnecessary subscriptions, and finding free or low-cost ways to socialize, you can make your money stretch further and still enjoy all the perks of being a student.
Just remember, what gets measured gets managed, so make sure to keep track of your expenses and find creative ways to save.
Ok, that’s it for today, we hope you like the information in this post. As you know at Tips for students we always provide the best tips and resources to you.
See you in the next article!
