6 Ways to Save Money as a Student

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Whether you’re looking to boost your career prospects, gain new skills, or do something out of your comfort zone, there are all sorts of reasons why people go back into education. If you’re studying for a course, it’s important that you get your finances in order. Money can be tight as a student, so you will need to keep track of your spending to avoid getting into debt. With that in mind, here are a few tips to help you save money as a student.

Create a Budget

First and foremost, it’s wise to create a budget before you get stuck into your learning. Knowing how much you can realistically afford to spend each month will help you keep an eye on your finances and reduce the risk of you getting yourself into debt. Whether you choose to study at a brick and mortar establishment, or online, a lot of your time will be taken up by education.

While it may not be the most exciting job in the world to keep track of your finances, you don’t want to land yourself in trouble, especially if you have exams coming up. Creating a spreadsheet can be a great way to visually see how much you are spending, helping you to make minor changes which could save you some cash. There are various apps that you can download too, which can help you manage your money better.

Be Smart with Your Grocery Shopping

Understandably, food will be one of your biggest costs, so to keep your bills down at the end of the month, there are all sorts of things you can do to be savvier with your spending. When you’re next at the grocery store, try and opt for own brand products, rather than well-known ones, as you will not only be amazed at the difference in price, but the little difference in taste too. There are also certain times of the day where many items are discounted which can save you a fortune.

When it comes to cooking at home, you may benefit from planning your meals in advance. Having an idea of what you’re going to eat each day can help keep costs down. One of the most effective things you can do is to cook in bulk. The food that you have leftover can be stored in Tupperware boxes and put in the refrigerator or freezer to be used over the following days. As a student, it can be all too easy to reach for junk food to keep you going, however, aiming to eat healthier and ditching the takeaways can free up some cash that you can spend on more important things.

Study Online

With many of us having no choice but to work, the idea of attending a brick and mortar establishment for our education may be out of the window. When you factor in that there are tons of seminars and lectures that you will have to attend, getting time off work may be more difficult than you think. Instead of attending a traditional university, you may be more inclined to study online instead.

There are all sorts of benefits that come with studying online. Not only will you have more freedom and flexibility, enabling you to study at your own pace, but you won’t have to worry about the costs of transport and accommodation. Online degrees are becoming more and more recognized, meaning that you can gain valuable credentials which can take you far in the working world. For example, for those who want to go into nursing, you can study for your MSN degree online with institutions like Baylor University.

Choose Second Hand

While it would be nice to buy everything fresh and brand new, many of us don’t have the budget to splash out on the latest textbooks. Course textbooks can cost an arm and a leg if you’re not careful. If you’re studying at a traditional college or university, you will be given a list of all the reading materials you will need, so instead of worrying about buying everything new, why not opt for secondhand instead? There are various routes that you can go down, such as borrowing set textbooks from the library, or finding cheap second-hand copies on the internet or through your college or university.

Books are not the only course essential that you can save money on; if your education facility charges a ton of money for printing, you may find it more beneficial to purchase your own printer.

Don’t Overpay for Transport

Most colleges and universities are situated in easy to reach locations, such as in towns and cities, meaning there are tons of excellent public transport links that you can use. Many institutions have everything on campus, meaning you will have everything on your doorstep should you decide to live in student accommodation. It’s likely that you won’t need a car while being a student, which can save you tons of cash.

If you do need to take a bus or train to get from A to B each day, it’s important that you’re not spending over the odds on your transport. If you are in college or university every day, the cost of transport can soon add up and eat into your budget, so make sure that you do your research into the cheapest fares and any special deals that you can take advantage of.

Speak to Your Friends and Family

If you are worried about the financial cost of going back into education, it’s important that you have people there who love and support you throughout your course. Getting useful advice from your friends and family who have been in the same boat as you can help when it comes to keeping costs down and saving cash while in student mode.

Going back into education can be a daunting prospect for all sorts of reasons. If you’re worried about how you will financially support yourself throughout your education, there are lots of tips that you can take on board which will help you keep track of your spending and avoid you getting into debt.

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