25 Money Saving Tips for Students

There’s no getting around the fact that paying for university is more expensive than ever.  If you aren’t aware of where your finances are at, it can cost you thousands of wasted bucks over the course of a year that could be funding your future instead.

From pennies to thousands of dollars, these money saving tips can help anyone save.  Every bit helps to pave the road to your education.

  1. Begin with a general or detailed budget of where your money goes. Track monthly living expenses, like rent, utilities, and grocery bills for one month.  Add transportation and household costs.  You’ll soon see where you overspend, like on beauty products you only use twice, and be more conscious going forward about whether something is a necessity or an impulse buy.
  2. Limit how much you eat out, coffee included, and make your own delicious and nutritious meals and lattes at home.
  3. Drop frivolous bad habits, such as smoking and beer drinking.
  4. Possibly one of the most important savings tips you can adhere to for your entire life is to pay off credit card and other bills in full and on time. Carrying a balance on credit cards and constantly paying late fees on overdue bills adds up to hundreds of thousands of lost dollars over a life time.
  5. Only buy minimum cable packages and avoid purchasing unnecessary extras you’ll rarely use, that don’t add to your quality of life anyway.
  6. Enjoy all the free books available in your local library instead of spending hundreds in stores and online.
  7. Avoid purchasing unnecessary school supplies when you can take notes on your electronic devices or record lectures.
  8. Instead of going on expensive vacations, look into exploring cool art galleries, museums, and mountain trails right in your own backyard.
  9. Drink more water out of your tap and take water and coffee from home in a reusable travel mug.
  10. Why buy music when it’s available for free all over the internet?
  11. Take advantage of student discounts whenever possible—it’s worth asking everywhere you shop.
  12. When you’re making a major purchase, such as a new lap top, it pays to research the best price and saving yourself hundreds of dollars in the process.
  13. If you find you’re susceptible to impulse purchases, develop a new habit of “sleeping on it” before you buy.
  14. Familiarize yourself with local thrift shops and consignment stores, just like Macklemore, for new clothes. Not only will you discover cool new threads not available in mass produced stores, you will save hundreds of dollars and be able to afford more items for your seasonal wardrobe.  Next, you can resell old clothes in consignment stores and receive money back.  Win!
  15. Check out online coupon sites with excellent discounts on everything from grocery items to sporting goods; never pay full retail again.
  16. Start sharing and swapping text books at a fraction of the cost of buying brand new.
  17. If you become a public transportation expert, you will save thousands of dollars on vehicle and insurance expenses in no time at all.
  18. Be creative in how you spend money. Can you make a huge pan of lasagna and freeze half for future meals? Can you grow a fresh lettuce garden on your balcony for never-ending free greens? Then do it!
  19. Start buying no-name brand canned goods.  When you compare the ingredients and they’re the same as the more expensive brand names, it’s a no-brainer.
  20. Take advantage of staff discounts where you work.
  21. Enjoy free concerts and outdoor pursuits instead of purchasing over-priced memberships.
  22. Get into the habit of car-pooling with like-minded thrifty friends.
  23. Shop around for the bank that actually pays you interest instead of charging you astronomical fees and compare student bank accounts that offer more for less.
  24. Take the time to see if you qualify for scholarships or bursaries from your school. You may discover a nice chunk of change just waiting to help pay for your studies.
  25. Resist taking out a loan on anything other than your education. Note—vehicles are the worst possible investments you’ll ever make.

Now you can focus on learning and getting the most out of your education instead of worrying about dollars and cents.