Save Money – Managing your budget while at university isn’t easy, but there are a number of ways you can keep your costs down.
After learning how to make easy money as a student during your stale on campus we need to update you on how to save the money.
Below are the Five Way of saving as a student
Keep track of your spending
It might not be the most exciting job, but keeping track of your finances is the best way to make sure you don’t overspend and land yourself in trouble.
As a starting point, you could create a spreadsheet showing your income from parents, scholarships and bursaries and any part-time job you have, and note down regular outgoings such as your rent and mobile phone contract. You’ll then be able to see exactly how much you have available to spend each month.
Sticking to your limits has never been easier.Try not to spend too much of your allawee once it comes in – as tempting as it may seem, you don’t want to be left penniless for the rest of term.
Be smart with your food shopping
Food will be one of your biggest costs, so it’s worth finding ways to reduce your bills. Buying value products rather than well-known brands are some of the simplest ways to save money.
Where it’s possible, you might look into cooking in your hostel rather than buy food outside. You’ll also be saving money by making your own packed lunches rather than buying a sandwich or going to a coffee shop every day.
Either way, you’ll be able to do a cost-effective ‘shop’ at the start of each week and avoid the need for too many expensive takeaways.
Don’t overpay for transport
Most universities are either city-based with excellent public transport links, or campus-based with everything you need on your doorstep. You probably won’t require a car while studying, which will save you a lot of cash.
More locally, buses remain one of the cheapest ways to get around town. Check whether there are any student discounts or weekly/monthly passes available for services you use regularly.
Buy course books second-hand
[bctt tweet=”Buy or rent used textbooks and sell last semester’s books back on CampusStore.com.ng” username=”theowlcampus”]
Course textbooks can be expensive, but luckily there’s no need to purchase every item on your reading lists. You can usually borrow set texts from the library whenever you need them. Only buy the most important books, and even then you’ll be able to find cheap second-hand copies online at CampusStore.com.ng. You can also Sell them on CampusStore.com.ng when you’re finished with them to recoup some of the costs.
Books aren’t the only course essential you can save on. Depending on how much your university charges for printing, it might be more cost-effective to buy your own printer.
Pay your bills on time
When you’re living in halls of residence utility bills will usually be included in your rent, making budgeting a little easier. However, if you’re sharing a student house you’ll normally be responsible for paying for your gas, electricity, water and internet.
Setting up direct debits for your regular bills, so that they are paid automatically each month, will make them easier to keep on top of, and you’ll avoid any charges for late payment. Save money
Sharing bills among housemates can be effective (one pays the electricity, another pays the gas, etc.) as long as it is managed carefully. If you pay a bill on behalf of your housemates, make sure they give you their share promptly.
Similarly, if a housemate pays a bill for you, repay them as quickly as possible. This way, you’ll avoid any unnecessary tensions developing should anybody consistently fail to pay their share.