Top 5 Practical Budgeting Tips for University Students
Finishing school brings job opportunities and gives you the chance to have a brighter future, but let’s be honest: uni life can be costly. You have to be thrifty to pay for rising tuition fees, costly textbooks, groceries, and other essentials. Otherwise, you will end up broke. The good news is that you can spend your money more wisely. Here are some student budgeting tips that will help you reduce your spending:
1. Stock up on freebies
As a university student, you may not be aware that you can get free access to libraries, gyms, student clubs, and campus entertainment. If you are unsure about the freebies that come with your tuition, check the breakdown fee and make the most of these free resources.
You also don’t have to pay heaps of money for entertainment. All you have to do is research thoroughly and explore various options near you, like outdoor theatre, live music, public parks, and more. You can also head to art galleries and museums that are free to visit. This way, you can let off some steam from the stress of uni life while saving more money in the long run.
2. Take advantage of free food on your birthday
Planning a food budget can be overwhelming, especially during your birthday. Fortunately, you can still make your special day a total food fest while living on the cheap by looking for restaurants that provide free treats to birthday celebrants. You can take advantage of discounts on selected dishes or, if you’re lucky, even get a free birthday cake. To look for the best birthday deals, scour independent venues and eateries.
3. Collect and use coupons
If you cannot get your hands on freebies, don’t worry. Student discounts are available everywhere and come in different forms. For instance, you can get discounted tickets at selected entertainment venues like cinemas during off-peak hours.
You can also get a discount at some stores if you present your student ID at checkout. However, take note that not all deals are advertised clearly. You may have to ask store personnel if they offer goodies exclusively for students.
4. Avoid paying full price as much as possible
University reading materials are notoriously expensive. You can reserve them at the university library early to avoid having to buy them at all. On the other hand, if the textbooks are required for your course, avoid paying full price for them as much as possible. Instead, explore Amazon Marketplace or eBay to get access to these books for less. You can also head to second-hand bookshops near your campus to get the reading materials you need for a fraction of the original price.
5. Budget wisely
Budgeting may seem like a no brainer, but it’s worth reminding yourself that it’s easy to overspend and get into financial difficulty. To avoid this, keep track of the money you earn and spendings every month. You can download student budgeting apps or list the figures down on a budgeting journal.
Keeping your spendings to a minimum as a university student might be challenging, but there are easy ways to save money. You can start by following the practical budgeting tips listed above. You are doing yourself a favour, and your future self will thank you when you learn how to manage your finances properly.
If you’re looking for more money-saving tips, then you’ve come to the right place. At Frugal A Lot, we can provide you with the best ways to save and even make money. Read our other articles and life hacks today!