21 Tips for Students: How to Save Money Fast
The University of British Columbia in Vancouver, Canada has compiled a list of tips and advice on how to save money as a student in Vancouver. How useful it is for a student in Moscow is an interesting question. It turns out that changing your approach to spending and properly managing your budget can save you money.
A list of recommendations for students:
- MAKE A HOUSEHOLD
Make a table and compare your income and expenses for the next year. Make sure you save money every month.
When you run into a deficit (expenses exceed income) then you need to think about ways to lower your expenses or increase your monthly income.
UBC’s financial planning page has helpful budgeting resources, including a budgeting basics worksheet and budget planner. There is also a handy online cost calculator that you can check out.
- Track your expenses.
Write down every purchase you make. Just keeping track of what you are spending can help you spot patterns, better understand where your money is going, and see if you need to make changes.
- DIFFERENCE BETWEEN “NEED” AND “WANT”.
It seems simple, but you’ll be surprised at how well you can streamline certain spending decisions. Saving money by only buying what you need gives you more flexibility in your budget in the long run.
- Stick to your budget.
Creating a budget is the easy part. Next, you need to put it into action. But remember: a budget is not a permanent thing. On the contrary, it should be dynamic. So update when things change.
- LOOK FOR SOURCES OF MONEY!
While we all know money doesn’t grow on trees, there are a surprising number of places you can get it for free. Apply for scholarships, competitions, grants, or find a job. You could write my essay service and save a little more time doing it.
- PAY YOUR CLASSROOM CORRECTLY.
Do not pay tuition or credit card rentals as a 1.75% fee will be added to the total. For tuition fees of $ 3,000, that’s an additional $ 30.
Use another payment method, e.g. B. a bank transfer or a check.
- Don’t waste money on meals.
If you live in your apartment, you can eat in dining rooms with a 25% student discount. You can also get a 5% discount when you use “Food Dollars” (a credit account that is paid for in all of the university’s cafes and dining rooms).
- SAVE MONEY ON TEXT BOOKS
Buy used textbooks from other students. The university’s bookstores even offer a loan program for some books. Also, check out Amazon for some great deals.
- SELL YOUR TEXT BOOKS
When you finish your textbook course, sell it back to the UBC bookstore or try to find a new student who needs it.
- READ HOUSES.
Aside from rent, the largest monthly expense will most likely include groceries. Eating out is the easiest option, but it is also the most expensive. Taking a do-it-yourself approach to food consumption is a smart way to save money and improve your cooking skills.
Limiting the number of meals you can eat each month can save you a lot of money. Cook at home, wrap groceries in takeaway containers and microwave them in one of the grocery stores (on campus).
- BULK SHOPPING.
When you shop wholesale, you get the most out of every purchase. Do grocery stores with friends and buy family packages.
- Plan your meals.
When planning your meals for the week ahead, you will know exactly what ingredients to buy. Create a shopping list and shop strategically. Buy only what you need.
- MAKE YOUR OWN COFFEE.
Buying $ 3 per cup of coffee per day will cost $ 600 during the school year.
Instead, buy coffee beans in bulk and make your own. Buy a mug and take it to campus to warm up your coffee.
- COUPONS, COUPONS, COUPONS
Get as many coupons as you can and use them to cut your grocery bill.
- PULSE BUYING RESISTED
This deserves repetition: distinguish between what you need and what you want. When looking to spend money on a “need”, first check your budget and see if you can afford it.
Don’t make purchasing decisions on the spot without thinking about the consequences.
- SHOP AT DISCOUNT STORES.
The dollar store fixed price chain is a student’s first destination with housewares, school supplies, and more. The thrift stores are great for used clothing.
- BUY GENERIC, AVOID NAME BRANDS
That speaks for itself. Whether it is groceries, medicines, toiletries, or housewares, choose the cheaper generic option instead of the top brands. A generic is a product that has no brand name, is not advertised, has cheap packaging, and is sold at prices lower than a similar product from a well-known company.
- Ask about student discounts
Although many stores offer student discounts, these offers are not always advertised. Don’t be afraid to ask a shop clerk. Have your student ID ready. Ask and (sometimes) get a discount.
- CHOOSE SOCIAL (free) ACTIVITIES
Go for a hike, bike ride, sightseeing, or go for a walk in the park. A list of 25 free things to do in Vancouver.
- USE YOUR CAMPUS ATTRACTIONS
As a student, you can get free access or significant discounts when visiting a range of facilities including various centers, museums, galleries, etc.
- TO JOIN A CLUB
University clubs are amazing ways to get involved and meet other students.
Don’t be afraid to ask for help.
Often times, students avoid reaching out to people who can help them before it’s too late and they already have financial problems. Avoid it. If you don’t have enough money, ask those around you for help, let your family know. Ask your parents or grandparents to send you money or take out a loan.