Being a student often means living on a tight budget. Tuition, books, and other school expenses can quickly eat up your available funds. However, with some practical money-saving tips, you can stretch your dollars further and reduce your everyday spending. Embracing budget-friendly habits such as meal prepping, utilizing student discounts, opting for used textbooks, practicing energy conservation, and considering smart transportation choices are practical tips for students to save money on everyday expenses, and exploring Academized – a reliable paper writing service – can be an additional resourceful strategy for managing academic costs wisely. Learning how to find deals and make smart purchasing decisions now will help establish good financial habits that will benefit you long after graduation.
Evaluate Your Spending Habits
The first step to saving money is understanding where your money is going. Track your spending for a month by carrying a small notebook or using a spending app on your phone. Document each purchase and expense, no matter how small. This will show you where you tend to overspend so you can find ways to cut back.
Common areas of excess spending for students include:
- Dining out - Making coffee or meals at home saves substantially over buying lunch everyday or eating at restaurants.
- Impulse purchases - Small misc. items bought without planning quickly add up.
- Alcohol/cigarettes - Drinking and smoking costs pile up over time. Consider cutting back or setting a budget.
- Subscription services - Audit streaming, box delivery, and other monthly services to see if you're getting value from all of them.
Once you see your spending patterns, you can set personalized goals and budgets to rein in excess expenditures.
Take Advantage of Student Discounts
One of the best perks of student status is access to exclusive discounts. From student tickets to museum discounts to special rates on software and services, being a student unlocks savings opportunities.
Research discounts available in your college town and online. Sign up for student advantage programs, and download apps like UniDays and Student Beans to find deals. Carry your student ID and ask about student rates everywhere you go - you may be surprised at how much you can save on regular expenses with just a flash of that card.
Some common student discounts to look for:
- Movies, concerts, and events
- Museum entry fees
- Public transportation passes
- Clothing and apparel
- Laptops, tablets, and electronics
- Travel - flights, hotels, rail passes
- Shopping, dining, and entertainment
Buy Used Textbooks
Textbooks are notoriously expensive, often costing hundreds of dollars each semester. Buying used books can slash these costs dramatically.
Textbook alternatives include:
- Campus bookstore - Buy and sell used textbooks on campus. Ask classmates about upcoming books to get a head start.
- Online marketplaces - Sites like ThriftBooks, AbeBooks, and Better World Books offer discounted used textbooks.
- Student-to-student - Buy or rent books directly from other students through Facebook groups and sites like Chegg.
- Library reserves - Check with your campus library to see if you can borrow or digitally access course textbooks for free.
- Ebooks - Digital textbooks can be 50% less than print. Consider buying or renting ebook versions.
Incorporating practical strategies like budgeting for essentials, seeking student discounts, buying second-hand textbooks, practicing energy efficiency, and exploring cost-effective transportation options are invaluable tips for students to save money on everyday expenses, and when balancing academic commitments, considering reputable research paper writing services can also contribute to financial prudence. When possible, see if you can get by with older editions of textbooks, which often have minimal content differences. And be sure to resell your textbooks after each semester to get some cash back!
Cook Economical Meals
Eating out or buying lunch on-the-go is likely a major expense as a busy student. Cooking at home can drastically reduce your food costs.
Make a weekly meal plan focused on inexpensive but nutritious foods like:
- Beans, lentils, eggs, and other proteins
- Rice, potatoes, pasta, and other grains
- Frozen, canned, or in-season fresh fruits and veggies
- Staples like bread, tortillas, and yogurt
Buy store brands over name brands, purchase in bulk, and look for sales and discounts. Repurpose leftovers into new meals later in the week.
Simple, fast meals for students on a budget include:
- Omelets or breakfast burritos
- Salads with inexpensive produce like cabbage or carrots
- Baked potatoes or sweet potatoes
- Sandwiches and wraps
- Pasta with red sauce
- Stir frys over rice
- Chili, stews, or curry
With just a little planning and prep, you can eat better for less at home.
Live with Roommates
Housing is likely your largest regular expense as a student. Living with roommates allows you to split costs and save tremendously.
Having roommates can reduce your rent payment by 30% or more per person. You also split shared bills like utilities and internet.
Tips for saving with roommates:
- Fill extra bedrooms to reduce your portion of rent.
- Seek out apartments with roommate matching services.
- Split costs evenly rather than by room size.
- Discuss shared space and cleanliness expectations upfront.
- Set agreements about guests, parties, noise levels, etc.
- Communicate regularly about shared expenses.
Living alone may seem ideal, but the financial benefits of having roommates are too good to ignore. Establish ground rules upfront to avoid conflict down the road.
Use Public Transit
Driving involves gas, insurance, maintenance and parking costs. Using public transportation eliminates these expenses.
As a student, you can likely get discounted bus or metro passes. Ride share services also offer special student promotions.
Using transit options like:
- Buses
- Subways
- Trams
- Bike share programs
- Carpool services
Saves you money while reducing environmental impact. You can study or relax during the commute instead of focusing on driving.
If you do drive, economize by:
- Minimizing individual trips - plan errands together
- Carpooling with other students
- Using a gas rewards credit card
- Keeping your vehicle well-maintained
Going car-free whenever possible keeps more green in your wallet.
Take Advantage of Free Entertainment
Finding free or cheap events and activities is easy as a student. With a bit of research, you can stay busy and have fun without constantly spending money.
Entertainment options to take advantage of include:
- Campus events - concerts, movies, special speakers, fairs, etc.
- Student-run activities - plays, comedy nights, dance performances
- Local free days - museums, zoos, galleries, and more offer free admission days
- Festivals and cultural celebrations
- Parks - hiking, swimming, sports, etc.
- Library events - book readings, classes, and more
- Religious organizations - churches, temples, and more offer free events
- Volunteer opportunities - animal shelters, food banks, non-profits
Stay up to date on campus and community event calendars to maximize your access to free activities. Split costs for paid events by going with a group.
Shop Thrift and Consignment Stores
Clothing and other necessities can be found lightly used for a fraction of retail prices at secondhand stores. With some hunting, you can score excellent deals.
Great options for thrifting include:
- Garage sales
- Thrift shops - Goodwill, Salvation Army, etc.
- Consignment shops - Plato's Closet, Clothes Mentor, etc.
- Online resale - ThredUp, Poshmark, eBay, Facebook
- Furniture liquidators
- Discount grocery stores - for pantry staples
Shopping secondhand takes more effort and time than hitting the mall. But you can find amazing bargains on high-quality items. Get to know the inventory at your local thrift spots.
With creativity and smart shopping techniques, it's possible to save substantial amounts on ordinary student expenses. Track where your money goes, take advantage of student deals and discounts, buy used, get roommates, use public transit, enjoy free entertainment, and thrift shop. Putting these tips into practice will keep more cash in your wallet so you can focus on your studies, not your finances.