Being a student is much more expensive than it should be. Your studies mean that you can not work full time, but they cost thousands of dollars a year – thanks to books, tuition and more! This makes it difficult to manage money, let alone save money as a student. The good news is that there are some simple ways to save money that you can use if you are a student – or not – to help you spend less, save more and at the same time create the perfect student life you so desire.
Make A Budget
This covers all sorts of conventional wisdom: Do not shop when you are hungry, manage your loans and reduce unnecessary expenses. Instead of mentioning tips that you can think of, we suggest just starting a budget. He manages everything that is measured. Keeping track of what comes in and out of your bank account will make you focus on the cost of your purchases and you will automatically start saving money.
Fortunately, technology has made budgeting less than a job. We no longer spend endless hours at the kitchen table filling out spreadsheets. Modern budget applications are linked to your bank account and automatically track your spending. You just have to check the numbers occasionally and adjust the categories.
Cut Off Unnecessary Subscriptions
This should be a very important focus when making your budget. The only thing more expensive than a purchase is a subscription. With regular checks of your subscriptions, you will cut off regular payments you do not use before they cost too much. You could also consider freebies or cheaper alternatives. Instead of going to the gym, you might be able to ride a bike or join a sports team. You also need to identify the subscriptions that will help you save money.
Get Rid Of Debts
What you don’t learn in school is about debts and about getting back to a happy financial state. Debt to Success System reviews straw man v. human scam is a good read and can be beneficial when you can take back control of your assets.
Do Not Buy A Car
The car is one of the most expensive things you can get and not having it is a crazy good way to save money as a student. In addition to the initial cost, there is also the cost of insurance, parking, maintenance and fuel – which are growing rapidly! Using cheaper transportation options can save you a lot and is also a good way to include exercise in your daily routine. For example, cycling or skateboarding is free once you have the equipment and walking is completely free! When you need to take a longer trip, public transportation is the next best option, especially at a student cost. For the times you need a car you can rent one, or even ask a friend if he can get you where you need it. If you add these costs to your budget, you will often find that they cost much less than having a car. It’s time to take control back.
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I so agree! I did four years of uni and never needed to dip into my overdraft which I’m so thankful for! My dad is a debt and money management coach so he taught me to budget well with a course he wrote for uni students which was super helpful!