It’s officially back to school season and bright-eyed students are heading to university to learn, expand their minds and grow. However, university or college can be very expensive and students are always looking for ways to save money.
When I was a student, I was always asking myself the question: “How can a student save money?” in the quest to find answers, I was able to come up with some ideas that helped me to stay on track with my finances in university.
Here are the top 10 ways to save money as a university student. These are tried and true tips that are legal and some of them are fun too.
Always ask for Student Discounts at All Retailers
As a student, you will want to go shopping for so many things during the course of your educational life. Well, the good news is that lots of retailers and other places of business offer student discounts ranging from 10% to 20% off.
Always walk with your student ID and when you are shopping, simply ask if there’s a student discount and present said ID. There are also websites that provide a one stop shop for all students discounts.
You can check out Unidays and Student Beans and get those discounts today!
Make a Budget And Stick To It
When you are a student, you must manage your money wisely. In fact, student life is not the time to splurge and get into debt, even if you feel pressure to spend money and follow your friends.
Instead, spend some time going over your finances. If you have a part-time job, write down your income or if you get an allowance from your parents, make note of that too.
Look at your total expenses – from food, to care products, course fees, books and other essentials – ensure that you know where your money is going.
Next – allocate funds toward each expense and also allocate funds for entertainment as well as this is one essential part of college that you will want to be a part of.
If you are good with your money, you can even enjoy college life without feeling guilty!
If you would like to learn about how to set up a budget, you can check out this budget blog post.
Get a Part-time Job
College can get expensive very quickly and the costs can become overwhelming.
One of the ways to save money as a university student is to get a job that can help you to bring in extra income.
There are lots of opportunities available – you can start with on-campus job opportunities and then look at retail jobs and other jobs that offer flexible hours.
The only piece here is to ensure that you are very efficient with your time so that you can stay on top of school while making some money.
Shop at Thrift Stores and Shop Store Sales, Clearance Racks
Shopping comes back on this list because college is expensive! You will need clothes, shoes, and other necessities as you go through school and you want to be prepared.
There’s a way in which you can save money as a university student while shopping for clothes. It takes some time and effort but can help you to save fast and becomes a habit.
If you are looking for savings, you should consider shopping at thrift stores and checking out the clearance and discount racks at your favourite clothing stores.
Buying second-hand has become a fashionable trend and if you search intently, you can actually find brand new items at heavily discounted prices.
My personal favourite thrift stores are Value Village, Goodwill, Thredup and Talize.
Participate in Focus Groups and Research Studies on Campus
One of my favourite ways to save money when I was a college student was by signing up for research studies on campus.
I would make some decent income from studies starting at $20 per session to up to $150! Just look up research studies at your university and join their mailing list.
You can also sign up for focus groups and mystery shopping opportunities – these are fun and you can make some really good money.
I have gotten lots of mystery shopping opportunities from A Closer Look, you can check them out as well if you’d like.
Sign Up for Free Programs at the Local and Campus Libraries
If you want to save money as a university student, you should try to find free opportunities on campus.
You can sign up for networking programs at the library that will help you to meet new people which can lead to great relationships that you can leverage both on-campus and post-university.
Also, stay close to your career centres and get to know the career coaches as they can help you to find part-time jobs and help you to review your resume and prepare for interviews. These services are free and can make a big difference.
Start a Side Hustle
This is one of my favourite ways to save money as a college student, largely because it can open up a world of opportunities.
College is a time when you are learning and growing, it could also be the time when you can start a side hustle that can bring in extra cash.
Some side hustle ideas include starting a blog, becoming an influencer on Tik Tok or Instagram, and getting paid for your skills on sites like Upwork and Task Rabbit.
If you are really good at a specific skill, you can also start a consulting or coaching business and offer your services at a cost. For example, if you are good at managing social media – you can become a social media consultant for small businesses.
Remember that side hustles can lead to bigger things, Facebook started as a side hustle. Imagine the possibilities.
Make a Meal Plan and Use Grocery Store Flyers
Meal plans help you to save money and when used with flyers while grocery shopping, they can revolutionize how you shop.
Spend some time thinking about your menu and then make a plan of what you will eat for the week. Once you know what you will be eating – you can shop for those specific items at the grocery store and use the store flyers to search for that weekly deal.
I highly recommend Flipp for searching for weekly flyer deals.
Apply for Scholarships and Bursaries
One of the best ways to save money while in college is to always look for ways to save on tuition.
Visit your university’s Student Finance Office and ask about any bursaries and scholarships available. Apply to every scholarship and put forward a top-notch application so you can get a callback.
Also, focus on getting good grades so you can have a good chance of getting these scholarships and bursaries.
Scholarships can be life-changing and will help to offset one of the biggest costs of getting a college education so try to make the effort. You may end up getting one!
Buy Used Textbooks
The cost of books can add up each year and over time, it can become a stressful part of your college education.
You can find used textbooks at your campus bookstore, Amazon and other booksellers.
Conclusion
I hope you are able to use some or all of these ideas to save money as a university student to get your finances on track.
College can be fun and expensive but with these tactics, you are set up for success to make it the best experience.
If you are in college, what are some ways are you looking to save money this academic year?
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