3 Money-saving Hacks for Students
Being a student already means that you are paying a substantial amount to your college. Some of you might be getting help from your parents to pay for your college, but then some students are paying their college fees on student loans. For students who are already under the pressure of paying off the bank right after college, it is crucial to be saving money for your future. College is the time of the youth and many of us have spent the days in quite bright lights. Being able to have control over your expenses makes you free but then the freedom knocks you down when for the first two weeks you went out to dinner with your friends, had fun at the bar and bought another set of clothes. But then you run out of cash and you now have to be on meager meals that don’t even provide you the nutrition you need for life in college. Frequently running out of money every month can get you into trouble once the habit sets in. Students being paid for or studying on loans, both need to be saving money for future use in study travels or the just in case emergencies, where you don’t want your parents to know although they will help out. So what are the things you can change to make sure you save enough to get you through life after college?
1. Cutting Out Pointless Expenses
Spending money on something when you can do without is foolish. So is not looking for alternatives to a commodity or even the food that you eat. The first thing that you must do to save more money is to stop eating out and avoid it at all costs unless it’s your birthday or a group celebration. High-end restaurants and eateries charge extra for their services and the food is not even enough to keep you going for long hours. So you must begin cooking at home. If you’re not a good kitchen person, you might already be eating out on a budget. In that case, fast food might be your savior. Fast food will give you more calories than common food and is cheaper but remember not to eat that very often.
Cutting down on your utility bills can be another way of saving cash that goes out unnecessarily. Try being a conservationist for once and switch off the lights when you don’t need them. Your laptop screen can illuminate your room enough. Plug out any electronics that you’re not using and turn off the switches before leaving your home.
You are a student, so don’t ever buy software unless it is mandatory according to your college’s curriculum. Some software that you would want during your time at college, incur a lot of money and might turn up with new updates to buy. Try finding alternatives on freeware websites that provide the free version of that software. Some of the software that you can’t get for free can be replaced with free alternatives. Open Office, for example, is a freeware from Microsoft that doesn’t require paid registrations. It also has a web version for free use.
Cable and gym memberships are another instance where you can cut down your expenses. Since you’re a student, you should get rid of cable connection and get to the internet you have for entertainment or just turn to reading for free at the library. Being in shape is important during college but gym membership can be canceled. You can use different workout techniques at home with friends for upside on the enthusiasm.
2. Changing the Lifestyle
Changing the course of your finances will require a change in the life you lead. Daily life choices affect the expenditures and you won’t be able to let go of some habits once they have stayed for all your time at college. Transitioning into a new living routine will help you cross some more expenses from your budget.
The first thing that most students are habituated to is impulse buying. Impulse buying is the most notorious cause of your funds running out on you. This calls for making yourself tough about your choices and decisions. Thinking wisely, you must avoid buying anything and everything that catches your eye. If the habit is deep-rooted, avoid stepping inside malls and market avenues with a lot of bling hanging in front of your eyes. Every time you see something you think is worth buying, try recalling all the other expenses you’ll have to incur in the future and if you have some other important thing you must pay for.
Cook your food at home. Not all can do it properly but you can learn eventually once you step into the kitchen with tutorial videos on your phone. Cooking at home will save you money that can afford at least 5 meals at a high-end restaurant. Plus you save on other petty expenses when you go out in public.
If you’re into alcoholic beverages, it is easy to assume that you might be going out with friends every weekend to get the stress out of your life. But going out to bars and pubs gets much more costly once you start drinking their overpriced drinks. Avoid the club life and start drinking at home if you need the spirit. Over-the-counter drinks have better quantity and are healthier for your pocket. Rather you quit on alcohol and detox yourself to get a healthier and budgeted lifestyle.
3. Spending Smartly
Not only you must spend less, but you should also be smart when it comes to the necessary expenditure. While buying textbooks, for example, you can save a significant amount while buying books online than from college supplies. Buying books through online merchants gets you discounts and coupons that help you save money from your education budget and put it to use on other needs.
Buying groceries in bulk is another way you can save money while shopping. Bulk buy shops can be found conveniently where you get amazing offers and discounts on bulk purchase of groceries. When buying things with a longer shelf life, always choose to buy online as products like pasta, jams, and canned food can be bought in bulk for better prices online.
Being a student, you should always be on the lookout for opportunities for saving money. Taking inspiration from adults and elders can be beneficial in changing the habits of expenditure and make a better manager out of you.
No.1 Legal Money Lender in City Hall – KBB Credit SD Pte Ltd
We are named as a best-licensed moneylender in Singapore, this is because we providing the best cash solutions for the borrower needs it. Lately, we offering the installment plan loan. Interested to find out more? Visit our office at 111 North Bridge Road #01-35 Peninsula Plaza Singapore 179098. We are open everyday at 11 mornings. For weekdays we close at 9 pm and at weekends we close at 6 pm.
Alternatively, you can give us a call at +65 6255 6998 for any questions that you may have. Our loan officer will be able to provide you with the answers.