Saturday, June 22, 2024

3 Tips for Surviving on a Tight Student Budget 2021

Rate this post

People usually believe that college life is the most careless period. However, it’s not exactly true. Students face lots of challenges, and financial difficulties are among them. Necessary expenses such as rent and college tuition take up most of the budgets. 

Of course, some students can rely on the financial support of their parents. But sooner or later there comes the time to become independent and plan a budget on one’s own. 

To avoid parting with your last money in a rush or getting into debt, it’s important to change some of your habits. There are different ways to save money and this article highlights three working tips on this matter.

Analyze Your Budget

Planning is key to success in almost any situation, especially when it comes to expenses. First, add all your sources of income (your scholarship or financial help from your parents). Then calculate how much money you need to spend on rent, bills, groceries, bus passes, etc. 

Make two lists. The first should include everything important and necessary. The second one will be for things you want to buy that aren’t essential.

If your expenses exceed your income, determine which purchases you can postpone. You should also consider ways to increase your revenue.

Think of selling the stuff that you won’t use anymore, for example, old textbooks, lecture notes, or clothes. Don’t throw away anything that you no longer need. These things can be useful to someone – and you’ll get a chance to earn some money. 

To have extra income, you may also try tutoring. No doubt, there are some subjects that you are good at. So, use your knowledge to help other students. There’s definitely someone who can improve their GPA thanks to your guidance and tips.

However, we can’t be proficient at everything. At times we all can use some help from professionals. Students turn to writers from essay writers on when they have difficulties with papers or assignments. A team of skilled specialists can help you with anything, whether it’s a research paper or book review.

Modify Your Food Habits

No doubt, we spend a huge part of our budget on food. Let’s be honest. It’s hard to imagine a day at college without eating in the nearest café or drinking a cappuccino in the morning. 

The cost of food in cafeі is much higher than cooking at home, so it’s a great chance to save money. Many simple recipes don’t require unique ingredients:

  • pancakes, scrambled eggs, or porridge are perfect for breakfast;
  • cook tomato soup, fried chicken, or salads for lunch;
  • vegetables, roast chicken, or beef would be a great choice for dinner.

It is recommended to buy groceries in hypermarkets as prices are lower there. You can also buy food with your roommates and cook together – this will save you money. Don’t forget to collect coupons, discounts, or loyalty cards – many supermarket chains provide them.


Avoid Unnecessary Expenses

In fact, you can save almost anything. So start turning off your appliances more often. Before leaving the house, walk through all the rooms and unplug your devices (coffee maker, toaster, phone charger). 

Don’t withdraw money from ATMs that charge a commission. ATMs of foreign banks almost always charge a fee – pay attention to it. 

Consider giving up your gym membership if you have one. Of course, sports and any physical activity are of great value. But there are lots of ways to exercise without spending money on it. 

You can try jogging or visit a free yoga class in the nearest park. Some students exercise at home using video tutorials on tai chi, pilates, or full-body workouts on Youtube.

Many students consider PE lessons at college as an unnecessary obligation. But these classes are completely free! Lots of universities have gyms that are equipped really well. Moreover, sometimes there is a variety of training programs ranging from swimming and athletics.

As for mobile communication, find out which tariff plan is the cheapest. Make sure it doesn’t include services that you don’t need. Also, you should avoid impulse buying. Of course, shopping easily reduces stress and improves your mood. But if such purchases are a part of your daily life – you won’t be able to save any money. 

Before you buy something, analyze whether you really need this particular thing. Think of how many hours or days you will have to work to pay for it.

Leave a Response