Student life – 4 financial tips
As a student the income is not at its peak, and it can be difficult for some to make it through the end of the month. A part time job can of course be beneficial, but there are some tips and tricks that can help you spread out the costs and save some of the unnecessary expenses. First of all it is important to remember that you will not live as a student forever and what you are struggling with now will not last forever. Below you can take part of some of our financial tips for you as a student and how you can ensure to balance the costs of food and rent together with your social life.
Create a budget
By creating a budget you will get an overview of all your expenses and costs for rent, food, bills and more. There are plenty of great apps you can use to track where you spend your money. Once you have set up your budget you can create a general overview of how much you can spend for the coming month. Maybe it’s someone’s birthday? Or maybe it’s your turn to invite the friends over for dinner?
Cut out the small treats
Buying a coffee or a snack in school may not seem like a big expense. But think about it, if you do it every day for a month you have spent a lot on things that you could have brought from home. Make sure to think smart and plan your days according to your budget. Don’t spend money on unnecessary things and you will see that you can afford that birthday gift at the end of the month instead.
Don’t always buy new
Shopping second hand is not only good for your economy, but also for the climate. Whether it’s new clothes, furniture or school books it is smart to consider buying it second hand. There are lots of students who are in the same shoes. Check with other students to buy books from them, or why not change some of your clothes with a friend for a month?
Keep track of student discounts
Today there are endless student discounts, and yet we are so many that forget that they exist. Whether it is in a physical store or if you shop online, I can guarantee that there is a discount to pick up. Do you not see it? Dare to ask! There are several apps that keep track of all the student discounts and offers for you. There are often discounts on things and places you don’t consider such as restaurants, cinemas or even travel expenses that are discounted at really good prices. Make sure you keep track of your benefits and enjoy being a student
With that being said, there are plenty of little tricks in your everyday life that will help you save some extra money. Plan in advance of what you are going to eat, when you are going shipping and what you will need the coming month. Maybe you and your friends can decide on a “no spend day” each week where you are not allowed to spend anything? Do a movie night at home and cook together instead of going out. With regards to the situation in the world right now, you are not only doing yourself a favor by thinking a bit more economically!