Being a full-time university student is hard on your wallet. Between buying food everyday to buying textbooks and paying off student fees; your bank account is probably crying. Here are my 4 tips for saving money while studying at university/college.
- Make your own food.I don’t know about you guys but I spend a lot of time at uni so the money I spend on food piles up. On average it costs about at least 7 dollars to grab something descent and not junk food. If you times that by 4 (days) that’s almost $30 per week on food alone! No wonder our bank accounts don’t seem to be growing… By making your own food we get to control the nutrients we put in our own bodies alone with saving money. Short on time? Spend some time on weekends to make meals for the weekdays.
- Buy second hand textbooks. Let’s face it, buying new textbooks can cost an arm and leg. It’s more affordable to either rent textbooks through websites such as Zookal or buy them second hand. Where do you go if you want to buy second hand textbooks? There are websites such as StudentVIP but I’m sure if you search on facebook there are groups selling textbooks for your university like ‘University XYZ Second Hand Books’. If you haven’t heard of this before I’m sure I just saved you all a few dollars.
- Take public transport. Despite loosing some sleep, using public transport is more cost friendly than paying parking fees. Plus there’s not always a guarantee that there will be a space available. As my campus in smack dab in the Central Business District, there aren’t many parking lots available for the number of students to use along with the general public. At a parking lot it can cost around AUD$18 for more than 4 hrs otherwise it is approximately $4 for 30 mins which is crazy!
- Try to pay your student fees outright rather than taking a loan from the government. Although every time the semester rolls around it might not sound like a good idea. In the long run it can be very beneficial. Taking a loan from the government might be a good option but by the time you reach the minimum taxable income threshold, your tuition will have increased (due to interest). Wouldn’t you rather having the money you earn become yours? (rather than going towards your loan?) If you are in a situation where you can’t pay your tuition outright every semester, paying even a portion of it would still be useful. Paying back less is better than paying off more, right?
Hopefully these tips are helpful for you all whether you’re studying or working.
What is a money saving tip you swear by?