How to save money as a student

The cost of studying and living in the USA is high, so you need to find ways to save money as a student.

Of course, your cost of living includes accommodation, food, textbooks, clothes, entertainment expenses and more.

But it’s interesting to note that your cost varies according to your personal choices.

In other words, if you make smart choices, you can save a lot of money.

Read on and find out how.

Personal budget

You’re probably already tired of hearing about budgeting.

So, if you already know exactly what your income and expenses are, you can skip this step.

However, if you avoid even opening the bank account app on your cell phone out of fear, you certainly need tips for building your personal budget.

Budgeting isn’t the coolest thing in the world, so we’ll try to make it simple, so you can do it quickly:

First, know your income and expenses to save money as a student.

Most students rely on help from their parents when they are at university or are able to work to support themselves.

Whatever your case, it’s important to keep in mind how much you earn.

Although it sounds absurd, many people don’t even know how much they earn each month and this causes them to spend more than they should.

Next, think about your expenses, from the fixed ones such as accommodation, to the variable ones, such as the amount of bills that can change each month.

It can be a bit tedious, but doing this will help you understand where your money comes from and where it’s going.

This way, you’ll be able to see the expenses that were previously invisible (small expenses that require your money without you realizing it).

These include deliveries throughout the week, streaming platforms and subscription plans.

To make it easier to visualize and save money as a student, you can list your expenses according to categorize such as groceries, education, housing and leisure.

All you have to do is enter how much you spend each week and month in each category.

Of course, there is no fixed amount because it varies from person to person, but the ideal is to have common sense to define a budget according to your reality.

Other tips for personal budgeting

On the other hand, be very careful with credit cards.

Don’t see a credit card as extra income, understand that it’s an advance on a payment you haven’t received yet.

In other words, when you receive the money, half of it can’t be committed to random credit card bills.

All spending on the card must be in line with the spending defined in each category above.

In this way, you will learn how to save money as a student.

Save money by buying products

The first tip is not to buy on the spur of the moment.

Impulse buying is a major villain for those who want to save money during college.

If you’re trying to get to grips with the problem, use some tactics to reduce unnecessary spending.

Among them is the wish list.

A wishlist is a list of general purchases, not just groceries.

In fact, everything you want to buy, you have to put on your wishlist first.

In this way, you buy what you really want and need.

Secondly, look out for student discounts to save money as a student.

Many companies and stores offer discounts for students, so you just have to do a simple search on the internet to find the best ones.

You can check out offers in restaurants, technology companies, entertainment, clothing and more.

As well as searching the internet, we also recommend that you always ask if there are any exclusive promotions for students.

Always carry your student ID card with you to check your student status.

Let me give you some examples of electronic discounts for students:

Apple’s back-to-school discount every year, some offers of which include gift cards and AppleCare+ discounts.

As well as 60% off for students and teachers at Adobe, and discounts on Dell products.

Note that you can buy accessories and computers for a more affordable price.

However, be aware that offers change according to the time of year, location and other eligibility factors.

Ideally, you should visit the company’s website and check out all the information you need.

Other discounts to save money as a student

With regard to entertainment discounts for students, it’s worth mentioning YouTube Premium’s 1-month free trial and monthly fees of just US$7.99/month.

In this case, the saving is US$5 per month.

Carnegie Hall, on the other hand, allows students with a valid ID card to buy $10 tickets to selected concerts.

Finally, Lincoln Center New York guarantees discounts for students through Student Beans.

It’s also worth talking about discounts on food and dining.

Whether you’re eating out or ordering meal kits online, you can pay less.

Several fast food restaurants offer a 10% discount, so you can save money as a student.

Although the offers change depending on the location, we can mention chains such as Taco Bell, Dunkin’, Subway, McDonald’s, Chipotle, Arby’s and Chic-Fil-A.

In addition to fast food chains, you can also get discounts from other companies, such as 55% off your first HelloFresh food subscription box.

Also, at the same company, you can get free shipping and an ongoing discount of 15 for 1 year if you are registered with UNiDAYs.

Regarding discounts on transportation, it certainly changes a lot depending on where you live.

But UNiDAYS-registered students get $3 off any Megabus bus ticket.

Likewise, New Jersey Transit offers 25% off monthly passes to save money as a student.

The benefit is exclusive to students from colleges that participate in its University Partnership Program.

So just visit the website and see if your school is included.

In addition, at Amtrak, students receive a 15% off discount on purchases and train travel.

Final discounts

It’s also worth finding out about discounts on student memberships and subscriptions.

For example, Amazon offers 6 months of Amazon Prime for free.

After this period, you can expect a discount on all Amazon Prime Student benefits.

At Headspace, the discount is 85% on wellness resources, including breathing, happiness, sleep and mindfulness.

And the discount at Babbel is 65% off 3 months of language learning.

Finally, we can talk about the retail discounts to save money as a student.

If you check your student status with SheerID and visit Nike stores, for example, you can get 10% off.

For those registered with UNiDAYs, there is also a 20% discount on every purchase made at Aerie.

And from a 15% to 85% student discount is offered at Kate Spade, just check your UNiDAYs status.

Always remember that other companies offer student discounts.

So when you go to buy something, don’t be shy about asking for a discount.

Also, let go of the mentality that the discount is too little, so I won’t save money as a student by looking for deals.

Small discounts can result in significant savings over time.

You’d be surprised how much you can save by getting $10, 15% off or more on every purchase. 

Comparison sites

Comparison services help you research the prices of specific products in online stores.

For example, if you want to buy a laptop to study on, it would be best to use a comparison site to see which store sells it for the lowest price.

The best thing is that good comparison services guide you to safe sites, so you can have the peace of mind of buying without leaving home, while saving money as a student.

Among the platform options is Google Shopping, which was launched in 2011.

Basically, the sales tool displays products from different online stores.

All you have to do is type the name of a product into the search engine and select the “Google Shopping” option (along with maps, images and news).

This makes it one of the easiest platforms to use, as you can look at different product options with just one click.

The great thing is that you can compare prices without being redirected, which optimizes your search time.

It’s also worth mentioning that the results appear in a set of sponsored results, with the store name, price and product photo.

Therefore, in addition to Google Shopping, you can also use other platforms such as PriceGrabber and Shopzilla to save money as a student.

Each platform has its own specific advantages, so you need to compare them to choose the best one for you.

For example, Shopzilla allows you to examine the offer on a separate page of the website, rather than instantly accessing the merchant’s website.

Used products

There’s no doubt that buying used items can mean big savings.

But it’s worth bearing in mind that not all items can be bought second-hand.

For example, even if you find someone selling tires that seem to be in good condition, you shouldn’t buy them.

This is because they may have punctures or defects that you won’t be able to see.

But there are other items you can buy second-hand to save money as a student.

These include clothes. Just make sure you wash them properly.

With regard to tips for buying second-hand clothes, make sure you see photos of the actual item you’re buying.

Also, start with what you know.

If you’re new to second-hand shopping, focus first on items you’re familiar with.

It’s also essential to pay attention to measurements and specifications, as well as to read reviews and do a good bit of research.

But be aware that in the case of hats and shoes, we don’t recommend buying used.

This is because both are more difficult to wash to remove bacteria and body oils from the previous owner.

In addition, shoes quickly mold to the original owner’s feet, so they shouldn’t be bought second-hand.

Other used products bought to save money as a student

On the other hand, consider buying refurbished electronics from reliable dealers.

The dealer will ensure that the items work well and that the computers are virus-free. 

If you do your research properly, you’ll save a lot of money, and you can buy a product with a guarantee.

Finally, it’s worth talking about books.

There are some excellent-used textbooks being sold on the internet.

Since students need that material for a specific period of time (1 year or just 1 semester), they sell them for affordable prices online.

Although the book may be a different edition and a little worn, this is an excellent way to save money as a student.

And if you can’t find the book you need for a particular semester, remember that you can use digital platforms to rent books.

Although it’s not the cheapest alternative, it can save you money in a moment of urgency.

Online courses and part-time jobs

If you’re still considering going to college, consider opting for an online degree program.

That way, you won’t have to worry about transportation costs.

On the other hand, you can also opt for a hybrid timetable.

This means that some of your classes will be face-to-face and others will be online.

Without having to attend university every day, you’ll certainly be able to save money as a student.

Apart from transportation, you won’t have to spend much on accommodation, food and materials (because digital materials are cheaper).

Otherwise, keep in mind that a part-time job will help offset your expenses while you attend college.

Since the job takes up some of your time, you’ll need to learn how to organize your time to keep in touch with friends and family and, of course, keep up with your studies.

In this case, we recommend that you prioritize your studies over your earnings and know your limitations.

Save money as a student – use public transport

Metro Magazine estimated the annual savings of traveling by bus instead of owning a car at more than US$10,000, which occurred in 2018, when gasoline cost an average of US$2.94 a gallon. 

Note that this amount can cover 1 semester or even 1 year of your college costs.

Therefore, we recommend that you buy a pass for the whole year.

That way, you don’t have to worry about always having cash on hand to take the bus.

Of course, this doesn’t mean you have to give up your car 100%.

It’s often more advantageous to hitch a ride with friends from college than to have to take 2 buses + 1 train to get to your place of study.

Analyze the situation and see what you can save, both money and time.

Saving money at university

First, let’s talk about food.

Of course, prices change a lot in this category, especially for students who have special dietary needs, such as vegetarians, those with food allergies or who avoid gluten.

Such audiences may have to pay a higher price for food.

In addition to these characteristics, you have to decide whether to eat at college to save money as a student.

Bearing in mind that prices change a lot depending on the state you live in, let’s consider the following:

You can choose a food plan at university, you can eat off campus (preparing your own food or going to restaurants) or you can buy meal delivery kits.

It’s also interesting to keep the following in mind:

There are different types of food plan for students.

There are plans that cover unlimited meals, i.e. all meals are taken at the university.

On the other hand, some plans only cover 1 meal a day or a specific number that is counted monthly, for example, 65 meals a month.

In this case, it’s best to do your research and find the most affordable price for you.

Also, don’t forget to consider your monthly coffee costs.

In 2022, 92% of university students consumed caffeine.

If you drink a lot of coffee, you should also consider this when paying your food bills.

Bear in mind that the cheapest way would be to prepare coffee at home.

That’s because if you buy a cup of coffee every day, the average cost is US$63 per month.

If you prefer to prepare your coffee at home, the average cost is US$15 per month.

Save money as a student – Housing

Again, costs change depending on your preference.

If you want to live in college, the costs change depending on the institution you study at and also the type of dormitory or apartment.

If you agree to share your room with a few other students, you can save a lot of money.

In this case, you’ll have basic furniture such as a closet, a desk, chair and a bed, while saving money as a student.

The greater the exclusivity, the higher the price.

In other words, if you want to have a single apartment or room, you’ll have to pay a good amount each month.

As a result, in addition to basic items, you get a fridge and microwave.

Some colleges offer the option of renting certain items, such as vacuum cleaners and microwaves.

It’s all about your priorities and preferences.

It’s also important to remember that other factors influence the final amount you spend on accommodation.

For example, you may need additional services such as the internet, cooling, heating and so on.

And when it comes to options outside the university, you can also rent apartments, dormitories or even houses.

Those who rent an apartment or house usually share with other students and those who choose a dormitory like it because the price is lower, and you can stay alone in the room.

Being a resident advisor to save money as a student

Food and housing are certainly the most expensive items in a student’s life.

And if you really want to save a lot of money, you can become a resident advisor (RA).

RAs receive an hourly wage or a fixed salary, as well as additional benefits.

These include single occupancy rooms, laundry assistance and meal plan credits.

Generally, the person has full exemption from room and board and can save money as a student.

In case you didn’t know, the RA is responsible for easing the transition to living away from home.

Therefore, it creates a sense of community in university residences.

This is done through activities such as team-building competitions, crafts and door decorating.

In addition, the resident advisor helps first-year students with the transition to college by setting up study groups and facilitating training in organization and time management.

They also assist as administrators, establishing a communication bridge between students and academic leaders on campus.

The RA also plays an important role in helping students adjust to life in a shared space that maintains inclusion.

To do this, he holds floor meetings to establish rules and expectations in the dormitory and on campus.

Final tips for saving money as a student

In this sense, you can become a resident advisor when you apply.

Of course, the requirements are different for each university.

Some schools require you to attend information sessions in advance.

Along with submitting a formal application, you may be asked to send references or write an essay. 

Depending on the university, you may also be required to take part in a formal interview.

The interviewer will mainly look at whether you have the potential and the ability to resolve conflicts.

In general, we recommend that you look at the issue of food and accommodation together, because one can have an impact on the other.

For example, if you want to live at university, you will save money as a student when you consider transportation.

In addition, you can count on saving time, because by choosing a good meal plan, you won’t have to worry about cooking your meals.

On the other hand, see if it’s worth living away from college, considering transportation and the time spent preparing each of your meals.

Find ways to have fun while paying little

When we talk about saving money, it’s not uncommon for us to think of cutting costs that we think are unnecessary.

This way, since entertainment apparently doesn’t serve to keep us alive, we stop spending any money in this area.

But that’s not the right way to save money as a student.

If you’ve ever been on a restrictive diet, you’ll understand the following example:

In a given month, you may not spend a single dollar on entertainment, but the next month, you’ll be out of control.

Everything you didn’t do in the month of scarcity, you will do in the second month.

In other words, going on a “restrictive diet” with your finances is not advantageous because your spending will be worse later on.

Ideally, you should learn to select the ideal amount of money for having fun.

Of course, this amount changes for each student, but let’s say you only have US$50 to spend on entertainment each month.

The first step is to do more homemade things to save money as a student.

For example, preparing a snack you love at home, or calling friends over to watch a movie in your apartment.

You can also go hiking, watch the sunset in a beautiful spot in your city, ride a bike, and so on.

All this can be done for free or for very little money.

And, of course, take advantage of the university’s own events because they are much cheaper.

In fact, joining student clubs often offers discounts.

Daniel 29 de April de 2024