10 Ways to Save Money as a Student

Let’s be honest here – saving money, especially as a student, is no simple task. However, it is no secret that having your monthly allowance in green digits rather than in red ones can lead to less stress, fewer financial problems and of course, much easier budget choices. So without further a due, time to see if you can make use of one of our student tips for money saving below!

It is widely believed that there is nothing better than applying theory to practice. And even if you are not a student in the field of Business and Economics at university, you should definitely consider something basic in the world of finances – calculating a budget! 

Simply pick a pen and paper or open an Excel file and write down your costs for the previous month. Afterwards, evaluate your income and you will immediately have a detailed picture of your monthly financial status. Do you see any areas that you can work on for more saving? You think that you can save €100 from now on? Perfect, that’s just one way of working against a budget deficit! 

In case you haven’t really thought about it, being a student is a legal status. It is proof not only that you are currently visiting university, but also that you are subject to a whole bunch of discounts and preferences for a healthier budget. 

Keep this in mind and see if you can ask for any special conditions that are applied for students whenever you can. For example, your local bus company might give you a 20% discount for your ticket home next time! 

In today’s world, technology is extremely important for running a normal lifestyle. Additionally, it is also a must for a student with a lot of project work and other university activities. But is it truly worth always relying on paid services rather than turning to something free?

Think about your everyday software, something like Microsoft Office. Well, did you know that there is a completely free of charge online version called Office 365, that even runs the latest versions of Excel, Word and PowerPoint? Or that Netflix, Spotify and all kinds of other entertainment providers offer trial periods that you can capitalize on? 

There is no shame in having a major love affair with food. As many people say – “food is love, food is life”! It is shameful, however, to spend a large portion of your valuable money for tasty stuff that you can prepare by yourself. 

You love chocolate? Great, pay a visit to the near-by supermarket and buy some biscuits, a jar of chocolate and your favourite cream or syrup. Next, experiment and see if you can prepare a chocolate cake with these 3 simple and budget ingredients. Best case scenario: you could find out that you’ve been spending way too much money at university cafés for pieces of cake that tasted worse than yours!

Even though your university might be offering a modern gym including all sorts of sport activities, there is often a simple problem – access usually comes at a hefty price. In form of a monthly membership, you can end up paying more money for practicing your favourite sport than your rental. You fitness maniac! 

As a solution, you can temporarily take up an entirely different activity, that does not require special terrain or equipment or better yet – a visit to the gym. Some good sports like basketball, football or table tennis can do the trick, or something unique that you can do at home, like yoga. Relieve your mind, and save money!

6. Think Twice Before Shopping

Nowadays, everyone wants to be up-to-date with the latest in the world of fashion and technology. As a student, you might be even suffering from the "shop-a-lot"  and "save rather not" syndromes that can severely affect your pocket, wallet and saving. 

In order to avoid this, try to keep track of sales and exclusive deals that are happening soon, especially during the transition from a season to another. Make a list with some wanted items and follow the ancient saying that “patience is a virtue” – during Easter, Christmas or a national holiday, they could come up at a suitable cost for less money! Furthermore, the online world and events such as Black Friday and Cyber Monday can also do you good. 

While calculating your budget status during the beginning of the article, you most probably included your phone bill. But unlike any other costs that you might be dealing with, this one can be severely reduced easily. 

Even if you are the most communicative student in the world, who constantly needs to be in contact with friends, you can still save up from a mobile plan. How? Did you forget about Messenger, Skype, Viber and WhatsApp? Highlight some locations you regularly visit and check if you can rely on a fast and secure Wi-Fi network – that’s everything you need! 

If you still prefer to have basic mobile coverage, than you can go for a plan with more Internet data rather than calls or messages and avoid signing a contract.

Surprisingly or not, the modern business is well aware of the reduced budget capability of the student. And that’s why you can see a bunch of products being given out for free around your university almost 24/7!

Avoid missing out on these opportunities, as sometimes there is much healthier stuff than Red Bull and Monster Energy that can suit your taste. In certain cases, you might also have to participate in a fun game or activity or get a chance to win a bigger prize! Of course, be on the look-out for gift cards and vouchers that can be additionally given with the products as well.

Have you ever considered sharing almost everything with your friends? It is almost like being in a relationship – but one which could be saving you money!

For the best results, you can experiment with your fellow students or roommates and figure out thoughtful ideas on how to save from your budget. How about the price for reasonable cable TV and Internet for a single contract split in three? Or a non-personalized membership that everyone can benefit from? So many possibilities!

Finally, there is no better way to conclude this article than with an old-fashioned way to save money. Think of it as a challenge – all you have to do is start with one penny, then put aside two the next day, continue with three the day after and there you have it!

If you manage to keep up this trend for a whole year, or 365 days, you would be able to save over €650! Now, that’s a lot of pennies right there!