Being a student is expensive, what with tuition fees, accommodation costs, not to mention buying books, socialising, getting around, and also the odd gig and trip every now and then.
But there are ways to keep costs down and in this article you will help you to find some easy ways to save money while attending university.
Become a money saving expert today.
Studying
Books
University book prices have been rising along with the cost of tuition, and it is no wonder why so many students have resorted to photocopying their texts. Instead of photocopying why not buy an old edition book, all the information that you will need to know is there and you can keep that book as a reference. It’s not like the gravitational acceleration of earth is going to change with the new edition? Right?
Too broke to buy book? then try to find your books at the local library, not the school’s library. You will be amazed at how many books you will find at the local library, not only is it convenient but is also cheap. True, if you borrow a book for a semester it would cost you a late fee but I mean who cares right, since the £5 late fee charge is nothing when compared to £50 price tag of a new book price.
Another upcoming trend in universities these days is the trend for students to rent their books. I guess these students probably wanted to keep their books as reference or may still need them for the following year and thought they could make some extra cash by renting them out. If you are thinking about renting then its best to rent to people that you know, and always have a legal signed document.
Always Try to Buy Used
Many universities now have a book buy back program, and these books can be found at the university used book room. Also, there are a ton of online book exchange sites on the net which are both free and convenient.
When to buy used & when to buy new? Good question. My rule is this, if a book is say like 4 years old then its best to buy used. The only time I recommend buying new is if the book is less than 4 years old, since it is more likely to being the latest edition, and you know for sure that the same edition is going to be used next term. This way you can sell your books for the maximum profit.
Buy Your Stationary In The Summer
It seems that many of the bigger stationers have sales in the summer to coax parents into buying all the equipment that their school-age children need during the summer vacations.
Use this to your advantage and stock up on folders, pens and the like while they are cheap in the summer rather than waiting until fall when they will all have gone up in price ready to make as much money as possible off people like you.
Buying in bulk also applies here – consider buying large packs of pens, for example, that are forever getting “borrowed”, lost or wearing out – you’ll be surprised how many you get through!
Think Second Hand
Whenever you need something – whatever it might be – consider whether you might be able to get it second hand. Books, for example, are often only used for a single year and then never used again for the rest of your time at university so some bookstores offer to buy the books back and sell them to others. Doping this can save you considerably money over buying them brand new.
But this doesn’t just apply to books – look in newspapers, local stores and campus notice boards for second hand furniture, trainers, sports equipment, kitchen items and so on. Often the little extra time it takes to find these items second hand is well worth the money you save in doing so.
Refill Ink Cartridges
If you print out your own work from your printer rather than using the university facilities, consider having your ink cartridges refilled rather than buying new ones which can save you considerable time and money.
Printing & Photocopying
Many students save money on printing and photocopying by the use of a scanner. The student simply scans what he/she needs and emails the scanned file back to him/her self. Not only will you save money, but will also have an electronic copy of the file which you could later download to your laptop or pda. If you really must print then try not to use the school printing services. Most of the time these services will cost you an extra 5-10p per page, which could go towards the purchase of a new ink cartridge.
Lifestyle
Clothing
Instead of buying those brand new “check marked” shoes, why not save your money for something that you will really need in university (laptop, books, contraceptives). Try to visit the local thrift store and check Ebay on a daily basis, you will be amazed at how many £1 t-shirts are out there.
Money/Debit/Credit Cards
Instead of using a credit card, why not only keep cash in your wallet/purse. Not only does this give an exact measure of how much cash you have at hand, and can spend, but will also avoid you from living above your means. Apart from that you could also try finding a part time job on campus, not only will you get some extra cash but will also gain some valuable experience that you can put on your resume.
Quit Smoking
I know, you don’t smoke. I’m not your parent so let’s be honest – an aweful lot of students moke – it comes with the territory. But you’ll also be amazed at how much money you can save by giving up.
And it’s good for your health as well as your wallet of course – so consider quitting the weed before uni and you’ll save thousands over the course of your degree.
Go Tee Total
Being accommodation and food, alcohol will likely be next to eat up most money in your budget. Of course its important to socialise and have fun, but maybe cut back slightly and see the savings you’ll make.
Employment
Have you thought about getting an income stream? This will really help you to save funds and boost your bank balance. There are lots of part time jobs for students perfect to fit around a study schedule. You can also find online jobs which are very flexible.
Accommodation
Minimize Utility Use
It may be that your utilities (gas, water, electricity etc.) are already included in the rent of your student accommodation – in which case great. However it is just as likely that you will be expected to pay for these separately so don’t forget about them or underestimate how much they can cost you.
Whilst it can be boring and hippy-like, do all the things that you’ve heard about from the environmental charities. Switch off your lights when you’re not in a room. Don’t leave the TV on standby. Consider putting on a jumper rather than turning on the heating. Take a shower rather than a bath. And so on.
Whilst it may not be exciting, these tips can not only help the environment but also save you potentially hundreds of dollars each year in bills.
Move In With Friends
Most students start off in halls of residence, which are ideal. Cheap, safe and a great opportunity to get to know people.
However in the second year many students then move into private accommodation and if you are doing such a thing then try to get somewhere with friends. Not only does it make life easier because you are able to share the responsibilities and upkeep of the property with others, but in addition the per-head costs are generally considerably lower.
For example, a 2 bedroom apartment is usually nowhere near twice the cost of a 1 bedroom apartment and the same thing happens as you scale up even more. I have seen houses with 8 students living in them who were paying roughly a quarter of what they would have if renting alone.
So never under estimate the power of friends.
Shopping
Supermarkets
Use the Buy One Get One Free offers (BOGOF) from supermarkets in fact several supermarkets, use them all for their special offers. The more shops you can check, the better. Check out most supermarkets offers online Google, a student’s best friend… second to toptipsforstudents.com obviously.
It’s great when you see how much is there at half price, Buy One Get One Free (BOGOF), and similar. If you’re a very picky eater (never a good starting point) this might not work. But if you’re willing to sacrifice a very particular shopping list and if you only look at special offers you’ll find your food money going a lot further.
There are even offers on alcohol, so try to grab those instead (no I’m not promoting drinking and this is not an excuse to buy it, although, it would be a funny one). In fact, try buying nothing but offers in each of the supermarkets around you. That’s how it should be done. With so many BOGOFs, you’ll soon walk out with double the shopping, but with the same amount of money. Carrying it all back home might be a hassle though.
Related Article: How to save money on food.
Learn Cheap Student Recipes
Food is, of course, an additional consideration and the costs of premade meals can be incredibly expensive. Don’t rely on microwave dinners and so on, or risk your health by simply living on jelly sandwiches, but instead learn some basic student recipes.
With basic ingredients such as tinned vegetables, meatballs, ham and so on that will all keep for long periods of time (no wasted food when it starts to go off) you can create a range of nutritious, tasty and very reasonably-priced meals.
There are a range of books on the subject of student cooking and we are also hoping to be able to bring you a number of recipes over the forthcoming months.
Transport
Only the luckiest students can afford to maintain a car at university so most of us have to rely on public transport and finding ways to cut the costs of travel can really add up over the long term.
Whether it’s travel to a vacation destination, just around your local town or back home to see your family, let’s take a look at a few student travel tips that I hope can save you considerable money.
Railcards
In many countries students can now pay a fee and get hold of a student rail card which will then offer significant discounts on rail fares.
Check online to see what services may be on offer and try to estimate how often you will be travelling on the train, and subsequently whether a rail card will make you a saving. Also be aware that these student rail cards are sometimes given away to encourage you to, for example, sign up for a specific student bank account so if you search around you may even be able to get one for free.
If a railcard isn’t available, and you’re going to be making a certain journey on a regular basis, find out whether you can buy a ticket that covers you for a week or even longer as these too can save you money over the long term.
Walk
Yes, you may be surprised that walking is what legs were actually made for! As a student, get used to walking. It’ll save you considerable money and also help you get fit while you are away, though budget for the time it takes to walk. When I was at uni I knew a lot of people who were on a very tight budget but used to wake up so late they didn’t have time to walk to university and ended up catching a bus which over a few weeks really added up.
Share Lifts
In the cases when you really do need to take a car (always the most expensive way to travel) try to share a lift with others. Share a cab fare, or make friends with someone who has a car and chip in for gas money. Finally, see if you can even share a lift from your local area to your university town to even save your parents money,
Book At The Right Time
Last minute flights can be got at a considerable discount while train fares are often cheapest when bought well in advance so speak to the ticket sellers some weeks before a long journey and find out when you are likely to get the best deal on tickets. Check in travel forums to back up the claims and then buy when the tickets are cheapest.
Travel At The Right Time
Typcially travel prices vary by both time of day, time of the week and time of year. For example, travelling by train at rush hour or flying on a weekend is generally far more expensive than travelling at other times so again check to see when the cheapest time to travel is and find a way to travel at that time. I used to book my train tickets a month in advance and then travel on the 5am train home – but this in combination with my rail card saved me literally hundreds of dollars each year.