Today’s post is a guest post! I am so excited to share these tips on how to save money as a student with you! Em is a UK blogger focusing on blogging, business & sustainability on her blog “Love, Em.” With 4 years of experience in the blogging world, she is keen to share her knowledge. Without further adieu, here are Em’s tips!
CREATE A MONTHLY BUDGET
Before the month starts, sit down and look at your expenses. You’ll never be able to save money if you don’t know what money is coming in and out each month.
Work out how much money you’ll be making this month. You should include your job, and any side hustles you have going on. You should then take away your expenses. This includes rent, bills and any direct debits you have coming out.
Anything you have left should go towards essentials like food before you spend it on luxuries. If you’re not happy with how much money you have left after your food shop, keep reading for tips on how to increase your cash!
TRY OUT CASHBACK APPS TO SAVE MONEY AS A STUDENT
If you aren’t ready to give up your spending habits, you can try cashback apps! Websites like Quidco and Topcashback give you a percentage of your spend back to you. It takes a while to build up a withdrawable amount, but it’s nice to see some money coming back to you.
It’s free money essentially, especially as you can get cashback on most spends. Most stores will give you 3.5% back for your purchase through these websites, so for every $100 you spend, you’ll get $3.50 back.
It’s not a lot, but it’s helpful for big purchases like holidays or furniture. On top of cashback apps, you can also try student discounts. Some stores will offer you 10% off your spending if you have a valid student card. It’s not a lot, but every penny saved makes a difference!
Related: US cashback sites used by a Life on a Dime
MEAL PREP YOUR FOOD
Meal prep is a great way to save money on food. Always pack a lunch for the day, and make your meals in advance. Things like lasagna, chicken with rice and pasta salads are healthy meal ideas that you can pre-make for dinner!
On a Sunday, make a week’s worth of meals, and put them in the freezer. The night before, stick a box in the fridge and defrost before microwaving it for tea the next day! There are so many delicious meal prep ideas you can try.
For extra savings, you can shop in the reduced aisle and freeze anything you don’t use until you need it! You can find some amazing discounts in the reduced food aisles.
BUY SECOND-HAND ITEMS TO SAVE MONEY AS A STUDENT
Whether you’re looking for textbooks or new clothing, always buy second-hand! eBay and Poshmark are great places to look for clothing, while eBay also has a range of books, shoes and school supplies for you to purchase.
Buying second-hand items not only keep things out of the landfill for longer, but it means you can save a lot of money. I’ve found bundles of school supplies for just $10 on eBay which includes notebooks, branded pens, highlighters and more!
It’s an affordable investment, and you don’t have to give up getting new things!
Related: Second Hand September: Are You Up For The Challenge?
CUT BACK ON COFFEE
Coffee shop coffee can cost you around $4, totalling over $1000 a year if you purchase one every weekday. Most students will buy more than one cup of coffee a day, so that figure will be a lot higher.
If you aren’t ready to cut your coffee habit, why not limit your weekly coffee spend? Allow yourself $10 to spend on coffee a week, slashing your yearly spend to $500.
If you want to take it a step further, you could try making your own coffee! A jar of instant coffee will cost you around $5 for around 100 cups, a massive saving compared to coffee shops!
If you only use jarred coffee, you’d only need 3 in a year, the total spending of just $15! Little changes like that can save you a lot of money in the long run.
HAVE NO SPEND DAYS TO SAVE MONEY AS A STUDENT
Every week, challenge yourself to a no-spend day. Try to schedule your no-spend days on your most costly days, which is usually a Friday or Saturday for students!
No-spend days are great because you aren’t tempted to buy food, drinks or unnecessary purchases. Instead, plan ahead and make your own fun!
If you normally go out drinking, buy a few for at home and create a games night! You can still spend time with your friends, but it won’t cost you anything!
Depending on your typical spending habits, you can save as little as £50 each day! Why not challenge yourself to a whole week of no-spending to test your planning abilities!
CALL YOUR PROVIDERS
Most people have heating, a phone bill and other utilities that they pay for every month. Look for better deals online with other providers, then call your provider to see if they can give you a better deal.
Make sure you let the provider know you’re looking to swap and have found some better deals. You’ll be passed over to the loyalty team where they’ll do their best to keep you as a customer.
Make sure you haggle them down to their best deals! You may even find your packages will be upgraded for free as well!
DITCH UNNECESSARY MEMBERSHIPS
Subscriptions and memberships can be costly burdens to your bank account. Write down a list of all your commitments, and decide what you’re actually using.
Having a gym membership can be useful, but if you’re going once a week, it may be better to work out in your dorm. Do you really need 3 movie streaming subscriptions and the latest beauty box?
If you can’t let go of your membership, see if there are any alternatives. For example, does your university offer gym facilities for a fraction of a private gym?
WRAPPING UP EM’S WAYS TO SAVE MONEY AS A COLLEGE STUDENT
Saving money doesn’t have to be hard. If you’re committed to your monthly budget, you shouldn’t have an issue anyway, but it’s always nice to be left with more money than you planned for!
There are so many more ways you can save money, and even make money from your dorm! Don’t let uni life drain your bank account! What money-saving tips do you have for students? I’d love to hear what ways you’re saving money as a student!
ABOUT EMILY:
Emily is passionate about helping others, and since leaving college, has decided to put her passions in writing. You can find her over on social media!
Blog – https://www.loveemblog.com/
Twitter – https://twitter.com/LoveEm_blog
Instagram – https://www.instagram.com/loveem.blog/
Pinterest – https://www.pinterest.co.uk/LoveEmBlogger/
If you would like to guest post for a Life on a Dime, be sure to fill out the form on the Work With Me page!
This article offers practical tips for students to save money, such as budgeting and using cashback apps. It’s a helpful guide for students looking to manage their finances effectively.
[…] Eight Tips To Save Money As A Student […]
This is a great post for everyone- not just students to better manage money & save money!
This is a really great helpful post for someone heading to uni really really soon. Thanks for drawing my attention to Love, Em!!! These are super good tips especially about meal prep. Will definitely be using these tips!!!