Tips To Save Money As A Student Mastering Money Management

Tips To Save Money As A Student: Mastering Money Management


Imagine getting selected to study at your favourite University, and you are staying in a hostel. It has been an easy journey up until now, but saving money has been an issue. Don’t be disheartened. There are many ways through which you can save money. So, let’s understand how you can save money as a student. Here are the tips to save money as a student:

9 Tips To Save Money As A Student

  • Create A Budget

The first and foremost thing you should do is create a budget; if your parents give you a monthly allowance, then create a budget and ensure that the budget is a bit higher. Consequently, this leads to you having money for emergencies. Furthermore, if you make a budget, it also helps you cut unnecessary expenses.

  • Don’t Buy Books

As a college student, you can borrow books from your seniors. If you don’t get the book you want, you can buy it from the store and resell it later; the only catch is you get half the price or even lower. The other option is to download the book from online sources since it is cheaper, and then you can also share it with your classmates.

  • Use Public Transport

If your hostel is near to your college, walk to the college. If the college is a bit far off, opt for going to the college by bus. Going by bus is cheap and helps you maintain your budget, but walking to college keeps your body fit, and you can enjoy your walk if you are going with your classmates. Another option is to have a bicycle and ride the bicycle every day to the college.

  • Scholarships

When you research about colleges you want to study in, also research about scholarships. You can avail of the merit-based scholarships based on a test, and if you pass, you save at least 50 per cent of your fees. You can also apply for online scholarships at the government websites such as

  • Learn To Cook 

Learn to cook, Tips To Save Money As A Student

If you are going to live far away from your home, then cooking is a vital skill that you should know. When you cook for yourself, it helps increase your confidence and helps save money that you would waste by ordering from outside. If you live with your friends, you can contribute and pay the money for groceries. Consequently, it helps all of your friends to save their money.

  • Do Some Internships

If you have free time after college and you want to do something to earn extra money, you can always do some internships. Companies like Internshala provide part-time and full-time internships, so if you have graphic designing skills, content writing, or any other skill, you can apply, and if selected, you can earn well. The interesting part is that all these internships will add experience to your resume and will help you in the future.

  • Exploit Student Discounts

Many restaurants and shops provide student discounts; you should always use them, as they help you save a lot of money. Students Peeps is a website that gives discounts on over 40 brands, including Microsoft, Udemy, Spotify and Rapido. Your student ID is vital to help you get all types of discounts, and you can avail of discounts on buses, trains, and events such as concerts or live shows.

  •  Cancel Your Automatic Subscriptions

Nowadays, everyone is addicted to Amazon Prime, Netflix, or watching movies and series. If you want to save money, you should cancel your automatic subscription, especially those you no longer watch. Check all other subscriptions you have; for example, if you don’t have the time to read the magazines, you shouldn’t subscribe to magazines.

  • Bulk Buying

Rather than buying everything in small packets, you and your roommates can buy in bulk. If you want to have Maggi, rather than buying small packets, you can buy a jumbo pack, or instead of buying one or two soaps, buy a pack of it. These help you save money, and you also don’t have to waste your time going to the store repeatedly.

In Conclusion 

In college, you would have to live on a tight budget. However, these nine tips to save money as a student help you save some money for any emergencies and sometimes let you treat yourself.

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