Ways to save money as a student

A budget will help you understand your actual expenses while seeing exactly what you are spending your money on. Once you start to understand this you can manage and measure what goes in and what goes out and control what you’re spending on.

Not sure where or how to start? Have a look at these:

• Money Smart ‘How to do a budget’ – a step-by-step guide on how to begin budgeting.
• Splitwise App - this helps you keep track of expenses in a household or share house.
• You Need a Budget (YNAB) – another great app to keep track of your finances and sets you up with good saving and spending habits.

You don’t have to live on 2-minute noodles just because you’re a student! By planning your meals to reduce wastage, buying home brands, buying in bulk and buying frozen foods, all could save you a pretty penny.

Check out this article 8 Grocery Shopping Tips for Students on a Budget for those tips and more.

This includes everything from clothes, textbooks, furniture etc. These days social media make it easier than ever to buy items second-hand. Have a look at Facebook Marketplace to get you started. While you’re there, start looking at what you do own. Take a look at your closet. Can you sell items that you don’t use anymore or have double of?

Student discounts are everywhere! Next time you go shopping or go to the cinemas, look at their website to see if they do student discounts, or just ask at the counter when paying. For example, did you know that ASOS do a 10% discount for students? Make sure you’ve always got your student card on you!

Having a job while you study increases your income stream, but also builds your work experience skills and you can start to build a network of useful contacts! La Trobe has a Careers team you can tap into to help you build your resume and prepare for job interviews as well as having resources such as webinars like “How to Find Part-Time Work”. Check out this article they wrote with tips on how to find a part-time job!

Read it here