Are you a students looking for money-saving and practical financial tips for students? If so, then read on, as I’ve got you covered with 5 bulletproof financial tips for students.
#5. Come up with a flexible budget
Create a flexible budget and stick to it. Below are tips on how to create a flexible budget as a students:
·Determine how much you earn or get in a month
·Prepare a list of your essential and non-essential needs
·Subtract your monthly essential needs expenses from your monthly income
·What remains, save 1/3 and use the rest for non-essential needs
#4. Get a credit card
If possible, get a regular credit card, not a students credit card. Students credits have limited credit allowances and high-interest rates.
#3. Reduce unnecessary expenses
Try and reduce unnecessary expenses. Below are some tips on how you can minimize your expenses as a students:
·Cook instead of eating out. Doing this can help you save at least 20% or more on food costs and budget
·Make a shopping list and stick to it when out shopping
·Always buy non-perishable foodstuff in bulk or wholesale
·Always leave your credit card and debit card behind when you go out shopping. Swiping a card is easy, but it’s not easy to hand out a $1000 bill. By doing this, you will always stick to your budget
·To reduce on transport and gas money consider using public transport, walking or cycling
·Use electric appliances and gadgets that are energy-saving. This will help reduce your electricity bills
#2. Know how to spend less while benefiting more
As a students, it’s essential that you know how to spend less while benefiting more, the legal way, of course! Below are some tips on how you can spend less while still enjoying quality services and standard products:
Always aim to shop for discounted goods
Take full advantage of discounted goods. Most stores have a specific day that they sell their goods at a discount. So, make it your business to know which store and which day the goods are sold at a discount.
Don’t pass out on free events and discounted services
Don’t pass out on free events and discounted services. There are many perks of being a student and having a student ID.
One of the benefits is that you can attend an event that ‘regular’ people get charged for FREE.
You can also get a discount on a service just because you are a students.
The trick is to always carry your students ID with you wherever you go. PS; That doesn’t mean that every service provider will provide their services to you at a discount just because you are a student.
Take time to search for affordable services.
Since not all service providers will provide you with a student discount, it’s essential that you extensively research both physically and online on companies or vendors who offer their services at competitive prices.
For instance, if you are an informative blogger, it would be best to search for an affordable essay writing service for your website.
#1. Look for a part-time job
The only sure way to be financially independent as a students is by having a part-time job.
Please note that working full-time as a students will negatively affect your academics. So don’t be tempted to walk through that path just because you want to attain your ‘financial freedom.
It’s also essential that you look for a job that matches your skills as a students.
This way, you will be able to balance your education and work with minimal to zero pressure, as well as refine your skills for future permanent employment.
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