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Money. It rules student’s lives almost constantly. Being a student means having to find creative and smart ways to save your money. I mean, who wouldn’t want to have some extra cash for an end of the week treat, or an extra beer with friends? So how do you do it? Saving money can be super simple for students as long as you know a few key tips and tricks to get around those sunk costs. Here is a compilation of 5 extremely easy ways for students to save money:
Grocery shopping is a huge part of a student’s budget, even including the ramen diet. Students spend an average of $42-$55 per week on groceries which translates to approximately $2600 a year. Although that is on a lower-spend average, there is a way to lower the amount you spend at the grocery store even more. Buying in bulk helps reduce costs while helping you get everything that you want or need in your pantry. Bulk Barn, Walmart, and some larger grocery stores usually provide customers with a huge variety of food options at a low cost compared to the retail product. Things like rice, nuts, oats, flour, sugar, and little snacks are great things to buy in bulk at a fraction of the retail price. Pro tip: buy mason jars at your local dollar store to save money on the bags and help the environment!
Extreme couponing is most definitely a sport, but simple
couponing can really save students big on multiple items. Couponing is a great
way to get the products you want with more bang for your buck. Grocery stores
and pharmacies usually have flyers posted in store or online and by checking
this before you head out to shop, you can save a lot of money. In addition, there are many great apps including
Honey, Ibotta, Checkout 51, Saving Star and more which provide you with instant
coupons right in store. These apps also help you check local prices in case your
store is willing to price match!
Eating out can be fun and really delicious, but in the
interest of saving money, students should try to eat in as much as possible. You
may spend around $10-$15 per meal when you go out, but cooking cheap and
simple student recipes can cost you around $3 for a whole meal! You can
also make cooking fun by being creative with inexpensive ingredients and utilizing
minimal luxury ingredients to add a bit of flavour. For example, upgrade a
simple instant ramen noodle by adding egg, meat, and fresh veggies for only $2-$5
extra. These cheap meal flips help you ensure you’re eating well while saving
your money!
I strongly recommend that students buy nearly everything they can second hand, with obvious limits. Buying new textbooks is rarely required for any course, and normally older versions explain the exact same content just in a different order. Many students prefer buying used textbooks because they are half the cost of the new while relaying the same information. In addition, using platforms like eBay, Kijiji, Amazon, and Facebook Marketplace can help make buying textbooks, furniture, clothing, and overall shopping much cheaper! The biggest tip is make sure you check the quality is fair, and make sure you’re not afraid to touch what was previously owned by another.
Beer and alcohol can be pricey, I know all too well. So how do
you save money, but keep your social life intact? You just have to be willing to make
some compromises. The main strategy is to try to party at your place or at your
friends' to avoid having to spend money on cover and pricey beverages. If you
have decided to still go out, pre-drinking is a great way to start the night and usually prevents you from buying more drinks at the bar. Please drink responsibly!