Are you a student? Looking for how to save money as a student? Then this post will give you exactly what you want to know. I bet you are thinking that Saving money as a student may be tough and hard to manage.
Well, it’s not that hard. In my student life, I have saved enough money. Below are 12 proven tips I followed to save more than enough money for myself.
These tips helped me with my financial goals, it helped me with my personal goals, and now helping me with my luxury future goals.
Table of Contents
We have listed 12 proven ways to save money for students, so you can achieve your goals easily and without any financial problems.
12 Proven ways to save money for students
1. Establish Your Budget:
Budgeting is so important whether you are a teenager or an Adult. If you know how to manage your money then you will not face any financial issues.
Make a budget plan. Note down all the things you want in a particular month and then divide it accordingly.
Categorize every part of your needs that you are spending money on.
You can use a budget planner for this task. Here’s an example:
If you want an easy way to track your budget you can use resources like Family Budget Planner. This will help you to manage your finances.
2. Set Saving Goals:
Saving is definitely an important part of wanting you’re future safe and secure. Growing money with some investment plans is great but for investment first, we have to save.
You can set saving goals. It’s easy. You just have to decide a fixed amount of money that you want to save Every week or Every month.
Suppose your goal is to save $100 per month. Then you have to save $25 per week.
In this way, you can save lots of money for a month.
3. Try a 30-day rule:
I Personally love this rule and I’m damn sure you will love it too. In this 30-day rule, you have to challenge yourself that you will not buy anything expensive for 30 days straight.
It can be branded jeans, an expensive meal like some junk food, no restaurants for 30 days or it can be anything else according to you.
Make sure you are completing this challenge and don’t cheat on it. If you do this for 30 days your savings will be increased and you will get to know about useless spending.
4. Think before you spend:
Do you ever question yourself before you buy anything? If not then you have to start doing it right away.
This world has lots of things that will attract you. You may find branded jeans attractive but have to ever think that when you already have 4-5 pairs of jeans in your closet, why do you need to buy one more?
All I want to say is buy what is really needed, buy what is required. Stop spending your money on things that you don’t need.
Remember to put Required over Want.
5. Shop smart:
Who doesn’t enjoy shopping? Even I do. Shopping is fine but have you ever tried smart shopping? What is that now?
Suppose you want to buy something online then don’t buy it directly. You can use some cashback websites or coupon codes to buy your things at discount.
There are many websites that offer discount coupons and cashback.
If I want to buy something I always search for coupon codes or I shop from some payment apps that offer cashback.
In this way, I save a lot of money.
6. Cut off Bad Habits:
Now, this is important. It’s better to avoid any of your bad habits like smoking, or drinking. You don’t know how much money you are wasting on these bad habits.
Think for a second, if you cut off all your bad habits how much money you can save? It’s a huge amount of money.
In this way, you can save money as well as your health. This is the most beneficial way to save your parents/yours hard-earned money.
7. Start a healthy diet:
Let’s understand this in a very effective way:
1 pizza: $6
1 kg Apple: $5
1 coffee at any cafe: $4
Green tea packet with 25 Bags: $2
Why are you spending so much money on something that has nothing to offer but some illness and bad calories?
I hope you understood what I’m trying to say. A healthy lifestyle can save you lots of money too.
8. Try Diy's:
I am a huge fan of Diy’s and I always love doing them. I don’t buy expensive skincare products and use home remedies to treat my skin. In this way, I save so much money.
There are many easy Diy that you can do at home without spending any money on it. You can make a rug out of your old clothes rather than buying a new carpet from the Market.
You can make some DIY decorative items for your home rather than buying some expensive home decor trend items.
There are many tutorials available on the web that will help you create DIY items.
9. Cook Yourself:
Fond of restaurants? This is huge mistake students and teenagers are making.
Restaurant-style food is just basic food with lots of oils and spices. This is also an issue for stomach-related diseases.
Cooking is a basic skill that everyone must know whether you are a boy or a girl. Cooking is for everyone. This is a life skill.
If you know how to cook Yourself then you can save so much money from it. In this way, you can prep a suitable meal for yourself as well as you don’t need to pay for it.
It’s more convenient and cheaper than restaurant food. There are so many recipes available on YouTube that you can try at home.
This is a great tip to save money for a student.
10. Say no to credit card services:
I don’t have any credit cards. I always ignore those fascinating credit card calls. Because I know if I start using it at a very early age this will cost me a lot.
Credit Cards are like a burden for me. This service just sounds fancy but this is not the truth.
The research found that Many people spend more money by purchasing not required or expensive items when they pay with credit.
You can use cash for payments or any UPI apps.
11. Don't run behind show-offs:
I have seen my college mates who are not financially stable always wear branded outfits. I know in what condition they are but they just love to show off their parent’s money. I found it really bad.
Even if you are financially stable, never run blindly behind fashion trends. Branded clothes will not make you a brand.
Position yourself in a way that if you wear a simple local t-shirt from a thrift store, it still looks like a branded one.
You can try thrifting too. This will help you save so much money and in this way, you can contribute to nature by promoting sustainability.
12. No expensive course purchase:
There is lots of free knowledge on the internet. You don’t have to purchase expensive courses to be smart.
Instead of buying expensive courses, you can invest Your time in learning from free resources like YouTube and Google.
These platforms are really great. They have lots of tutorials available on various topics.
You can search for a cheap course too.
I hope you got the answer to ” how to save money as a student”. You can share these Money saving tips with your friends and family members. This will help them save money too.
first of all thanks for sharing this post, this will be very helpful for the students. I remember how I face the cash crunch during my student life, I wish I have this article that time. Keep sharing the insightful blogs.
Thank you so much Kanchan, same here :d
Very helpful tips, I think we can follow these even while earning . The diy’s are my favorite and yes no coustly course buying until you have free content available.
As a student, saving money can be a challenge. I am not a student so this post is of no use to me… but I shall share it with those who might benefit
Thanks for sharing such a wonderful topic. These tips will definitely help students to save money. I’ll share this post with my son so that he can also gets insight to save money. 🤗
Wow! How i wish i knew these tips in student life or someone who guided me. Students as teenagers spent lot of money on partying, which definitely can be avoided. 🤗
Definitely worthy article. I can related to most of the points where I did my savings and did what not to make the living, hope knew all of them.
Saving money is an important task especially if you are a student. Investing in savings has to be planned for your future. These tips shared are much doable. Thanks for sharing this information
All the ideas that you have shared are perfect. Reminded me of my MBA days when we use to save money and cook at home and stay in budget.
Saving money as a student is a skill which very few actually have. But I am glad to say that I had this quality since birth and utilized it well when I was a student and it made self dependent both in respect to finance and personal growth. The post is impactful
Saving money is such an important skill love the ha ha shared in this article
Will definitely bookmark it for the future