Cost of living tips for students

The ability to manage finance as a student is deemed to be a life hack for survival. To get this, here are some tips...

Budgeting

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Maintaining a ‘student’ budget is the most effective way to stay in line with your income. This can be achieved by taking into consideration the weight of your pocket and outlining essential things needed for a certain period. This method can be termed ‘settling your needs and not your wants’. However, it is important to go for a not-so-rigid budget that can be easily adhered to then constantly breaking it.

Eat In

The joy of eating out can be distracting. Remember that the pocket can be empty fast. Knowing how to prepare different meals can help reduce costs and save for upcoming expenses. Even if you do not know how to cook, reading up on recipes or watching videos online can help put a good meal on your table.

Get a job

Taking up menial jobs that will help put a reasonable amount of cash into your pocket will go a long way. But hey! This should not get you distracted from your studies. Working within the hours allocated by the government to students will help you not lose focus on your studies.

Managing Bills

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When you pay for bills like energy, internet etc, for a particular duration, always renegotiate your direct debits/contracts. Try purchasing energy-conserving devices, switching off appliances when not in use, managing your use of the internet, and waiting till you have a reasonable amount of clothes or dishes to wash before using the machine. You could also try wearing thick clothing, gloves, and foot wears to keep yourself warm so that you can reduce the frequent use of the heater. Carry out other measures that will help in saving energy.

Explore student discounts

Malls and entertainment venues offer student discounts and knowing about this will help in cutting down expenses on days you would want to hang out. Sign up to UNiDAYS, TOTUM, and Student Beans to access loads of discounts. Things that might cut deep into your pocket can be slashed in price if you are able to prove that you are a student - you can do this by showing your Student Identification Card.

Shop Smart

Check out prices. Your local butcher or grocer may be cheaper than the supermarket. Always compare prices. You also save money if you buy what you need for the week in bulk rather than going multiple times a week.