How to survive on a student budget
Embarking on student life is an exciting time, but along with your new-found freedom and flexibility comes the responsibility of managing your own money. Between your fees, books and all the opportunities and experiences, the bills can add up. Here are 5 money-saving tips for savvy spending so you can make the most of your time at university.
1. Take advantage of student offers and discounts
One of the best things about having student status is that there are plenty of discounts and opportunities that come with it. Even on a budget, your student card lets you save on everything from travel to food, fashion and fun. It’s easy, convenient and cost-effective to make the most of your student life with the Varsity Vibe app.
2. Choose the right account for your needs
You want to have the freedom and flexibility to take care of your everyday needs without paying high fees that will eat into your spending. A MyMo Account lets you enjoy all the perks of a traditional account but only pay for transactions you make. A PureSave Account can help you put money away to afford that new piece of tech or those fancy sneaks.
3. BYO lunch, drinks and coffee
Buying refreshments and meals on campus works out to be very expensive and doing it regularly will eat into your money quickly. Bringing your own is cheaper and will save you money in the long run; plus it’s probably a healthier option.
4. Re-evaluate your list of essentials
If ‘adding to cart’ is taking away from your ability to pay for your studies or enjoy student life, then it might be best to stay off shopping apps and websites. Also, don’t try to keep up with influencers: chances are their swag is sponsored, so they aren’t spending their hard-earned cash on it. Rather opt for a few good-quality, timeless staples (which don’t have to be expensive) that will serve your style for years.
5. Gear yourself for the future
We’re talking budgeting and hustling. While not always exciting or easy, they are effective in keeping you financially on track. More importantly, they teach you self-discipline, how to be resourceful and how to stay focused on what you want to achieve instead of just what you want right now. Having a structured approach to staying within your means or earning extra money empowers you to be in control of your financial journey.
The good news is everyone’s been there, and there are plenty of tools to help you control your money and spending, and lots of opportunities online and on campus to work part-time and earn money.