21 money-saving tricks and tips for students

While you would be forgiven for spending time buried in your financial records, it’s time for you to review how you’re handling your money. Do you have a budget? Do you have a budget? the on the go?

There are endless ways to spend your hard-earned cash or student loans. With a few minor changes today, you can save yourself some money in the long run.

Budgeting

The process of creating a monthly budget is the first step in maintaining a clear view of your finances. Budgeting gives you a clear view of your finances so that you are able to make educated expenditure and savings decisions. It will help you reduce the amount of debt you have at the time of graduation because, trust me, you don’t intend to enter the workforce world with $30K of debt.

1. Make A BUDGET

Prepare a worksheet and evaluate your expenses and income for the coming year. Are you in the green (income above expenses)? Great! Be sure to save money every month.

If your finances are in the red (expenses exceed income) It’s time to find ways to lower your spending or increase what you’re making every month.

Check out the UBC’s Financial Planning page to find useful budgeting information, such as a budgeting basics worksheet and an expense planner. A handy cost calculator that available to download.

2. TRACK YOUR SPENDING

Record every purchase you make or use a budgeting program like Mint, Wally, Mvelopes or Goodbudget.follow the link https://www.chiangraitimes.com/learning/5-money-saving-financial-tips-for-students/ At our site Recording what you spend can help you identify patternsand help you be more aware of where your money’s going and can help you determine any need to make changes.

3. DIFFERENTIATE “NEEDS” vs “WANTS’

While it seems like an easy distinction but you’ll be amazed at the ease with which we justify the rationale behind certain purchases. Saving money by only buying what you really need will give you more freedom in budgeting over the long term.

4. Stick to your budget

Making a budget is most straightforward part. Following that, you have to bring it into effect. However, remember that a budget is not a permanently fixed thing. It is meant to be dynamic. Thus, it needs to be updated as circumstances happen.

School

It is costly to attend university and the expenses can mount up, especially in the months of November and December, when tuition will be due and you’ll need to buy the books you need for class. By making smart choices as well as putting in extra effort, you’ll reduce the impact of these huge expenses on your budget.

5. Take a look at the opportunities for free money!

While we all know that money doesn’t grow on trees (#SAD! ) But there’s many options to receive it at no cost.

Apply for scholarships, grants or bursaries. Most scholarships don’t get number of applications, but it’s worthwhile to put in the time and trying to get it.

6. Be aware of how you spend your money on school.

Don’t pay for house or tuition costs with a credit card, as a 1.75 percent charge is added on of the cost. For a tuition fee of $3000, there’s an additional $30 to be lost.

Try a different method of payment, such as a bank wire or cash. Check out this page Paying Tuition page to find out more about the payment options available to you.

7. DO NOT WASTE YOUR MEAL PLAN DOLLARS

If you’re staying in a residence and you have an eating plan, the ideal option is to use the money you pay for meals to purchase food at the on-residence dining halls. Here you’ll receive a discount of 25% on your purchase.

You can also enjoy 5 percent off when using your flex bucks when you shop at UBC Food Services locations.

8. SAVE MONEY on TEXTBOOKS

Purchase used textbooks from former students on Craigslist, Kijiji, or Facebook groups like UBC Used Textbooks.

There is a UBC Bookstore even has a rental service for certain books. Also, don’t forget to check Amazon for some incredible deals.

9. SELL your Textbooks

After you’ve finished a textbook, you can sell it back at the UBC Bookstore or Discount Textbooks or look for a new student who needs the book.

Food/Grocery

Alongside rent, the most significant bill for the month is probably food. Although eating out regularly is the most convenient way to go, it’s also the most costly. Adopting a self-help approach to food consumption is a smart option to save money and improve your cooking skills.

10. COOK HOME – COOK

A sluggish pace in the frequency you dine out every month can save you huge sums of money. Make large meals at home and then put everything else in Tupperware containers. Bring the leftovers with you to school and heat them up for savings for meals.

There are microwaves all on campus, so really, there’s no excuse. Look over this map as a useful starting point for finding the microwave nearest to you.

11. BUY IN BULK

The bulk buying option helps you get the most value from each purchase. Do grocery runs with other family members and purchase family packs. Divide food into plastic bags and place any leftovers in the freezer for later.

12. Plan YOUR MEALS

In planning your meals for the upcoming week, you’ll know what you will need to buy. You can make a shopping list, and make your shopping list strategically. Make sure you only buy what you require. This can also reduce the waste of food at the end the week.

13. DIY YOUR OWN COFFEE

If you take a every day coffee at $3 per cup, it will cost you $600 through the school year. Yes, I said $600.

Instead, buy bags of beans and make your own. Purchase a travel coffee mug and bring it with you for your visit to campus. It will keep your coffee warm.

14. COUPONS COUPONS COUPONS COUPONS COUPON

You should collect all coupons you can, and make use of them to cut down on your food expenditure.

Shopping

In the world of consumerism our society is quite tempting to desire – in the lyrics of Arcade Music. Being able to resist the urge to shop excessively is the best method to save money.

Of course there’s no way to stay away from buying certain items. If you’re going to spend, take steps that will reduce the amount you’re dishing out.

15. Refrain from STOP IMPULSE BUYS

This should be reiterated: distinguish between what you need as well as the things you’d like to have. If you are planning to spend money for a “want then check your budget first . See whether you can afford it.

Don’t purchase at the moment without thinking about the consequences.

16. SHOP AT DISCOUNT STORES

In fact, the store with the lowest price should always be your first destination when you’re shopping for household goods, school supplies, and much more. Thrift stores are excellent for secondhand clothing , and Vancouver’s got collection of them.

To start, you can take a look at the Salvation Army in Kits, F As In Frank on Main Street, Community Thrift and Vintage in Gastown or for the Wildlife Thrift Store on Granville Street.

17. SELL GENERIC PRODUCTS AVOID NAME BRANDS

This is a simple explanation. When it comes to food, medicine products, toiletries, or household products, choose the cheaper generic option as opposed to the high-end name brands.

At the store, purchase the brand you trust. The $1 or $2 saved adds up over time.

18. ASK the school about student discounts

While many stores offer discounts for students, these deals aren’t often advertised. Don’t be afraid to speak to a store representative. Be prepared with your student card. Inquire and (sometimes) you’ll receive.

Entertainment

Extracurricular activities and a social lifestyle are crucial to make your college experience enjoyable. The tricky part is figuring out how you can be a good sport without breaking the money.

19. Select social activities that won’t Cost money

Get out and cycle, go hiking or sightseeing, or go for walks in the parks. Activities that utilize the nature’s closeness to Vancouver are best. Here’s a list 25 free activities in Vancouver.

20. Profit from UBC CAMPUS ATTRACTIONS

As a UBC student, it is possible to get an unrestricted access or discounts on admission to many of UBC institutions, such as those at the UBC Aquatic Centre and the ARC and Birdcoop Fitness Centres, the Museum of Anthropology, the Nitobe Memorial Garden, and the Morris and Helen Belkin Art Gallery.

21. Join A CLUB

Universities are great ways you can get involved and get to know fellow students. There are literally thousands of clubs within UBC and they’re always putting on social events.

Go to the AMS website for a comprehensive list of clubs.

Don’t be afraid of reaching out to get help

Most students won’t reach out to people who can assist them until it’s for them and they’re in financial difficulties. Beware of this. If you’re low on cash Reach out to the people nearby for help. Let your family know. Inquire your parents to give you money or to provide the loan.

It is also possible to contact Your Enrolment Services Advisor to get advice on what to do. ES Advisors can help you to create a budget or a sound plan for alleviating your financial woes.