Savings tips for students

Nowadays, students pay a lot of money to pay for their studies and room. Most of the money goes towards tuition fees and the required books. This leaves you with little money for other things, which is why students are often forced to cut back. Here are a few useful tips to save money on everyday things.

Households

As a student (a student living in a room) you do not live on your own in most cases. You often have roommates with whom you share a living room, bathroom or kitchen. Not only you want to save money as a student, your housemates will also not throw money around as long as they study. Therefore, make agreements together to save money within your household. For example, eat together a few times a week to save money on food costs. Buying and preparing food on your own costs much more money than if you cook together. Just buy a portion of minced meat for just yourself, it will cost you about 1.00 euros. If you buy for more people, for example about three, the price is often between 1.50 and 2.00 euros. This is of course a bit cheaper per person. This is of course also the case with other meat, vegetables and potatoes. Now you can choose to divide the amount per meal by the number of diners and have everyone pay an equal share. It is more convenient, and sometimes even cheaper for yourself, to take turns cooking and therefore pay. You can then decide for yourself what you cook and for how much money, which can save you money! In addition to eating together, you can also make agreements about the use of electrical appliances, the shower, the stove and TV and radio. The use of gas, water and electricity often costs a lot of money, especially in a large household. Make rules about shower times, for how long and how often, for example. You can also argue with your housemates about the temperature in the house. For example, agree that appliances and heaters will not be turned on when your housemates are away, this will certainly save energy. However, make sure you don’t bother your housemates too much, as this can lead to unpleasant situations! Being too frugal with electricity, gas and water can also be annoying for yourself, so keep this within limits. It is also useful to open a joint savings account with housemates. You can deposit the remainder of the rent already paid into this or deposit a small amount every now and then. This prevents you from suddenly having to make large expenses if a crucial device in your inventory breaks down. If nothing is done with the money, you can divide it among your housemates and so you have saved some money (often with interest) and have more at your disposal!

Going out and leisure

You can’t just be frugal in your household. There are also a lot of savings that can be made within the limits of your leisure activities. For example, going out is often one of the largest expenses for a student and this can often cause problems at the end of the month. Going out is fun and you certainly shouldn’t give it up, but if it gets you into debt or you don’t have enough money left over for other things, it’s a lot less fun. Most of the money when going out is spent on drinks and entrance fees to clubs and discos. However, you can also save money when going out. For example, try to get inside before the entrance fee has to be paid. In most discotheques no entrance fee has to be paid before 12 noon. This way you save on your entrance fee alone. In addition, you can of course save on your expenses within the club. Don’t buy too many or too expensive drinks. This saves money and is also much better for yourself! If you know that you will not be able to keep this up, deliberately take less money with you. This way you cannot spend more than you have carefully planned in advance. Then of course don’t take your debit card with you, the temptation is often great to withdraw money anyway. Borrowing money from friends is also not the solution if you really want to save money. As a final tip, you could of course buy extra drinks during happy hour. By the way, don’t drink too much, hospital costs will also skyrocket! You can’t just save money on going out. Other leisure activities can also be cut back. For example, do you like sports? Then keep doing that, but make sure that your sport does not become too expensive for you. Sports such as fitness, gymnastics and skating are expensive sports and there are plenty of alternatives. By going for a run early in the morning and cycling to school or work, your body stays in shape and you have found a cheap way to exercise. You can also go roller skating or simply take a walk every day. Do you still want to continue exercising in a team or at a gym? Then consider how many costs you incur and see whether it could be done cheaper somewhere else or in a different way.

Fixed charges

In addition to incidental expenses, we also have fixed costs in every household. As a student in a room, you are also subject to this. This includes not only gas, electricity and water, but also internet, telephone and television subscription. Savings can easily be made on all of the aforementioned matters. In the case of gas, for example, you can take a shorter shower or less heat. You can also turn the heater down a degree and wear a thicker sweater instead. To save electricity, you should switch off appliances completely, so do not put them on standby mode. Especially on weekends, when most students go home, it is wise to completely disconnect devices from the power. Also, don’t leave mobile phone or laptop chargers plugged in, as this is not only bad for your devices, but it also uses a lot of power. Another useful tip is to purchase economical lamps, which cost less energy than normal lamps. Of course, taking shorter showers also works to save water. Another tip is not to wash too quickly and too little at the same time. This uses a lot of (hot) water and also takes you more time. If you live alone or as a couple, it is better to save one day’s dishes and only wash them in the evening. The same applies, of course, if you have a dishwasher. The biggest water wasters are still the toilet (especially the old-fashioned one) and the leaking tap. So be careful with this! You can also save money on internet and television subscriptions. When choosing such a subscription, pay attention to which offers apply and how much you ultimately have to pay per month (after the offer). Taking a package is often cheaper, but this can also be more expensive, because you often also have to include landline calling and not every student needs this. Compare all possible providers and you will see that you will ultimately find the cheapest. Also pay attention to the possible connection costs and the rental price of, for example, a modem. Mobile phone subscriptions also often cost students a lot of money. Prepaid calling is usually cheaper, because you cannot exceed your calling bundle, for example. No more calling credit means no more calling or texting, so you quickly put a stop to your calling expenses. Still want to keep a subscription? Make sure that you do not exceed your calling bundle and take out a subscription that is not too expensive. You don’t always have to have everything, internet on your mobile is not really necessary, but it does cost money!

Foodstuffs

An important part of saving money is of course buying food, drinks and other groceries. Of course, you want to do this as cheaply as possible, but you still want to continue to eat tasty and healthy food. Therefore, do not go to expensive supermarkets, but make sure that they sell fresh fruit and vegetables in the supermarket you choose. Don’t skimp on vegetables and fruit or on bread. These are important foodstuffs and it is not wise to cut back on them. Prefer to do this on candy and chips. Of course you can buy this occasionally, but don’t do this too often. Don’t immediately buy the most expensive type of bread, but choose something that is tasty and cheap. On your own it is often useful to buy half a loaf, but unfortunately it will cost you more. An alternative is to buy a whole loaf of bread and freeze half of it. You can eat the rest later and still fresh. As already noted, it is also cheaper to eat with others. You can buy bulk packages and these are often cheaper than small, single-serve packages. If you cannot or do not want to eat together with others, sometimes buy bulk packages. For example, use a product several days in a row, so that you do not have to spend money every day. For example, buy a large pack of custard, which is cheaper than half a liter and lasts longer. Pay close attention to the shelf life of the products and put perishable items in the refrigerator quickly. Don’t store your dishes or products for too long and don’t be too generous when reheating meals. What you can also do is cook for yourself for two days. For example, you can eat potatoes boiled one day and fry the rest the next day. This also saves you money.

Tips

  • Don’t buy expensive designer clothes, you can also look great with less expensive clothes.
  • Be frugal with what you have.
  • Go buy food with a full stomach, so you don’t buy unnecessary products.
  • Nobody sleeps in line, so find a nice part-time job.
  • Cancel expensive newspaper or magazine subscriptions and prefer to use free newspapers.
  • Don’t buy expensive items if you don’t need them.
  • A mobile phone does not need to be replaced twice a year.
  • The same goes for computers, TVs and music devices.
  • Don’t stop or start smoking!