Do you want to know what one of the most useful abilities for first-year students is? Spending less and saving more.
If you don't plan, you can end up spending a lot more money than you intended. That is exactly what occurred to me during my first semester of university, and it was a difficult lesson to learn. However, I discovered some very practical strategies to help me minimize costs and stay within my budget.
In this essay, I'll give you my top nine money-saving suggestions for now and in university.
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Get a budget
This is probably self-evident. "When it comes to your finances, set a budget and plan," I'm sure you've heard a million times. So why am I repeating myself here? Because it's one of the most important things you can do to save money and live comfortably.
Fortunately, it's really basic, so you should be doing it even in high school.
Making a budget allows you to determine what you need to spend money on, such as petrol, groceries, and phone bills, as well as what you want to spend money on, such as clothes, movies, and eating out. It also tells you how much money you can put aside for savings or an emergency fund each month
.Set aside a certain amount of money for fun activities and stick to it.
I'm sure we all like to spend money on things that bring us delight. I'm guilty of blowing a lot of money on video games and going to the movies. And, while doing these things on occasion is fantastic, it's easy to get carried away. In this circumstance, budgeting is beneficial. Set aside a certain amount of money for fun activities and stick to it. It's worth it to spend a little less on hobbies for peace of mind.
Prepare your meals.
It is not only unhealthy but also expensive to eat out every meal. The most cost-effective method to eat is to buy your goods and prepare your meals. You can even prepare a lunch or snacks for yourself if you have classes all day.
Cooking is also a valuable skill to possess. Check out these basic recipes and must-have goods if you want to learn more about cooking for yourself!
Campus meal plans are also a wonderful option if you don't have the time, energy, or inclination to cook for yourself. Even if they aren't as cost-effective as cooking your food, they are still a better option than eating fast food or going out to dine.
Reap the benefits
It's pretty great to be compensated for doing something you have to do anyhow. There are numerous reward point systems available to help you get more bang for your buck.
Scene points, PC Optimum points, and Air Miles are examples of these. Essentially, they assist you in making purchases such as groceries or viewing a movie less expensive in the long term. My buddy recently used the Air Miles she'd accumulated on her credit card to purchase an airline ticket to Florida and saved a couple of hundred dollars!
Using reward points is a great method to save money on goods you would otherwise have to pay full price for.
Explore student discounts
Student discounts are one of the numerous benefits of being a student. Student discounts are available on a variety of products and services. Student discount tickets are frequently cheaper than ordinary tickets on the local transit system. Student tickets are also available from GO Transit, which has helped me save a lot of money when traveling to Toronto.
Student discounts are one of the numerous benefits of being a student.
However, it encompasses much more than just public transportation. Student discounts are frequently available at grocery stores, movie theaters, museums, clothing/book stores, and even technology and phone firms (sometimes confined to certain days).
On Tuesdays, some local grocery stores offer students a 10% discount on groceries. That's why we usually go grocery shopping on Tuesdays in our house.
Look into possible discounts before planning activities with friends or going out to eat! If you're thinking about coming to Waterloo, you'll be able to take advantage of several exclusive student discounts. Student discounts are an excellent way to save money while still having access to a variety of activities.
Also, don't overlook the goodies! It's all about finding freebies when you're a student, and they're not hard to come by.
There are constantly events on campus (also check the WUSA website) or in the city that is free for students to attend (and sometimes even free food).
Also, freebies aren't limited to food. Many high school and university students can acquire free software from their schools (Microsoft Office, Adobe, etc.). And, with your student ID, you can often get into places for free or at a discounted rate (like the Art Gallery of Ontario on Wednesday evenings).
To save money, downsize.
Downsizing is usually associated with retirement and moving into a smaller home. You may not be retiring, but if you're headed to university soon, you'll most definitely be downsizing!
If you're in high school, especially grade 12, now is the time to sift through your belongings and either toss them away or sell them. Bring any things you don't wear anymore to Plato's Closet or a comparable organization that will buy them from you for resale.
You may sell furniture, gadgets, games, and pretty much anything else on VarageSale in addition to the places I mentioned above. Also, take a look at Bunz. Rather than selling your belongings, you can exchange them for something you want.
Reduce your expenditures.
This should be a rather straightforward task. To save money on utilities, be diligent about shutting off lights and decreasing water consumption. If you're on a high-cost mobile plan, consider downgrading. Nowadays, working with 1 GB of data or less is simple (remember, you have free Wi-Fi on campus!). If you own a car, look around for the cheapest rates on insurance.
All of these things add up to a large amount of money saved over time. This is something I started doing in high school. I always performed my research before signing up for anything or making a large purchase (particularly if it involved monthly payments) to ensure I was receiving the best value.
Try to evaluate the services you're now paying for if you've never done so before. Do you require them? Could you make do with a less expensive plan? Get rid of the stuff you don't need to free up funds for more vital things (like tuition!).
Make use of the facilities on campus.
Make use of the services offered on campus. You won't need to pay for a separate gym membership because you'll have access to it. You can also borrow projectors or board games to watch movies or play games with your pals. Many students in my house preferred to reserve the TV room regularly to watch shows and movies with their buddies. This is a fantastic way to spend time with friends without having to spend a lot of money!
That's all there is to it! These are just a few of the money-saving options available to students. If money is still tight, you can always take up part-time work to help.
I hope you find these suggestions useful
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