7 tips to help students save money effectively

If you’re finding it hard to make ends meet in college, you’re not alone. Rising tuition costs and living expenses make it increasingly challenging for students to stay on a budget. That doesn’t mean you have to be a “starving student” – there are plenty of great ways to save money in college. How to balance spending without worrying about need? Refer to 5 tips to save money right below.

1. Recording of revenues and expenditures

After you receive a parent’s allowance or an overtime pay, you need to record and consolidate them into your “Earnings” list.

This is essential to help you know how much money you have in your pocket and how to spend it so that you don’t have to fill it up.

The recording is quite simple, you can create a habit by recording them on a daily book, or using excel software or downloading applications to spend money on your phone and computer.


For example, use a notebook. Bullet point all expenses spent during the day and can be made at any time, as long as it is convenient and convenient for you.

Try to maintain a daily note-taking routine. To understand the expenses of the month, from which have reasonable spending plan.

You can design your own way to record spending with your own creativity, treat it as a friend and use it every day.

Excel Spreadsheet

When using the excel spreadsheet, you only need to enter the names of the expenditures and the corresponding amounts. The spreadsheet will calculate to let you know the total amount spent. However, it will be quite inconvenient if you do not often use the computer.

2. Budgeting

After all the revenues and expenditures have been recorded, the next thing to do is to budget for each expense.

Budgeting is about setting a spending limit for monthly expenses. For example, the items: rent, utilities, meals, transportation, … are required to pay monthly.

You should set aside a fixed amount of money every month to spend on them. Because these are all spending groups needed to sustain life and study in your city.

Once these budgets are budgeted, the remaining balance is for daily expenses or savings. You should also plan to use the money for this group appropriately and scientifically.

You should ensure that only spend within the set limits and if possible save some to save money.

More or less, try to save a small amount. This helps you to have a backup as if there is an unfortunate risk, while creating a habit of saving.

This will not only help you in the present, but also for the future. Time after graduation, step into life, take responsibility for your own life without support from your family. You will not be “afflicted” and pressured in this new life.

3. Looking for part-time jobs

One of the options that many students choose is to find a part-time job. Not only helps reduce the burden on parents and family but also helps you have more income to cover life.

It should be noted, do not let the work affect the learning process. Remember, this is only a part-time job, helping you earn more income and gain experience.

When you increase your income, you should know how to use them appropriately and effectively, not because the whole month of hard work and spending them in a few hours just to serve personal needs but really do not need such as buying a brand name dress or expensive shoes, …

With this income can be saved, reserve for the future will be more useful than shopping.

Set goals to accomplish your plan, for example, you need to save to buy a motorbike to travel after graduation. This is a purposeful and very legitimate plan.

4. Limit snacks and shopping when needed

The habit of many students is that they have a hobby of snacking, gathering with friends after each lesson just to “chill the wind”. In essence this is not necessary, it will waste your time and money.

For example, join friends at a milk tea shop or buy a snack during a break. It will also cost you something you may consider trivial and think they are not as costly as buying a dress worth several hundred thousand.

But if these amounts increase day by day, by week they will make up a fair share of your wallet.

Try listing them by day and sum them by week, you will be surprised at how little you think they are.

Budget and plan for each expense

Minimize snacking and shopping when necessary. Before shopping, you should have a clear, clear plan and consider whether they are really necessary for your current needs.

And just allow yourself to spend within this limit, absolutely do not take the budget from one to offset the other. Will help you establish a reasonable and controlled spending habit.

5. Use cash, do not use cards

It’s great to have a bank card in some emergencies, but when you start paying with debit or credit cards instead of cash, you can lose track of your spending. You often end up shopping without thinking about the cost because you don’t come to pay for it, just swipe the card once.

6. Shop when there’s a discount

This is not intelligence. Simply take advantage of opportunities when stores have deals on the occasion of opening or the holiday season. Nothing is more interesting when shopping and finding out your favorite items (Best gifts for college students) are halved. It is entirely possible. We like shopping

7. Use public transportation

Do not use a taxi or drive everywhere. Public transport is cheaper and better for the environment. So help protect the world and your pocket by taking the train / bus.