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10 tips on how to save money as a university student?

Updated: Mar 4

As a student, it's important to save money, so we've put together 10 tips from our own experience on how to save money as a student.

1. Budget planning:

The first and most important tip is to plan your budget for the academic year or semester and stick to that budget. Write down all the costs you will need, including tuition, textbooks, rent, food and other necessary expenses. By reviewing your costs in advance, you'll make it easier to save.

2. Shop wisely:

Buy used textbooks and other necessities. Online marketplaces and university bookstores may offer better prices. Don't buy unnecessary things you don't use.

3. Cost-cutting options:

Look for discounts at the university or local stores and restaurants. A university student card usually gives you free or low-cost access to sports centres, swimming pools and university events.

4. Rent cheap accommodation:

If you can, rent a cheap apartment or room, preferably away from the university but close to public transport. Cheaper apartments are usually further away from the centre, but are usually more comfortable than university network rooms. If you have a flatmate, share costs with them, such as rent, food, electricity and water bills. This will help reduce your expenses, and a joint budget will allow you to plan your spending together.

5. Cheap travelling:

Look for cheaper transport options such as public transport, car-sharing or bikes. Car-sharing may be convenient if you have to travel long distances, but cheaper public transport options are preferable. If you have the option, forgot the car and use public transport or bicycles. Cars are expensive to maintain and public transport or cycling are healthier and more environmentally friendly options.

6. Cook at home:

Cooking at home is usually cheaper than buying food from a restaurant. Buy cheaper ingredients at the grocery store and prepare meals at home with friends or roommates.

7. Use free learning resources:

Find free resources, such as university research databases, search online library resources, and search for free resources. Universities often organise free programmes such as lectures, concerts, film screenings and sporting events. Look for these opportunities to have fun without spending a lot of money.

8. Find a job:

Find a student job. Such jobs allow you to earn money and gain work experience while still fulfilling your university requirements.

9. Look for scholarships and grants:

Look for scholarships and grants offered by the university.

10. Use cash:

Yes, we know, using cash instead of a debit card is not that convenient, but it will help you track your expenses much better.

Download the free Voovo app, to study faster than ever. It's available on Android and iOS as well.

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