Nowadays, students are spending a lot of their allowances for transportation, food, books, movies, outings, etc. which result to NO Savings. If you are a student who makes every effort to save money, then these money savings tips for students is a must read for you.
How to save money effectively….
1. Make a budget.
Know how much is your daily allowance and decide what are the most important needs. You don’t need to spend all. The less you spend the more money you save.
2. Bring your own food.
Another good way to save money is to prepare your own lunch to school. It can cut down food expenses. You can just simply make your own sandwich, bake some cookies or bring your own bottled water. In that way, you can save a lot from your allowance.
3. Buy used books.
Need a book? Ask around your friends, if they have one and borrow it from them. If they want you to pay for it, then it’s alright. Second hand books certainly cost less than a brand new one.
4. Always ask for student discounts.
Avail student discounts. You can get discounts in public transports, restaurants and even in malls, if ever you decide to go to one. Always bring your school ID with you. It’s a requirement to avail discounts.
5. Apply for a scholarship
Take the time to look for scholarships that you’re eligible to apply for. It will definitely save your parents a lot of money in your education.
6. Learn how to say no to parties. Or concerts.
If you are still depending on your allowance to party, knock it off!
7. Don’t always go to malls
If you want to save money, don’t be tempted to go to malls. Go only when it is needed or when you have some important things to buy. Or just simply manage your schedule on when you are planning to go.
8. Try walking or biking when going to school.
If your school is just a walking distance away from your house, then it’s a good option for you to walk or bike! You can save your transportation expenses with it and also a good form of exercise!
9. Think before you buy.
Always ask yourself, “Do I need this? Don’t just consider the sale/discount. Always consider the importance of your purchases.
10. Open a Savings account.
You can start at P 150 for Youth Savings Deposit. Slowly, put your excess allowance in savings deposit where it will also earn interest. As time passes, you will notice by the end of year, you have enough to spend for recreation or other expenses
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