Being a student is fun but tough. You have got all the energy and time in the world but have a very limited supply of money. But guess what? I have got solutions to your problems. Using these life hacks, you could save a lot of money and have a balanced but fun life.
1.Online courses and and Certifications
Private tutors and physical coaching institutes are very costly now a days. Not only that, student face many other problems, regarding the timing of the class, the location of the institute,the travelling charges to the coaching centre, etc. all these can be cut down if you opt for online courses at platforms such as Udemy, Khan Academy, Unacademy etc. Online coaching class are relatively cheaper than physical tutorial classes. You'll have the privilege of being mentored and taught by the finest teachers sitting at the comfort of your home.
2.Eat home cooked food.
As students we bear a lot of our monthly expense on junk foods and ordering food online. Always try to eat at home, it is not only healthy, its cheap. I have spent most of my life in different hostels, and I can assure you the fact that there is nothing better than home cooked meals, so while you are at home feast over your mom's home cooked rice and curry.
3.Do maintenance yourself
We have the gift of Youtube! Almost everything is taught on Youtube, for free. Use this blessing in form of technology wisely and extensively. You can cut down a lot of your yearly expense by mending and maintaining things yourself. Your not-so-properly working phone, your virus affected laptop , your motor bike horn, your guitar, almost everything can be maintained and mended without professional help. You just need to get your hands on the correct information.
4.Use hotels on hourly basis while travelling.
Going out on a weekend tour with your friends or with some one special? Why pay for the whole day, if you'll be needing it for the night, pay hotels on hourly basis and save almost 30% of your budget. This way you can either save money or can opt for a better staying experience while spending a lot lesser than the original tariff. Either way you save money. These hourly booking hotels are also generally couple friendly and thus provides privacy and room for unmarried couples.
5.Wait for Mega Sales offer on e-commerce websites when buying products.
There are 2 advantages to this, firstly you will get heavy discounts on most products during Mega Sales day on different platforms.Amazon, Flipkart, Shein etc, they all give away huge discounts during Independence day, Republic day, End of season etc. Wait for those offers. Now the second advantage would be, if you wait for atleast one month before buying the product, you will actually get to know wether you actually need it or not. This way you can refrain from impulse buying.
6.Use Money-saving apps and Splitting apps.
When we go out with our friends, we generally don't keep a record of how much money we are spending. And for that splitting the sum becomes difficult. Apps like Splitwise, Chime and Digit are of great use to students. They help you to keep a record of your spending which eventually saves a lot of money.
7.Sell your used stuff
Retrospect. Think of everything which is absolutely of no use to you. Your old books, the magazines which you never read, the flower pot given to you by your ex-girlfriend which you can't take home, sell them all. Every used object has a value, gain from them!
8.Always plan for your dates in advance
Now if you have a partner, things are already tough for you. So to release some financial burden off your shoulder , plan in advance for dates . Use food coupons during dates and of course use hotels on hourly basis and book in advance. Tip: Check wether the hotels you are booking are couple friendly.
9.Refrain from using credit and debit cards.
Try using cash. The easier it is for you to spend money, the deeper the cut it will have on your wallet. Always use cash to buy products from convenience stores, you will get a feel of the amount you are spending. Even if your are using a debit or credit card ,wisely choose the one from which you will receive the maximum rewards.
10.Do not get inside convenience stores if you have a habit of impulse buying.
Students and convenience stores do not go hand-in-hand. The varieties of products available, all at an arm's range, is too hard to resist for the weak hearts. Either buy from local stores or strictly comply to your shopping list when you get inside a convenience store.
11.Get a part-time job.
With the advent of internet, working and earning has become easier. Get part-time jobs to meet your needs, become a home tutor, a baby sitter, an android application developer, any skill that you have, use it to make money. Physical jobs are also available in all the major cities for college going students.Though you won't be making millions in a year, but you will definitely have enough to party with your friends on the month end.
Bonus hack: Drink water not beer!
Students spend a lot of their pocket money on alcohol and cigarettes;I know its tough not to. But a little self control can help you save a lot of money.
I have used these hacks to save a lot of money. Saving money has a number of perks. You don't only feel rich, but you can also buy a bike for yourself, give gifts to your parents and partner, take them out and treat them and have a good time at hotels near by . So till you earn a fat paycheck, use these hacks to save money and have fun.