How to make a budget and cut down expenses? This is the most difficult question, almost all students face in their university and college life. Students should know how to manage their budget, if they do not learn at this stage, they might get into debt which not good at all especially at this stage of life.
Below are some tips on how to manage expenses in the limited budget
Students have to consult different sources for references. Either they have to buy books or notes, which are pretty expensive. Almost 50% of student’s budget spends on books and notes. But you can save your money by buying second-hand books from a market; they are almost half the price from new. You can also use your college or university library. Which book you need, go to a library and borrow the book. You can also avail students’ discounts.
Going out with friends for movies and dinners and attend parties, these are the things which can cost you the huge amount. You can limit your activities. Do hang out with your friends and peers but not that often. Go once in a month or two. Being a student it is your foremost responsibility to study. Others things come after that.
Internet the most important thing in today’s time. Today’s generation can’t even think to live without internet. It has become the basic necessity now. Being a student you also do need internet for various purposes. Try to figure out which internet package you are using and go for the one with the nominal price to keep your budget in control.
Transport is another expense that students have to bear during their university and college. Try to look for the cheaper ways of transport. You can use a bus instead using the taxi. Shared transport can also be used. You can pool in with your friends too in order to cut down expenses. There are also special passes for students in train and busses.
Food costs you the most, it is a necessity but you can also keep that on a budget. Do not go to the expensive places, Use College or university canteen or you can bring your lunch with yourself. If you are living in a hostel, you can make your lunch for yourself. This food will not only be hygienic but it will also not burden your pocket. Look for reasonable grocery shops to buy food items for you.
You can save your money by making wise choices while shopping. You can avail discounts, or do shopping in the discounts times. You can save up to 50% when you shop from a sale. You can also use your student’s card to get discounts.
There are extra studies expenses which you can avoid printing, photocopying and library fines etc. these are not compulsory things and you can easily avoid them to save money. Students have to take lots of prints; it is feasible to buy a printer, which will be very cheap compared to taking prints every time from a printing shop.