Being a student is hard, and you know what’s even harder? Living as a student. Many of us, as students never quite understand how to budget our finances and create a saving plan. Being a student in 2021 is expensive. From maintaining a lifestyle and finding living essentials to participating in academic activities and paying for tuition, everything costs hundreds and thousands of dollars every year. Money management is hard and when you’re a student, it’s no less than a pain.
If you’re a student looking for ways to save money and find the best budgeting apps to help you spend less and save more, you’ve come to the right place. Check out the tips down below to learn more.
- Buy e-books
Maintaining a student lifestyle is crazy expensive. And most of the money saved up goes into buying essentials, school supplies, and mostly books. And these books barely make it to the next year. So a cheaper and affordable way of saving up on school supplies is by finding them on eCommerce stores like eBay, where second-hand books are mostly available. You’ll save up to 50% and also sell them later on to someone who needs it. You can also ask your seniors to lend them to you after they’re done or swap with them. This way you don’t even have to spend any money at all.
- Find promos and discounts
One of the best ways to save money and spend less is by asking for student discounts on everything. Everything – entertainment, food, travel and retails. Many brands, restaurants, and places understand a student’s struggle and support them by offering student discounts or promo codes. All you have to do is lookup for discount codes online of the places you’re going to so you can take advantage of it and save a few bucks while you can.
- Get rid of unnecessary subscriptions
Do you remember that gym membership you signed up for when you hardly go to the gym anymore? Or that phone plan you don’t really use anymore. Yes, those unnecessary subscriptions are emptying your bank balance one dollar at a time. You will always find cheaper alternatives when you’re a student, so canceling those pointless subscriptions is the first step to saving money. Find alternatives that cost less to no money at all. Instead of spending hundreds of dollars for a gym membership, work out in the park or join your favorite sports team.
Instead of renewing your service, go for a prepaid plan, instead of wasting money on choppy internet service, find AT&T packages in your area, instead of spending on cable TV, and subscribe to a much more affordable DirecTV package. Just call the Earthlink internet and they’ll help you out. There’s a much more reasonably–priced alternative for everything, all you have to do is search!
- Create a budget plan
Money management means having a separate savings plan and a spending plan. Take note of every expense and keep track of how much money is going where exactly. Keep your monthly bank statements intact and note all your credit and debit transactions.
To help you manage your finances better, we’ve rounded up the must-have budgeting apps that will come in handy for every student.
Budgeting is difficult and these two apps make financial planning for students a lot easier. Check them out!
PocketGuard is that friend you need who will tell you every time you’re going over your budget. It knows your spending history, links to all your bank accounts easily, and understands your spending habits to stop you from overspending every month. The app lets you set financial goals and categorize your debit transactions.
If you’re someone who understands finances better by visualizing your transactions, Mint is the perfect pick for you. Just sign up on the app and create financial goals so it can display all your financial data neatly and interactively using visual aid. Track all your transactions, investments and manage credit scores easily with Mint.
To Wrap It Up
Saving and spending money isn’t a one size fits all concept for students. But knowing where the money is going is what makes finance management easier. Employ these money-saving tips in your lifestyle and download these two budgeting apps to help you keep track of your money!
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