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2018-09-20 19:27:49Finance Tips For StudentsEnglishEvery student knows how to hustle. Whether you need more cash to pay your rent, keep your car running or buy more textbooks, there are...https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2018/09/iStock-855697756-2.jpghttps://quickbooks.intuit.com/au/resources/finance-tips-for-students/6-cost-saving-tips-for-university-students/6 Cost-saving Tips For University Students | QuickBooks Australia

6 cost-saving tips for university students

2 min read

Every student knows how to hustle. When you’re not attending lectures or studying for your next exam, you’re working part-time to pay your bills and fund your student lifestyle. Whether you need more cash to pay your rent, keep your car running or buy more textbooks, there are loads of ways you can save money as a student without having to get a second job. Here are five cost-saving tips for university students.

1 Start selling items

You could be sitting on a gold mine. Take a look around your room, your apartment or your parent’s house to see what you could sell. Websites like Gumtree, ebay and Facebook Marketplace make it easy to start selling items in no time at all. Sell books, shoes, clothes or household items and start making cash. Also don’t forget to resell your textbooks and study guides at the end of every semester or year.

2 Cancel your gym membership

There’s no doubt about it, exercising as a student is super important, not just for your physical health but your mental and emotional state. In saying that, gym memberships are expensive and few get their money’s worth week in and week out. If money is tight, consider cancelling your gym membership and exercising for free, by going for a run or getting together with friends and doing yoga or aerobics in the local park.

3 Limit credit card purchases

It’s easy to buy a few extra items at the shops or go away for the weekend and pop it all on the credit card. After all, isn’t that what it’s there for? While it may seem super convenient, paying it back with huge amounts of interest is not at all. Save on bank fees and interest fees by keeping your credit card only for emergency purchases – or you could even get rid of it entirely.

Business woman writing on notebook on table with laptop

4 Revisit your phone bill

Everyone uses their phones for almost everything, especially students. You need to obviously to text your friends, call your mum and upload your favourite Instagram photos, but you also need it to check out your latest uni timetable, send and receive emails and organise your calendar. However, there are huge discrepancies when it comes to phone and internet providers so do your research and make sure you are getting the best deal.  

5 Take advantage of student perks

You’re a student and you have a student card – use it. You may not realise it but that little card can give you a whole world of perks. It often varies from uni to uni and year to year, but student cards can provide a variety of discounts on a whole range of products and services, from movie tickets to clothing stores and even books and gift cards. Do your research and see where you can save.

6 Start meal planning

Nothing makes a dent in your savings quicker than eating out every day. A coffee here, a lunch there, a fancy dinner on the weekend, before you know it, you’re cash poor again. Your secret to better budgeting could be meal planning. Start by simply making your lunch during the week and cooking dinner at home a few nights a week. Not only will you see an improve in your bank balance, but perhaps your waistline too.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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