Tips to Save Money when you’re A Student [Guest Post]

Do you have fine wine taste and cheap beer budget? It’s absolutely fine - majority of the college students survive on a tight budget while the remaining get indulge in relentlessly over drawing. But it always does not need to be so. Read along to find out how!

Saving money as a student can certainly prove to be quite a daunting task. It’s very likely that you are at present making very little or no money at all and the sum you have is simply not adequate for you to make big purchases or to help you get past a wedge.


Despite all odds to ensure you’re saving as much as possible, follow the tips mentioned below:


Identify Your Goals 

You need to be clear about the goals you set out for your monthly or weekly expenditure. Decide whether you are looking to save a few bucks for a lunch or dinner party or you want to save for a big vacation that you've been planning for long.

Credits: http://www.supermoneysave.com/wp-content/uploads/2011/05/Save-Money-While-in-College.jpg

Next you are required to figure out your short-term and long-term goals and then decide how much can you save for each of them. Even if you don’t have any goals in mind, it is still advisable to keep a small amount separate for future use. Such savings would help you easily get out of any blind event and emergencies in the near future.


Incorporate Savings into Your Budget 

Once you determine the total amount of your savings, you can then finalize the amount you need to put away every week to meet your targets on time. Example, if you are required to purchase a set of books (priced about $300) after three months, then your monthly target would be to save a minimum of $100 every month to make it $300 after three months.


Look For Part-Time Work 

If you make more money, you can genuinely save more. If the load of your studies in under your control and if you feel you have the capability and potential to take up another activity, seek part time jobs that better fit into your schedule – you can consider home tutor options in Singapore.

There are many colleges, which provide students with convenient part-time jobs in campus libraries, bookstores and computer labs. The administrators at such places know that you’re a student and understand the importance of attending classes and therefore you might be allowed to work for one or two shifts every week. Opting for delivering private tuitions in Singapore can be one great way to making extra income.


Make full Use OF Your Student ID Card 

The little piece of card – student ID card can help you gain lots of discount coupons on various merchandise and food items at great many places. Make sure you check in your student services department to learn what discounts are available to you.

Guest post contributed by:

Author Bio: Lim Chuwei is a Teacher in Singapore at ChampionTutor and highly advocates the use of cloud based application for teaching and learning.