Best Ways to Save Money As a Student

Becoming a student comes with a lot of freedom. However, if you’re not used to managing your finances, this can be a difficult adjustment. The likelihood is that you’ll only be working part time (if at all), which means you’ll need to be careful to save money. Luckily, with a simple plan in place, you can ensure that you never exceed your budget.

Spend Sensibly

It may be tempting to purchase something that catches your eye or throw a few treats in the shopping cart when out grocery shopping. Always think twice before you buy anything — this includes eating out when you planned to cook. For big purchases, wait a while before buying or at least shop around to see if you can find a better price.

Monitor Your Buying Habits

It’s impossible to know that you’re staying within your budget if you fail to keep track of purchases. Write down everything you pay to see where your money is going. Then, you can decide how much you can afford to designate to each activity. In addition, make sure that you frequently check how much you have in the bank, just to confirm that you’re not overspending.

Travel Cheaper

Whenever you can, walk or bike. It’s cheaper and it gives you exercise. If you’ll need to travel farther, see if public transport is an option. You may be able to avoid bringing a car to college entirely.

Buy Second-Hand Books

There’s no need to buy all your books new — a better option is to purchase them from former students. If you keep the books in good condition, you can even sell them once you graduate and regain what you spent.

Avoid Late Payment Charges

When any bills arrive, pay them immediately, or at least as soon as possible. This will prevent you from needing to pay late charges, which often adds a large amount to the total.

Live Off Campus

You may be able to find significant cost savings by searching for apartments near University of Waterloo. Typically, you can pay less living off campus, even when you add in the cost of utilities.

A great option for high-quality yet affordable Waterloo student living is King Street Towers. It’s almost as close to University of Waterloo as living on campus, but costs a fraction of the price. Best of all, the apartments are all inclusive, meaning you won’t need to worry about budgeting for bills nor paying for a gym membership.