10 Money Saving Tips For International Students
The necessity of money in our everyday life is essential to mankind and in all ramifications of life. With money, you can get yourself a good pair of shoes, good clothes, have a good meal et al.
In fact, money can get you anything you want, anytime, anywhere, and anyhow you want it. Many books have been written on the importance of money and how valuable it is to mankind while some books have been written on how to manage money or your wealth.
As a student studying in higher institutions, money plays a pivotal role in every area of your life, and managing your money should be a top priority.
In most cases, saving money as a student is a difficult feat to achieve but it is the best move for any student to make.
Saving money as an International student should be a priority because it helps cut down many expenses that might require spending so much money especially since it’s often hard to get jobs as a student, especially as an international student.
International students studying in various parts of the world are aware that saving money is important because studying in a country different from where you were born and bred is
usually difficult and comes with some kind of stress including money-related issues and that is why this article is up to give them 10 tips on how to save money as a student.
For the purpose of this article, here are the 10 money-saving tips for international students;
1. Apply for scholarships and also go to schools with low tuition.
There are scholarships for different purposes like tuition fees, transportation, and other needs.
All you need to do is apply for it especially if you meet up to the requirements. There are full scholarships and half scholarships, the most important thing is that they all help cut down expenses and also Dave’s money.
2. Cook at home
Coming back from school and going to the kitchen to cook is sometimes tiring but it helps save money. Cooking your own meals instead of buying them is very cheap and better than always buying meals or eating out.
If you have a freezer, you can cook and store food for future consumption. This is a good way to cut down on meal expenses.
Also if you want to shop for meals, it is advisable to do it in the evening because most shops have clearance sales in the evening.
3. Have a budget
Decide on a particular amount to spend every week and work towards it. You can have a budget by writing down how much you spend in a day if you spend money on necessary things or unnecessary things.
How many transactions do you do in a day and on what.
4. Focus more on your needs than your wants
Check if you do more impromptu shopping than planned shopping and also if you spend more on your wants than your needs.
Most times you don’t need that new pair of shoes or that video game player so focus more on your needs instead. You can focus more on your needs than wants and still be a sophisticated minimalist.
5. Have a savings account
As a student, you must have a savings account. You must have a savings account and your personal account instead of putting all your money in one.
Also, have a particular amount you put into your savings account and also a time. It could be for two weeks or every month.
it doesn’t matter which savings plan you choose, it is just important that you save. It is also advisable to set up an automatic transfer from your personal account to your savings account instead of a manual transfer.
6. Live off-campus with roommates
Living off-campus with roommates is cheaper than living on campus and staying alone. The best way to save is by doing it with other people.
When you have roommates you can share all expenses with them including rent and feeding.
You can even start a business together, whether it’s selling stuff to students or even cleaning apartments to get paid.
In all having roommates and sharing bills helps save you from unnecessary expenses.
Use more student discounts Most places offer discounts for students and also give meals at affordable prices especially if you have free coupons.
7. Avoid making trips using Uber or expensive transportation
Ubers are expensive so try to avoid using them unnecessarily. Use more free buses for students or taxis.
I know using Ubers helps make the journey relaxing but it also involves too much spending, especially when used every time.
8. Avoid taking loans or paying your bills using credit
Taking loans and buying things using credit sounds like a good idea until it’s time to pay.
It only increases your debts and disrupts your saving plan because any money coming in is for paying off your loans and credits, so try to avoid taking loans and credits.
If you need to hide your credit card or intentionally misplace it then do so if it will help you save more.
9. Take on one or two side jobs or hustle
You can save by taking on side jobs or side hustles. Since you don’t learn 24/7 you can use some time to take on freelancing jobs like writing or content creating, cleaning students’ apartments, or even going shopping for them and getting paid in return.
10. Cut down on travel expenses
As an international student, it’ll be exciting to have fun and travel to different places especially if you are in the country for the first time.
Traveling sounds like an exciting idea but it requires spending and not saving so going on trips as a student is definitely not a good idea.
These are a few saving tips you can adopt while in school as they will help reduce the number of debts you acquire during your stay in school.