31 May 5 Tips for Saving Money as a Student
Being a student is challenging. Balancing your education with your finances and personal life is no easy task. The solution is to simplify! With these five tips, you can stress less about money and focus more on the other important things in your life.
- Work part-time. One way to have more money is to make more money! At Sterling College, classes are only 3 days a week, which allows enough extra time in your week to work at least a couple of shifts. This extra cash can be used to start paying off student loans right away, or help you to avoid using a credit card for purchases.
- Make our own meals. Going out for lunch or dinner can be tempting, but is an unnecessary expense that can be easily avoided. Make sure to always have groceries at home so that you can always make a meal rather than go out or order in. And don’t forget to shop smart! With a little research, you can find out which local grocery store has the best deals, and the option to buy in bulk. You’ve probably heard it before, but you can apply this rule to your morning coffee as well. Those $5 lattes from your favourite coffee shop can really add up!
- Walk, transit or bike. If you can avoid it, don’t drive to school. The basic costs of having a car, plus gas and parking are huge. Both Sterling College campuses are located close to transit and are easily accessible with a short walk from the station.
- Socialize for free. Go for a walk around the seawall, stay in and have a movie night, do something fun and free with friends! And if not completely free, be on the lookout for discounted activities like Tuesdays at Vancouver Art Gallery (by donation), cheap movie night, or specials at your local bowling alley. It’s really more about the time you spend together than the money you spend together, isn’t it?
- Share the rent. It’s no secret that rent is expensive in the lower mainland, so it’s definitely in your best interest to have a roommate. This cuts your rent in HALF! If you are from out of town and don’t really know anyone, you can use a website like roommatesvancouver.com to find others who are seeking roommates just like you to share a space with.
Those are our top five tips! What are your best tips for saving money as a college student?