Financials are the root cause to every problem that triggers other unhealthy events in a student’s life. Being a student, you need to turn yourself into a penny-pincher in order to survive through your academic career. That simply doesn’t mean you need to go on a no-spending-spree; learning an effective management of financial outflows is vital for a university-going student. It’s of mere importance that you keep a track of your books, food, bills, rent and other costs associated to your academics like test tutoring. After all, you may have a birthday party to bash during your vacations or a trip to host. For those little moments of chunks, you need to manage your financials accordingly so that you don’t run yourself into student debt, as is the case with many other university students, research suggests.
This handy article lists out 5 of the most effective student life hacks for managing financial outflows. A wiser spending today would save you from a thousand regrets tomorrow. Keep on reading so as to see which life hack you can apply during your academics:
#1: Make Use of Loyalty Program Cards
Ever heard of loyalty programs? These are an additional perk to regular customers. Your nearby restaurants, cafes, retailers, and saloons may be offering these. Look out for them. Synchronizing your budget with all those reward systems into one loyalty card holding your credits and membership details is one easy thing you can do. Make sure to run a fine glimpse over at your stored-value cards to determine if you can use them at retail stores. In that case, we recommend using Wallaby’s. This app would come in handy by telling you which of your credit cards would fetch you the highest reward points.
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#2: Consider Using Rewards Card
College going students or university students who are frugal-minded would definitely think twice before spending even a single buck. Together with keeping a stricter eye on what you’re spending on, also consider the payment method you’re using. Paying through a credit card could help you generate sufficient reward points to utilize for transitions and other types of spending. You may also be able to take full advantage cash-back offers if you get yourself a reward card.
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Also See: 10 Personal Finance Lessons Mandatory for School Curriculum
#3: Know Your Rights – You May Be Eligible for Discounts
Using student ID cards during travelling or shopping at the retail stores is the smartest idea you can take advantage of. You’d be shocked to see how many retail stores and outlets give discounts upon furnishing student ID cards. Nearby theatres, cafes, and gaming zones may have some discounts for you. So, you can’t really miss out on this. You need to be aware of your student rights. You may be entitled for a heap of discounts. Now whenever you go out, don’t forget to keep your student ID card along!
#4: Rent Your Textbooks Instead of Purchasing Them
If you’re not really into keeping your textbooks for a longer period of time (let’s say a year), consider taking them on rent. This way, you’d be paying very less. Amazon’s textbook rental is the finest option available in this concern. You’d be glad to know that a number of printing/publishing companies also offer free shipping upon returning the rented books!
Related: online TSA tutor
#5: Install Budgeting Apps to your SmartPhone
So, fellow readers, what recommendations do you have in mind? Please consider sharing with us!
You can also read: How to have a smarter spending plan
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View Comments
This is so helpful, I'lbmake sure to keep these in mind. Great post ♡
—Athena Christy
https://athenachristy.wordpress.com/
Hi, thanks for dropping by.
At the end of the day - there's a mindset to managing your money, making wise choices!
True, thanks for reading!
I love the textbook renting idea! That did not exist when I was a student but my daughter uses that service. Great post, thank you for sharing.
Mary
https://carleycreativeconcepts.com
You are welcomed.
As a former student I can't speak highly enough about rewards cards! They had so many perks when I was in university, and it was sort of sad to leave behind the student only ones when I graduated. Also take the time to look into discount cards or discount codes. There are various cards etc here in the UK that are for students and have surprising benefits.
You may also be entitled to a % off travel costs too!
Hi, thanks for your feedback Nyx!
I kept my student id after I graduated - after all, they don't ask for it back - and will still use it occasionally to get student discounts. I even still have my dot-edu email, so I can use that to if need be.
There's a bit of danger with loyalty programs and rewards cards - they might make you spend more than you would otherwise. As long as you budget and keep the dangers in mind, you should be good!
HI JoeHx, glad to learn that you are implementing some of these tips!
Having budget apps is great. In fact, making use of any budgeting tool is quite useful. I just wouldn't use he rewards cards system. Frequently it's about sucking you in and overcharging on interest or penalties.
Thanks for your insights.
Rewards Cards adn Loyalty cards can really save you a lot of money because they really provide great returns for your purchases
True. Thanks for visiting.
The reward and loyal cards are always helpful and now that I am about to start my PHd I would prefer renting books.
Glad you've picked some tips to implement in life.
When I was a still a student, I couldn't really do much. That is because, my mother forbade me from working while still studying. Yeah, they supported me and I had my scholarship. But I didn't have a lot of money to manage because I had a really small allowance.
Thanks for your honest feedback.
One thing I appreciated about being a college student was getting all of the college discounts. I still sometimes could get away with it as long as they dont ask for id (which would be 10 years old).
Wow! thanks for your input.