7 money saving hacks for students

It is very important for students to live on a budget which is why it is necessary for them to manage their funds properly.

This is why students need to find ways to save more on things while in school.

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This money-saving hacks will help students learn and also appreciate the benefits of saving.

These are seven money saving hacks every student should try out while in school.

1. Buy used textbooks

This is one money-saving hack every student must try. One smart way to save money while in school is to buy used textbooks.

You really don’t need to buy new textbooks. You can just save more by buying old and used textbooks. Old textbooks would not be as expensive as new ones.

2. Cut out vices

A lot of students indulge in social vices. Indulging in social vices all the time are quite expensive.

If you cannot quit these vices, at least try to reduce the level at which you indulge in them. You’ll save more if you reduce your smoking, drinking and partying.

3. Don’t buy books you will only need for just a short while

If you need a book for a short period of time, there is no point buying such book. You can just go to the library to check if the book is available or you can check online.

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Everything these days is online. The money you are meant to spend on such book, save it for something else.

4. Take advantage of things your campus has to offer

There are so many things a campus has to offer. For instance, instead of going to the museum out the campus which would be more expensive, you can visit the museum in school for a cheaper rate.

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Or if your school has a gym, why not register there. It would be at a subsidized rate. Gym subscription outside is always expensive.

Take advantage of opportunities around your school campus. You spend less inside the school environment.

5. Don’t skip lectures

Have you ever thought about this? When you skip classes with no tangible reason, you are wasting a fraction of your tuition fee.

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Skipping classes and lecture is like wasting your parents hard earned money. If you have no reason not being in class, you should not skip it.

6. Cook your meals yourself

Instead of always eating out, you can save more by cooking yourself while on campus.

Eating at restaurants are quite expensive and you should really try to eat out less.

7. Operate a zero-savings account

As a student, you do not need to open a savings account that has a minimum account balance. You should operate a zero-savings account.

Imagine you only have a thousand naira left in your account which is all you have left and you cannot withdraw it because it is not a zero-savings account, then you will be cash-strapped for a while.

There are zero-accounts you can operate with interest rate. Take advantage of it.