Managing finances is one of the most important and difficult thing for students. They spend a lot on their studies and struggle with their expense management. The best way to overcome such problems is to save money. I used to be a student too and I just followed few basic things and managed to save and make some money. If you can follow the tips given below, you will be able to get rid of your debt and enjoy your college life as well. Few of the money saving tips for university students are:
1. Take up a RA or TA position
This is not simple as it sound, however it is the best thing you can do being a student. If you can get a research assistant job under a professor your life will become easier. Secondly, you will get to learn a lot once you assist a professor. Question is how to get this position? There are few vacancies and many students for it. It is nothing less than a job market where one complete with lots of people. however if you have a niche skill set then getting a RA/TA position is not difficult. You can teach English, Maths or anything else. You can help professor with the research work. As per the state laws in US , students are paid wages on hourly basis and that can vary from 15-20 dollars per hour. I believe you can do the calculations now.
2. Track your expenses!!
Being a student it is important to keep track of your expenses. One should know where the money is going and how can one save it. Here is simple step to keep the track. Create a simple notepad file on your system or on your cell phone and make note of the money you are spending. Make an entry for the small amount as well. You can analyze your expenses at the end of the week and can check what expenses were necessary and where can you cut down your expense. This activity will help you save on unnecessary expenses.
3. Work as a freelancer
If you do not get a RA/TA job because of the lack of the openings you have another option to make some money. You can work as a freelance writer or a programmer. There are many websites that provides you the platform to take up a freelance job. You can pick projects according to the available time and work on it. There are many enterprise level projects available for the freelancers , but it is difficult to handle them being a student. Second good option is to work on the content or work as a technical writer. There are many companies there days that are working in the area of academics and they need good students to work for them. Few examples of websites that provide you the opportunity to work as a freelancer are: fiverr.com , freelancer. com , allassignmenthelp.com and many more.
4. Read and write book reviews
This is a unique way of making money for the students who loves reading. You can go to Dooyoo.com and other similar sites for such jobs. Students are given handsome amount of money and they can choose an alternate career path as well. This job is specifically for the students who are into the reading or pursuing literature as the major course. Few more websites are Shoovng.com, Reviewstream.com and Ciao.co.uk.
5. Start Blogging
Blogging is another way of making money. There are many professional bloggers , who are making a lot of money. They started blog and disseminated the important information for free to the internet community. They are now working part time for many companies and earning a lot. One can only write a blog , if one is passionate about writing. You can start a blog on any topic, such as, technology, medicine, psychology, motivation, travelling, poetry and many more. There are numerous options to start a blog. If you have identified your area of interest then why don’t you start writing one.
6. Bulk Shopping
Tips that i have given you so far are related to making money. Lets look at the tips where you can save money. There are many communication channels available in colleges where students can create groups and discuss things. One good way of saving money is to buy in bulk. As you know there are many offers available on the bulk shopping , one can save a lot. Check out the local websites and shops offer to keep the track of offers.
Well, this is the most effective way of staying healthy and saving money. One cannot eat out every day. Secondly, eating out is any day costly that cooking at home. You can buy your raw material from the shops nearby and cook. If you are planning to leave your home for higher studies then start learning cooking. It is a must learn skill for anyone. Cooking your own food, is way cheaper than buying your food. You would be eating every day, so that would translate to lot of money being saved.
8. Use student privileges
There is no outlet in US, Europe or Australia where you won’t get a student discount. This is the best part about being a student. You can save a lot on entertainment, meals and travel. So whenever you are travelling don’t forget to carry your id card and university card to avail the discounts and offers. You can also save on the accessories ,such as, laptops, mobile phone and other electronic gadgets that are considered to be useful for students.
There are many other ways to make and save money, however if you start with these tips life will definitely become easier. I did not mention about working part time in some outlet because it is not what your skill set is. Being a masters student you have many other options that can help you earn. Saving money requires commitment and one has to have some sense of commitment to save money. Thank you for the time.