Being a student can be hard on your bank account. With all the expenses that come with tuition, materials, rent, food, and so much more, it can feel overwhelming seeing your bank account take a plunge. However, there are a lot of little ways you can save money and get your student budget on track.
Here are some quick tips to make the most of every dollar:
Avoid impulse online shopping
Obviously, this is easier said than done. It can be hard to resist the urge to buy things online when you’re getting emails and ads from your favourite brands all the time. Fight it! Before making a purchase, ask yourself if you really need those new flashy shoes or that funky gadget you saw while scrolling on Amazon. Close the tab, try to wait a couple of days and go back if you still want it.
Avoid buying brand name groceries & look for deals
Brand name groceries tend to have an extra cost to them when they are often the same as the discount products. Make the switch and see your receipt total go down. Also, check out your grocery store flyers for deals and try to plan around them. They’re usually available online on their websites or on apps like Flipp.
Get a reusable water bottle
A one-time purchase of a reusable water bottle can save you a lot on individual bottles or cases of water. On top of saving money for yourself, you’ll also be using less plastic and reducing your ecological footprint. It’s a win-win for the planet and for your wallet!
Meal prep instead of ordering in
Meal prepping might seem tedious, but it’s a smart way to save money, work on your cooking skills, eat healthier and save time. Eating out can get expensive, and even small purchases here and there can add up quickly (I’m looking at you, Starbucks). Buying and cooking your own food will help reduce your monthly expenses. Simple dishes like soups are delicious, easy to make, and great for saving money. Not convinced? Check out our article all about it here.
Become your own barista
If you buy a coffee a day at $5 per cup, that will end up costing you $1,000 over the school year. I repeat. $1,000. Yes, that fancy Starbucks coffee has a nice aesthetic, but the savings that come with cutting down will probably be nicer in the long run. By making your own coffee at home more often, you’ll save those extra bucks for more essential costs later.
Take advantage of all the student deals
Something that you’ll quickly come to realize if you’re a new student is student deals and free stuff are available almost everywhere. Many companies and events offer discount prices and deals for students. Often, the savings might seem small, but they’re definitely worth it in the long run, so take advantage of them while you can.
If you need a little extra financial help for additional costs that weren’t in your budget, keep reading.
IGNITE has partnered with Humber Advancement and Alumni to provide you with Learning Essentials Support, a financial support service to help cover the cost of your program’s learning essential items like equipment, software, training & professional memberships, field trips, final projects and more. The Winter 2021 application process opens on Jan. 19, 2021.
Because every dollar counts.
In over your head? Don’t be afraid to reach out for help. IGNITE’s Financial Relief Program (FRP) is here.