How to survive your student lifestyle financially

Many will have very fond memories of their student life, of living on 2 minute noodles and red bull while studying for major exams. While the so called student life can be a wonderful experience, it can be tough to keep to a budget as well, especially when your social life enters the picture.

Here follows some practical tips to follow in order to survive your student life financially.

Investigate your options of extra funding

Every university offers student loans, bursaries and scholarships to those students who meet their requirements and standards. Do your research in advance and find out what you need in order to qualify for one of these options.

You can also keep an eye out for companies providing internships and who are willing to pay for a part of your education at university.

Avoid takeaways and cook your food

Cooking your own food is not only cheaper but healthier as well. When you cook food you can usually cook larger portions which you can then store for lunch throughout the week. If you are staying with a roommate, which would financially make more sense, take it in turns to cook.

Here’s a simple example. You can buy a small packet of minced meat and bread rolls at the same price as a large burger meal. From this single packet of minced meat, you can make homemade burger patties for yourself, your roommate and your boyfriend or girlfriend. You get around three or sometimes more meals for the price of one takeaway.

While food shopping, keep an eye out for bulk specials and coupons.

Get a part-time job

If your study time allows it, and you feel you will be able to take on a part-time job without putting too much pressure on yourself, then go for it. There are numerous job opportunities for students such as becoming a waiter, cashier, bartender, grading tests or even open gigs for up and coming bands.

The extra cash you earn will go a long way in relieving some of the financial pressure. Try to start saving some of the cash you earn where possible.

Buy second hand books

Students often have to dole out hundreds of rands for a new handbook when there is a perfectly adequate second hand option available at a cheaper price. Go online and look for second hand books or inquire on campus. This will save you a lot of money.

Carpool

It has never made sense driving to campus on your own when you can take a few roommates along for the ride. The more people sharing a ride, the more everyone will save on petrol and gas emissions being released in the environment.

Depending on how close you live to the campus and how safe it is, you can consider taking a bicycle to class or walking. You will be saving money and exercising at the same time meaning you save even more by not having to join a gym.

Try to enjoy your student life and focus on what’s important, studying and passing. Why don’t you share some tips on how to survive the student life financially with us?