The University of British Columbia in Vancouver, Canada, has created a list of tips and advice on how to save money as a student in Vancouver. How useful it is for a student in Moscow is an interesting question. It turns out that you can save money by changing your approach to spending and managing your budget properly.
So, a list of recommendations for students:
Create a spreadsheet and compare your income and expenses for the next year. Make sure you are saving money each month.
If you are in deficit (expenses exceed income), you need to think about how to cut your expenses or increase your monthly income.
Visit UBC’s financial planning page for helpful resources on budgeting, including a worksheet on budgeting basics and a budget planner. There’s also a handy online cost calculator that you can check.
Write down every purchase you make. Simply keeping track of what you spend can help you notice patterns, become more aware of where your money is going, and help you determine if you need to make changes.
It seems simple, but you will be surprised at your ability to rationalize certain spending decisions. Saving money by buying only what you need gives you more flexibility in your budget in the long run.
Making a budget is the easy part. Next, you need to put it into action. But remember: a budget is not a permanent thing. On the contrary, it should be dynamic. So update when things change.
While we all know that money doesn’t grow on trees, there are a surprising number of places where you can get it for free. Apply for scholarships, contests, grants or find a job. You could use write my essay service and save some extra time for that.
Do not pay tuition or rent by credit card, as a 1.75% fee is added to the total amount. For tuition of $3,000, that’s an extra $30.
Use another method of payment such as a bank transfer or check.
If you live in your apartment, you can eat in dining halls that have a 25% student discount. You can also get a 5% discount when you use “meal dollars” (a balance account to pay at all cafes and dining halls of the university).
Buy used textbooks from other students. The University bookstores even has a rental program for some books. Also, be sure to check Amazon for some great deals.
When you finish your textbook course, sell it back to the UBC bookstore or try to find a new student who needs it.
Aside from rent, the biggest monthly expense most likely includes food. While eating out is the easiest option, it’s also the most expensive. Adopting a do-it-yourself approach to food consumption is a smart way to save money and improve your cooking skills.
Limiting the number of times you eat out each month can save you a lot of money. Cook at home, pack food in containers that you can take with you and reheat at one of the food outlets (on campus) that has a microwave.
Wholesale shopping will help you get the most out of every purchase. Do grocery runs with friends and buy family packages.
When you plan your meals for the week ahead, you know exactly what ingredients you need to buy. Make a shopping list and shop strategically. Buy only what you need.
If you buy $3 a cup of coffee a day, it will cost you $600 during the school year.
Instead, buy coffee beans in bulk and make your own. Buy a mug and take it with you to campus to warm your coffee.
Get as many coupons as you can and use them to reduce your grocery bill.
This deserves repetition: distinguish between what you need and what you want. If you want to spend money on a “want,” check your budget first and see if you can afford it.
Don’t make buying decisions on the spot without thinking about the consequences.
The Dollar Store chain of fixed-price stores is a student’s first destination, with home goods, school supplies and more. The thrift stores are great for used clothing.
This speaks for itself. Whether it’s food, medicine, toiletries or home goods, choose the cheaper generic option rather than the top brands. A generic is a product that has no brand name, is not advertised, has cheap packaging, and is sold at prices lower than a similar product from a well-known company.
Although many stores offer student discounts, these offers are not always advertised. Don’t be afraid to ask a store employee. Have your student ID ready. Ask and (sometimes) you will get a discount.
Go for a hike, bike ride, sightseeing, or walk in the park. A list of 25 free activities in Vancouver.
As a student, you get free access or significant discounts when you visit a number of facilities, including different centers , museums, galleries etc.
Use website like Rebaid where you can get many many products for free. You just need to claim the deal and submit the order number on the website. You will receive the checks for your rebate after few days.
Don’t be afraid to ask for help.
Often students avoid contacting people who can help them before it’s too late and they already have financial problems. Avoid it. If you don’t have enough money, ask people around you for help, let your family know. Ask your parents or grandparents to send you money or get a loan.