Budgeting

Four Tips for Students on a Tight Budget to Save Money

Student budgets can be tight, to the point where there’s only single digits left in the bank at the end of every month. There are ways to save a few dollars when living on a tight student budget, though. Here are 4 useful tips to stretch the budget:

1. Buy used textbooks

Textbooks can be a major expense. Always buy used if you can, they will be significantly cheaper. Scout around online for significant deals. One good source is StudentVIP is Australia’s largest university student website, providing 898,746 students with access to the biggest secondhand textbook market, plenty of amazing tutors, lots of subject ratings and reviews and more.

At the end of the term, if you don’t think you will need the book again, you can resell it for extra cash to put toward next semester’s texts!

2. For no fees, visit your bank!

Make sure your bank knows you are a student! Most of the major banks in Australia offer fee free banking and other discounts to full time students. You can save a good amount over a term by choosing the least-expensive option that fits your needs.

And if your course lasts for more than a year, be sure to update your student information with them at the start of each year to continue receiving your student benefits.

3. Find inexpensive commute methods

Commuting to and from school can add up as well. Are there cheaper options you could use, at least some of the time? Could you walk rather than take a bus, at least some of the time? Bike rather than use your car? Carpool? Parking fees and congestion mean carpooling could save you more than just fuel money!

4. Make second hand store finds part of your life

Whether you need a desk, chairs, or some clothes, check the community for stores that sell used goods. There is a real difference in price, and there are gently used items virtually the same as new. Learn to enjoy the fun of searching through stores for unique items rather than decorating or looking like everyone else. Online providers such as Gumtree and Trading Post can also see your way to significant savings.

We understand that you may need some quick cash for various reasons. Sometimes, it is for the out of pocket expenses and at other times it is to manage the extra amounts needed when applying for various educational institutes. If you are in need of a small personal loan and meet our lending criteria, we can help. Contact us if you have any questions.