Studying can be a wonderful and exciting time for young people. This is a time full of new experiences, and of course you need to find time to learn. Unfortunately, in many cases it can also be expensive – especially for people who study outside their place of residence. For many reasons, students often have to make do on a tight budget. In this post, we discuss selected ways that will help you save while studying. You will also find several offers of part-time work for students.
Is every student poor?
The term “student poor” comes from the fact that students often live on a low standard due to a limited budget. As you know, students are most often young people who are just starting their independent existence and do not have a stable source of income. Some of them are forced to work part-time or as apprentices, which means lower earnings.
Education-related costs can also be high, especially in the case of studies at private or foreign universities. The situation is similar for people studying part-time – they also have to pay for it. Student expenses include: tuition, books, educational materials, housing and food. Not surprisingly, these can be difficult to cover on a severely limited budget.
However, you must also remember that not everyone is the stereotypical poor student. It all depends on the approach, individual situation and capabilities of the person. There are various ways in which you can live quite well as a student.
However, it is worth adding here that not only students are forced to live at a low standard due to limited resources. Many people around the world struggle with similar financial challenges. In addition, it is independent of age or social status.
How to save while studying? – Selected methods
Studies are, above all, a time of intense intellectual development. However, this is also a period when many people start to manage their finances on their own. Many people associate student life with a limited budget and constant belt tightening. However, it is worth remembering that there are ways that will allow us to save effectively. Below we discuss some of the most important ways to save.
Choose a cheaper apartment
Renting an apartment can be the biggest expense for a student. The obvious option is a dorm, but we all know what the conditions are like there. Plus, sharing a room with other students can make it difficult to get some quiet time to study. Don’t want to live in a dormitory?
The second choice may be a small apartment or a studio apartment. In this case, consider whether you need the entire apartment to yourself. Wouldn’t a separate room in an apartment shared with other people be enough for you? This solution would significantly reduce the associated costs. At the same time, you would be guaranteed a place to rest and study in solitude, which is a huge advantage. And not only during the session.
Apply for a scholarship
Nowadays, universities no longer offer only academic scholarships that can be awarded for results. You can apply for a research scholarship if you obtain a minimum grade point average. Its amount depends on the given university, because it is awarded by the rector. In this case, the downside is that only a limited number of students can receive it (due to costs). You must take into account that your application may be rejected.
There are also other types, e.g. a social scholarship, which you can get if your family has a low income. Its amount depends not only on a specific university. The amount of monthly income per family member is also important.
The last type is a scholarship for disabled people. The situation is similar here – the amount of the scholarship depends on the university where you study. This is often influenced by the degree of disability. To obtain them, you must first present a document confirming that you are a disabled person.
Limit going out
House parties are great. You can buy food together with your friends, choosing cheaper products. The same goes for alcohol, which can cost a fortune in a pub. A good solution is also to start the party at home and then (e.g. after the curfew begins) continue it at the club. Thanks to this, you will avoid paying for beer or other alcoholic beverages, and you can dance for free.
A related option is to look for cheap sources of entertainment. There are free attractions in every city, such as parks and museums. There are also often free concerts or exhibitions that are worth taking advantage of.
Buy used things
This applies to practically everything – books needed for classes, clothes and even furniture. Thanks to this, you will be able to save a lot of money. You can spend it later on something that will be more useful.
The best method is to search the Internet – you will find everything you need and more. Very often you can find great deals and buy something in almost perfect condition for pennies.
Take advantage of student discounts
There are many restaurants, cinemas and shops that offer special discounts for students. To use them, just show a valid student ID. The discounts may not be much, but they are always some savings.
Discounts will also come in handy when purchasing a ticket on public transport. You can save a lot by purchasing, for example, a semester ticket, which is intended specifically for students. Student events are also often organized and admission is free.
Limit eating out
Both restaurants and ordering food with delivery are not options for students. It’s better to cook something at home, e.g. in larger quantities to stock up for a few days. This will save you a lot of money.
The same goes for coffee (or drinks in general if you don’t drink it) out. It’s completely not worth it. Calculate how much you spend on coffee per month and you will come to the same conclusion. You can drink it in the morning before leaving the apartment. Another option is to brew coffee in a thermos or a thermal mug and take it with you to university.
Are you looking for ways to start saving on food? Then we recommend this post: How to save money on food?
Control your expenses
It is very important to know what you spend your money on. Thanks to this, you can stick to the budget you have previously set, e.g. based on the previous 3 months.
If you like to have everything at hand, it will be most convenient for you to use a finance management application. If you are a traditionalist, you can of course keep a regular notebook and write down all your expenses in it.
Try to get an additional source of income
There are plenty of job offers for students, so you may choose something for yourself. Think about what type of job you are interested in and start looking through offers. You can choose a part-time or remote job and work wherever you want. This is a very good option for students who mostly have no problems with using a computer.
We will discuss job offers for students later in the article.
How to earn money while studying?
When choosing a job, make sure it is flexible. It’s best if you can adjust your schedule to the university schedule. Also remember that part-time work is a good way to gain professional experience. In addition, it helps develop skills that will be useful in the future.
Giving private lessons
Giving private lessons is one of the most popular forms of part-time work for students. This can be a good way to earn extra money. In addition, it also allows you to develop your skills and gain experience. Moreover, tutoring allows you to improve your interpersonal, communication and pedagogical skills. By helping others learn, you consolidate knowledge yourself.
A good practice is to choose one subject that you are good at. Think carefully about who you will address your offer to – students or apprentices. Depending on the age of your student, you will need to adapt your approach.
Tutoring can be conducted both individually and in groups. Increasingly also online. It is important here to know what rates are currently offered in the market in order to set a competitive price for your services. Just remember that such work requires proper time management. Tutoring must take place outside university classes.
Correction of diploma theses
Proofreading diploma theses is another option for part-time work for a student. This is a great option for people who have high linguistic and editorial competences. The task of a proofreader is to correct errors that have been made by other students in their diploma theses. It focuses on linguistic correctness, i.e. spelling and punctuation errors.
This work requires accuracy, precision and knowledge of the language in which the diploma thesis is written. Many people willingly use proofreading services, thus increasing the chance of obtaining a high grade for their diploma thesis.
Proofreading diploma theses may be a good option for students who value flexibility and freedom in planning their time. It can be performed remotely, which allows you to work from anywhere and at any time of the day. This option is more likely to be chosen by students of humanities.
Creating websites is the third example of part-time work for students. Nowadays, most businesses are moving their operations online. For this purpose, their owners are looking for companies or people who provide services related to the creation of websites.
In this way, students can use their skills and abilities to earn extra money. Of course, provided that they have knowledge of programming and graphic design. They can work as freelancers and accept orders from clients who need a professional website for their business.
Such work allows students to gain experience and develop skills. And also earning money, which is especially important during studies.
Want to find more ideas for making your own money? Check out this article where we discuss how to make money at a young age.
Managing your finances can be difficult, especially when you are a student. However, it is worth remembering that the good financial habits you develop now will help you in the future. We are convinced that they will be useful to you when you start earning your own money.
If you are a student, you will probably also find this article useful: How to save on shopping?