Unfortunately, going to university can be an expensive time when students have very little money to spare. This can lead to many students graduating from university in debt. However, there are many steps that students can take to avoid unnecessary costs and reduce expenditures while at university. Here are some tips on how this can be achieved.
One of the biggest costs for a student is their accommodation. If you live close to your university, the most cost effective way for students to live is to stay at home with their parents. However, in many cases this is not possible, either due to distance, time or family circumstances. Therefore, students will have to look at alternative forms of cheap accommodation while they are studying at university. The first option is to consider university accommodation as this is usually much cheaper than privately owned accommodation. Another option is to house share as this will split living costs with other students.
Often, the cheaper the accommodation, the further you will need to travel to get to university each day. Even if you live close by, you will still need to travel to your part-time job, to visit family and to socialize. It is worth looking into any student travel deals for travel on public transport. It is also well worth getting a bicycle for short distance travel as this is a really cheap way to travel and will also keep you fit.
Groceries are an essential part of life and, therefore, a necessary expenditure. There are ways to limit the amount that this particular expenditure will cost. Collecting coupons, buying in bulk, keeping an eye open for bargains and eating lots of fruit and veg are all excellent ways to save money.
For each year of attending university, a student will require a number of different textbooks relating to their topic. This can be expensive. Two ways to solve this problem are firstly, to buy second hand books, or secondly, to use a textbook rental service. Many of these companies can be found online.
It is all too easy to get into debt while at university. Loans and credit cards seem to be an easy solution to meeting living costs and student fees. However, in the long run, the repayments will be in excess of the original loan amount and these will greatly increase your overall monthly costs. If at all possible, it is best to completely avoid any debts, loans and credit cards. It is much better to budget wisely and reduce living costs than to incur greater debts.