5 Ways College Students Living off Campus Can Save Money

How to Save Money While Living Off Campus

1.Budget

Planning ahead is the first and foremost key to saving money effectively. Start saving before you have even left your former abode! If you can’t afford an end of lease cleaner take the time to clean yourself. Fix up any cracks in the walls or stains on the carpet yourself so you get your tenancy bond back and use it for your new off-campus accommodation.

Calculate how much rent, electricity, water, transport and food might cost every week. Factor in entertainment and leisure costs (be realistic!) and make sure you account for any unexpected medical expenses. Take a look at your exam schedules and factor in a lower income for that period, as you may not be able to work as much if you’re studying. Living in shared accommodation with other people is a surefire way to cut rental costs so start thinking about who might be a compatible roommate. 

2. Invest immediately in appliances that will cut costs

You’re not going to cook or clean yourself if you don’t have the facilities to do so. While they may be an expense at the time, good quality cookware and a decent vacuum cleaner will last you years. Buying stock cooking products(rice, pasta, olive oil) and core cleaning products (dishwashing liquid, bleach, kitchen spray) in bulk will save you bucket loads in the long run. Likewise, if you live close to campus invest in a bicycle to save on transport costs. Plus you won’t waste money on a gym membership!

3.Teach yourself to be thrifty

Instead of paying someone else to do things; learn how to do it yourself. A huge (and avoidable) expense for college students is eating out or ordering in. Learning to cook is one of the quickest ways to free up your budget. There are plenty of recipes available online and if you’re missing your Mum’s famous chicken pie then call her for the recipeand make it yourself! Avoid handyman costs by learning how to fix and repair things around your home yourself. If you can’t do it; someone on YouTube can.

4. Become an opportunist

Actively seek out opportunities to save on both education and leisure expenses. Check whether you are eligible for any scholarships, grants or governmental assistance. Enter competitions to win concert tickets, look up what night your local cinema has discount tickets, keep an eye out for free festivals and of course; always have pre-drinks at home!

5. Don’t stop saving!

When you have finished your degree and you are coming to the end of your lease don’t stop saving money then.Save money on a removalist by asking some muscly friends to help you relocate! Just because you have spent four years analyzing the fine nuances of English literature doesn’t necessarily mean you will be offered a job the moment you graduate. Keep all these tools in your thrifty tool-kit and use them in your post-graduate journey!

Image Credit via Accurate Leads