Wondering how to live frugally as a student? Want to adapt to frugality to have control over your money and spending habits as a youngster?
In my current blog, I’ve come up with effective frugal living tips that have helped and changed my life.
How to Live Frugally as a Student? – 13 Easy Steps
Implement these frugal ideas from now to experience the amazing benefits of frugal living –
1.
Consider Visiting Thrift Stores for Shopping
Thrift stores will help you to save more money. So, whenever you want to buy something then first visit thrift stores in your city.
For example, you can get second-hand books at thrift stores at very low prices.
2.
Use more Public Transportation to Save Money and Be Frugal
Whenever going out with friends, make use of public transportation to avoid unnecessary expenses on private vehicles.
You can also think about carpooling. You and your friends can share a ride and also share expenses.
3.
Make use of Your Student ID to Get Discounts
By using your student ID you can get discounts on many things like library, museum tickets, college canteens, etc.
So, always carry your student ID to avoid paying extra bucks.
4.
Learn New Skills for Free Without Spending Bucks
If you want to learn any new skills as a student then first check the availability of free online courses.
There are many platforms like Coursera, Udemy, etc. You can get many free online courses here that will help you in saving money.
5.
Start Earning Money by Utilizing Your Spare Time as a Student
There are many gigs, freelance work and effective passive income ideas for youngsters. So, as a student start exploring money making opportunities.
For example, you can choose weekends to do freelance work and earn money.
6.
Wait for Clearance Sale to Buy Branded Products
If you have a desire to buy branded things then make sure to check clearance sales to get huge discounts.
Be it branded shoes or clothes, you can get up to 90% discounts during clearance sale. This is how you can be frugal without compromising on your desires.
7.
Sell out The Stuff that You Don’t Need Anymore
At your home you may have many things that you had bought but now you don’t use them. So, just sell those unwanted stuff and get some money.
There are online websites where you can sell second-hand products.
8.
Rent Out Your Things that You Use Less
Renting out things is a good way to earn money and be resourceful. Be it your old textbooks or bike, you can rent them as a student to make some money.
There are websites to rent out bikes and other stuff so you can explore such sites to begin with.
9.
Try to Stay Away from Education Loans as a Student
Just to join an overhyped college or institute, don’t get into debt trap as a student.
Make better choices for you to avoid education loans.
10.
Repurpose Your Old Things by Being Resourceful
You may have a pair of old jeans, you can turn those into a sling bag or a jacket by learning DIY hacks.
So, learn to repurpose the things that you don’t use anymore. This is how you learn to be frugal.
11.
Read Money Related Books that Help You to Manage Your Finance
Read interesting books related to money that help you to understand better about money matters as a student.
For instance, you can read the book Rich Dad Poor Dad to understand how a poor kid became rich. This way you exactly understand where you should spend money and where you shouldn’t.
12.
Avoid Spending Too Much Money on Junk Food
Be mindful when you spend on junk food. Start observing your spending habits when it comes to junk food and eating outside.
Gradually, start to reduce wasting money on junk food. This will not only help you in saving money but also saving your good health.
13.
Follow an Inexpensive Hobby rather than Wasting Money on Entertainment
You may have hobbies like drawing, singing, craft making etc. You can follow these hobbies instead of spending money on very expensive entertainment.
Find your joy and happiness in such hobbies rather than making your pockets empty by spending on entertainment.
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I hope now you have gained clarity about how to live frugally as a student. Practically follow these steps in your own life to make better use of money and resources.