5 Ways for Students to Budget on Electricals and Gadgets
Attending university is important, but it can also come with many unexpected financial stresses. For most students, these four years are the first time they will live on their own and have to pay for their own necessities. These things can add up quickly if you don’t budget in advance. Making sure you have enough extra money set aside will help you afford all of the electronic devices and other gadgets you may need to get through your years at university.
1.Save for a computer
Every university student needs a computer to complete their course work. The type of computer you need to invest in may also depend on what you’re studying. For example, someone learning about graphic design needs different software than someone who is studying business. Be sure to ask in advance what you will need out of a computer to complete your courses.
A computer will last many years. Consider setting money aside each month to save up for a great model. You want to make sure you get everything you need in your computer, so don’t rush this important purchase. Fortunately, if you cannot afford a computer right now, most universities offer computer labs to students. You should take advantage of these free computers until you have enough money to purchase a computer for yourself or buy a laptop on finance.
2.Best deals on course books
Each course you take will expect you to also purchase the correlating books. Many new university students are surprised to learn how much course books cost. This is a huge expense each year. Set money aside when paying your tuition to help cover this cost. You may need to purchase additional books throughout the year, so it’s better to have extra money in savings available.
If your books still cost too much for your budget, there are alternatives. Consider looking online for used copies. Some local bookstores may also sell used course books. If you know someone who previously took the same class, offer to buy their old book from them. In the worst case scenario, scan and print each chapter from a friend.
3.Cut back on food costs
Many university students eat out on a daily basis. This is not financially smart. Food costs add up quickly, and you may find yourself routinely overspending on food. Instead of eating out so much, keep your room stocked with the essentials. Non-perishable foods last almost indefinitely, and there are many healthy options. Try cooking a few nights each week. You can also take turns cooking with a friend to reduce how often you eat out.
4.Save on your commute
Even if you live on campus, you’ll need transportation to get to and from other places, especially if you’re also working. Transportation costs can eat up a large percentage of your monthly budget. Driving your own vehicle requires money for maintenance and gas. Relying on public transit also costs money.
To reduce how much you spend on transportation, consider walking or riding a bicycle if you’re going travelling a short distance. Carpooling with your mates is another way to cut back on your transit expenses. The more people in a carpool, the less money everyone will spend out of pocket.
5.Affordable social activities
Meeting new people is one of the best aspects of university life. Of course, having an active social life is expensive. It costs a lot to go out to different places or nightclubs. You can still live frugally without being antisocial. Instead of meeting your mates at a restaurant or shop, consider hanging out at their flat. This doesn’t cost any money, and you’ll still get to enjoy an active social life during your university years.
Creating and sticking with a budget is a must for all university students. Not only will a firm budget help you survive these four years, but it will also give you the skills needed to live frugally once you leave and begin the next chapter in your life.