{"id":53,"date":"2019-08-10T12:43:12","date_gmt":"2019-08-10T12:43:12","guid":{"rendered":"http:\/\/xostudentdiscounts.co.uk\/blog\/?p=53"},"modified":"2019-09-30T12:26:47","modified_gmt":"2019-09-30T12:26:47","slug":"top-money-saving-tips-for-students","status":"publish","type":"post","link":"https:\/\/xostudentdiscounts.co.uk\/blog\/top-money-saving-tips-for-students\/","title":{"rendered":"Top Money Saving Tips for Students"},"content":{"rendered":"<p>Saving is the act of putting something aside, most times money, over a particular period for a specific purpose.\u00a0Interestingly, many people who save do so without a definite and concrete plan. Without a plan and a high level of self-discipline,\u00a0saving\u00a0money can be very difficult. In the 21st\u00a0century economy, one of the things we are starting to come to terms with is that\u00a0saving\u00a0is not limited to liquid cash or currency.\u00a0It includes\u00a0anything that can be accepted as a means of exchange or that can be used as a means of measuring value.<\/p>\n<p>Many students find it difficult to save\u00a0mainly\u00a0because of two things: it is either because their allowances are barely enough to cater\u00a0for\u00a0their needs, or\u00a0they simply lack the will (and consequently the right plan) to save. Whatever financial obligation you have to meet, a clear understanding of savings and what it entails will help you in your bid to save and plan for rainy days.\u00a0Here are some of the reasons why you should save money, even as a student.<\/p>\n<ul>\n<li><strong>Emergency:<\/strong> savings help to take care of emergency spending that could arise from unforeseen occurrences.\u00a0For example, it could be sudden health issues, accommodation issues or an unplanned trip.<\/li>\n<li><strong>Long term saving for bigger projects: <\/strong>savings make it possible to purchase seemingly expensive things that, given normal circumstances, your allowances might not be able to cover.\u00a0Things like textbooks, accommodation\u00a0expenses and some other student needs.<\/li>\n<li><strong>To pay yourself:<\/strong> as part of your income is yours to keep, savings help you to pay yourself.\u00a0After paying so many bills, it is also important to pay yourself. This is, however, not possible when you do not have any money left. To avoid\u00a0this, saving a part of your income makes a percentage of it available for you.<\/li>\n<li><strong>To harness opportunities as they come: <\/strong>these opportunities may include investment or professional training\u00a0opportunities which may arise at any time.<\/li>\n<\/ul>\n<p>Yes!\u00a0Saving money can be difficult, especially when you have\u00a0so many bills to pay. However, considering the important points noted above, we can\u00a0conclude that\u00a0saving is a necessary part of our daily lives that we need to pay close attention to,\u00a0no matter how difficult it may seem.<\/p>\n<h2>How to save money as a student<\/h2>\n<ol>\n<li><strong>Track your allowances:<\/strong> as a student, you must keep a record of all your allowances expected in a particular period, maybe in a month or a week.\u00a0Knowing this will help you to\u00a0wisely\u00a0allocate your allowances to your expenses.\u00a0Get to know the sources of your allowances.\u00a0You should also know how consistent your allowances are and if there are prospects for an increase.<\/li>\n<li><strong>Earn more money:\u00a0<\/strong>savings becomes easier when there is more money available to you.\u00a0Therefore, efforts can be made to earn more money.\u00a0As students, there are so many part-time job\u00a0opportunities you can take and most of them wouldn\u2019t affect your schooling. This includes\u00a0freelancing, marketing, paid internships\u00a0and working in sales.\u00a0Earning more to save\u00a0is one of the basic but surest strategies.<\/li>\n<li><strong>Create a budget: <\/strong>a budget is a list of all proposed expenditure for a particular time, based on expected\u00a0income for that period.\u00a0To save, a student must have a budget that he or she strictly keeps to and allows for flexibility only when it is necessary.\u00a0In preparing a budget, savings must be included as an integral part. You\u00a0should\u00a0track down your expenses and ensure that it covers things that are your essential needs rather than mere\u00a0wants.<\/li>\n<li><strong>Create a savings plan<\/strong>:\u00a0these days, there are\u00a0different types of savings plans you can try out and most of them are designed to be student friendly.\u00a0These\u00a0savings plans help students save with discipline. Usually, you should have a separate account into which you can put aside some money. These days there are a lot of apps and tools for this. These platforms are usually very safe and, most times, you could even earn a little interest on the money saved.\u00a0Many of the online saving platforms also deduct a fixed amount automatically from the students&#8217; account to be saved.\u00a0This way you don\u2019t have to worry about putting the money into the account yourself.<\/li>\n<li><strong>Ignore the joneses:<\/strong> to save, there is a need to be financially disciplined.\u00a0Discipline is required to stick to the budget and avoid impulse buying.\u00a0Ignoring the joneses is simply not spending on something just because other people are spending on it.\u00a0You will need to learn this and keep it to heart if you are able to save successfully.\u00a0\u00a0Buying something because everyone else is buying it will lead to overspending and debt, thereby, leaving you with nothing to save.\u00a0You must ensure that you always stick to your budget.<\/li>\n<li><strong>Buying in bulk: <\/strong>this has proved to be one of the most effective ways to save money as a student.\u00a0Most students think buying in bulk costs more; maybe because much will be spent at one time.\u00a0Buying in bulk helps you to save up what might have been spent on buying things over time.<\/li>\n<li><strong>Avoid eating out as much as you can<\/strong>: students love to eat out, but this costs quite a bit of money. By buying your own food and cooking it yourself, you save so much that would have been spent in a restaurant. You can cook big meals, consume some and store others in a fridge or freezer for another day \u2013 saving even more money.<\/li>\n<\/ol>\n<h3>Conclusion<\/h3>\n<p>Saving money is\u00a0important, but we must note that instead of saving money, an equally smart move is to invest and try to earn more. \u00a0So, instead of simply leaving the money in the savings account, investing in a profitable and sure venture can be a wise move.\u00a0Of course, either move requires a lot of discipline, wisdom and strategic planning.<\/p>\n<p>Good luck with your savings!<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Saving is the act of putting something aside, most times money, over a particular period for a specific purpose.\u00a0Interestingly, many people who save do so without a definite and concrete plan. Without a plan and a high level of self-discipline,\u00a0saving\u00a0money can be very difficult. In the 21st\u00a0century economy, one of the things we are starting &hellip; <a href=\"https:\/\/xostudentdiscounts.co.uk\/blog\/top-money-saving-tips-for-students\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Top Money Saving Tips for Students&#8221;<\/span><\/a><!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":54,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/posts\/53"}],"collection":[{"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=53"}],"version-history":[{"count":3,"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/posts\/53\/revisions"}],"predecessor-version":[{"id":139,"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/posts\/53\/revisions\/139"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/media\/54"}],"wp:attachment":[{"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=53"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=53"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xostudentdiscounts.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=53"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}