student budget

Are you struggling to save money or to simply make ends meet on a shoe-string, student budget? We’ve got some simple solutions to that hole in your pocket this month that are sure to help you live smartly:

  1. Don’t underestimate the Excel Spreadsheet!

Draw up a trusty Excel spreadsheet and in one column outline your projected expenses for the month. In the other, outline your current income. Auto-sum both columns and then ascertain how much is remaining and how much of this you can effectively save.

  1. Track your withdrawals and balances

Make a habit if only drawing the cash that you need from the ATM. The more cash you draw the more you will feel like you have to blow and you’ll only end up with a massive hole in your pocket. In this regard, it’s wise to activate online banking and to consistently check your statements and balances.

  1. Find part-time work to supplement your income

If your income falls short of your expenses or you simply feel that you aren’t saving enough, it may be time consider casual employment to cover your bases. If you write well, look for part-time copy-editing and writing jobs online. Loads of companies need blog work done. Advertise your services on Gumtree.  How about a casual waiting or bartending job at a restaurant near you? You could make some good tips and meet new people.

  1. Specials, deals, discounts galore!

Look out for specials at your local grocery shop. Pick ‘n Pay and Checkers are always offering super savings. Better yet: buy in bulk – your items will last longer and stretch further. Browse online sites like Groupon or Deals 4 Me and don’t neglect those two-for-one burger specials at Spur!

  1. Sell unwanted possessions

Did you know that Amazon buys second-hand textbooks? Well now you do. Put up a notice in your University Library or relevant department advertising your old textbooks and their discounted prices. You’re sure to get great feedback from other students in need. Why not spring clean your dorm room and have a yard sale while you’re at it?

  1. Share living costs with your housemates/ fellow residents

Do you struggle to keep your space clean with your busy study/work schedule? Hiring help can be inexpensive if you split the bill between several housemates or fellow residents. The same applies to meals. Why not eat supper together and designate weeknights for different people to cook and budget for R150 to R200 per meal. If there are five of you, you’ll end up spending R200 a week for your suppers (excluding weekends).

There you have is folks! Get smart and get saving.

Park Central Lifestyle.