Two-minute noodles for every meal and searching the couch for spare change are a reality most students will be familiar with, and as the cost of living continues to climb, students need to be even savvier when it comes to stretching their rands through the month.
While living on limited funds can be a challenge, especially under tough economic circumstances, it’s important to remember that it’s not always about how much you have, but how you use it. Here are a few clever ways students can stick within their budgets and save money for the things that matter most.
1. Transform the struggle meal
Take a simple bowl of noodles from ‘meh’ to marvellous by adding a few inexpensive yet nutritious and delicious ingredients you can find at your local supermarket. You can often find a range veggies and proteins at reduced prices – these items are often simply approaching their sell-by dates and need to be sold quickly but are still perfectly edible. Never throw away those complimentary condiment packets that come with your favourite takeout – these can be used in a pinch to add flavour and dimension to your dishes when you don’t have spices or stocks on hand.
2. Look for student specials
One of the greatest perks of being a student is being able to access student discounts. You can pay less for everything from movie and concert tickets to shoes and clothes from sites like Superbalist. South African students also have access to Varsity Vibe, a student discount app that is exclusive to students on campuses, allowing anyone with a valid student number to get their hands on clothing, food, and transport discount vouchers for a monthly fee. Taking advantage of student resources like these can save students a lot of money at the end of a long month.
3. Buy second hand
There’s no need to go into even more student debt buying the things you need at retail prices. Savvy students frequent online classifieds like Gumtree for everything from top-of-the-line laptops, tablets, and smartphones, as well as textbooks and even homeware like appliances, furniture, and curtains to kit out their digs or res rooms as stylishly as they want on a budget. Buying second-hand, pre-loved and gently used goods is an easy way to save thousands of rands on student life necessities.
4. Sharing is caring (and smart)
A smart way to save money is to shop for bulk deals with roommates, friends, and family members who typically buy the same grocery, cleaning, and toiletry items as you. Buy items like fresh produce, toilet paper, household cleaning products and pantry staples like rice and pasta in larger amounts as this will drastically cut down on monthly expenses – keep a lookout for specials at your local supermarket or cash and carry store. If you have a car, consider starting a lift club or carpool with other students to avoid petrol costs.
5. Live within your means
Draw up a budget statement that details all your expected income and expenditure amounts for the month, being sure to make provisions for other necessities like savings and rainy day or emergency funds, even if these are small amounts of money each month. A budget will help you to avoid spending too much money on things you don’t need so that you don’t end up broke before the month is up. It’s also a good way to prepare yourself for the ‘real world’ one day soon, where budgeting can save you from the stress of financial challenges and landing up in a mountain of debt.
The savviest students are those who are disciplined when it comes to spending and saving, and who aren’t afraid to hunt for bargains to make their money stretch further through the month. Living frugally doesn’t have to be a constant struggle that leaves you mentally and emotionally exhausted by the end of every month, either – with a few simple lifestyle tweaks and adjustments, students can live more comfortably on a limited budget.
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