5 budget hacks for the savvy student
Create a budget
You can't get on top of your budget if you don't have one! Getting started is simple:
- Determine how much you spend during an average month. This聽includes everything from your Netflix subscription to your rent and utility bills.
- Determine your income during an average month. This could include your salary from a part-time or casual job, and government allowances.听Make sure you focus on your net income (the actual amount after tax and super is deducted).
- Determine your savings.聽Subtract your average monthly spending from your average monthly income. What鈥檚 left is your savings. If the difference between your spending and earnings are slim,聽consider ways you can聽cut back on聽variable costs (such as groceries, entertainment).
- Set a savings goal.聽Once you鈥檝e determined your savings, set up an achievable savings goal. This can be in the form of weekly, fortnightly or monthly聽savings聽targets.
Discounts!
As a university student, you鈥檙e entitled to discounts for a range of products and services. Check out student discount websites such as聽聽for discounts on technology, health & fitness and food, and聽聽for discounts on textbooks and notes.听
While you鈥檙e enrolled at the University, you鈥檒l have聽聽such as Adobe Design Premium CS6 and Microsoft Office. You also may be eligible to聽, giving you cheaper public transit fares.听
Cook at home聽
Are all those UberEATS orders adding up?聽Try cooking at home,聽it鈥檚 cheaper and healthier. Make sure to follow these tips when grocery shopping:
- Take a shopping list.聽This will save you forgetting and buying things you don鈥檛 need.听
Buy in bulk.聽Bulk buying produce can be far cheaper than buying single items. Take advantage of buying in bulk by portioning meals in advance to store or freeze. This鈥檒l come in handy聽during exam season when you may not have time to cook every night.
Have a snack before shopping.聽It may seem silly,聽but when you鈥檙e not hungry聽you tend to buy less food.听Keep a stash of granola bars or popcorn at home for future grocery trips.听
If cooking is not your strong suit, join聽聽for $45 and receive 10% off food and retail outlets across campus all year round.
If you鈥檙e on campus for a late-night class or study session, head to Abercrombie Caf茅 or Coffee @ Fisher to take advantage of the USU鈥檚 $6 After 6pm program. Even better, if you鈥檙e a USU Rewards member you can get every 7th聽meal free!聽
Why not save money and help save the world at the same time? The USU has recently partnered with聽聽to offer end-of-the-day specials at USU outlets, which not only gives you up to 70% off retail price, but helps cut down on waste too.
Join a club or society
Want to have fun on a night out but not break the budget? Take advantage of cheap social events and activities by聽.听
All you鈥檒l need to join is a聽, which you can sign up for free during Welcome Week or online at any time.听
Ask for聽support
The Australian government website聽聽has lots of financial information and advice, including聽.听
If you need extra financial assistance, the University鈥檚聽聽is here to help.听
