Financial Tips for Students

Staying within a budget, especially your limited student budget, can be incredibly challenging, but we’re here to help! Below are a few tips on how to maximize your finances:

1. Student Discount:

Take advantage of your student discount!! Many stores, restaurants and service providers offer excellent discounts and/or offers for students but do not publicize it. If you can’t see a sign, don’t be afraid to ask and always carry around your student ID! Additionally, Amazon, as well as many other online retailers and bookstores, offer student accounts, with massive discounts and offers, that are free to sign up for. If you are moving to the UK or the US, you can log in to Unidays using your student account, which will give you discounts and vouchers to a variety of retailers around the country.

2. Textbooks:

Textbooks can be incredibly expensive, and for many they are only used within one or two semesters and as such, many students look for ways to reduce that cost. Some universities have a re-selling system by which old students can sell their used books to new students in particular classes. Check with your department and/or library to see if they have that particular scheme, as in most cases, the books are in excellent condition and are quite cheap. You can also find used textbooks on Amazon, as well as in used bookstores in your city. If you don’t need a hardcopy, many textbooks are available in e-book format, which is usually significantly cheaper. Some universities also have e-book versions in their libraries, which are free to download.

3. Food and Drinks:

The top tip for reducing your food budget is very simple: make your own food. This is not only cheaper but is also healthier, and with the internet full of recipes from all around the world, you can be as creative as you’d like! If cooking is not your thing, your student discount will come in handy here, as many restaurants and coffee chains offer discounts upon presenting your student ID. Apps such as Deliveroo and Uber Eats also offer discounted student memberships, which can eliminate those pesky delivery costs that add up with every order. Additionally, if you’re a caffeine lover, invest in a tumbler and/or a reusable cup. Not only is this friendlier for the environment, many coffee and tea chains around the globe now offer discounts if you bring in your own cup, which will result in large savings in the long run.

4. Book Everything Early

First and foremost, if you plan on traveling, make sure you book your flight or train tickets as early as possible. Most providers offer massive early-bird discounts for trips booked a month or more in advance, with many also coming with flexibility to change dates or times. As travel costs tend to be the highest for students, this is the best way to ensure that you stay within your budget. Some events, such as theater shows, cinema showings, etc. also offer early bird rates, which you can take advantage of. Alternatively, depending on your city of study, some theaters and cinemas offer weekly sweepstakes that you can enter, in which you can win free or incredibly discounted tickets to certain showings. 

Mahi is always happy to help you stick to your budget. Don’t hesitate to contact us on our hotline for more details!