7 must-know tips to save money for students

Trying to save money and minimise costs while studying? Saving money can be a lot easier than you think, especially if you don’t mind living a bit more frugally. You’ll find that there are many aspects of your life that you can save on, from food to accommodation to daily travel. Learn a few tips and tricks and save some money while embarking on student life below.

1. Grow your own food

One great way to save money as a student is to grow your own food. Whether you’ve got your own garden outside or only have a bit of indoor space to work with, growing food is easier than you might think. It’s especially simple to grow your everyday vegetables and herbs, even with minimal sunlight and pot space in your home.

You can grow vegetables such as green onions, lettuce, and celery from scraps. All you have to do is soak the scrap bottoms in water and place them in sunlight and you’ll have freshly grown vegetables in no time. If you have a bit of money saved and want to invest in your home garden long-term, you might also want to consider getting a DIY indoor growth kit where you can grow herbs like coriander, mint or rosemary or chillis, and other salad greens like kale and spinach in your home.

2. Cook and meal-prep

In the same vein as growing your own food, another key money saving tip is cooking and meal-prepping from home. Rather than spending money eating out and on takeaway, buying fresh groceries and cooking in bulk is not only cheaper but probably healthier for you as well. 

Simple meals such as pasta and salad, stir-fried vegetable noodles, and beef stew are not only nutritious (of course, depending on the ingredients you use), but also easy to cook in bulk and freeze for later mealtimes. This way, you can save on both money and time – and we all know how precious your time can be.

Meal-prepping and cooking meals in large batches may also help you reduce food waste. Planning portions and freezing meals will ensure you don’t throw away any food after eating, while also helping control the nutritional balance of the food you enjoy daily. 

3. Live with roommates

Accommodation costs make up a hefty portion of your daily living expenses, and one way to save money on your living situation is to split the cost with roommates. If you’re a student, you’ve got a few accommodation options to consider including school dorms, local share-houses, and even simply renting an apartment with a few friends or acquaintances.

Your housing situation largely depends on your individual preferences and budget. To give you a brief breakdown, share-houses are usually quite affordable but may lack privacy. In contrast, living with friends may be more fun and comfortable, but also more expensive. Dorms offer the advantage of being physically close to your campus, however usually cost more than share-house-living as extra services such as canteen foods and security may be included. Either way, living with others is often cheaper than living alone and is a sure-fire way to help you save money.

4. Buy in bulk

Bulk-buying is another great method for you to save money as the cost of multiple items is usually cheaper than purchasing one single unit. This is the case in most supermarkets and grocers, as multiple units of food are often bundled at cheaper prices than single units.

For example, purchasing a 2kg packet of sugar can be cheaper per 500g than buying a singular 500g packet of sugar. Bulk-buying can also help you save by reducing the amount of time you have to spend going shopping, and instead more time at a part-time job or simply studying.

However, the one caveat to bulk-buying is the risk of waste. Before bulk-buying, it’s important to work out how you can use all your supplies in a timely manner or split them with others. Bulk-buying is especially beneficial if you’re living with roommates as it’ll be easier to share your purchases.

5. Catch public transport

Owning and driving your own vehicle can get expensive fast, especially when you take into account ongoing maintenance and insurance costs in addition to the original price of the vehicle. Paying for parking wherever you go can also add up quick.

One way to avoid all these extra costs and minimise your spending is to catch public transport. Whether it’s a train, bus, or ferry, chances are that catching one will be cheaper than driving your own private vehicle (factoring in parking and fuel costs). Not only that but catching public transport is also more environmentally friendly when compared with driving alone as it reduces annual greenhouse gas emissions as well as congestion on the roads.

Keep in mind that there are waiting times and a certain degree of unreliability when it comes to catching public transport. Buses can get cancelled due to staff shortages and trains may be delayed depending on weather conditions. As a result, it’s always a good idea to plan ahead and account for any delays that might occur so you can make it to your classes, student meetings, and exams on time.

6. Go thrifting

Second-hand goods are often much cheaper than their brand-new alternatives. Even better, you can thrift and save money on many different types of goods while enjoying some unique finds – from clothes and jewellery to furniture and ornaments. Thrifting also provides you with the opportunity to experiment and work on your DIY projects at a low cost, with cheap clothing items great for altering and furniture that you can repaint to your heart’s content.

In Australia, you can go thrifting at stores funded by charity organisations such as Red Cross, Vinnies, and Salvos Stores. Not only can you purchase top-notch items for a fraction of the price, but you can also support sustainability and charity initiatives by purchasing from these stores. Go thrifting, purchase affordable items, and enjoy all the preloved goods you can get now and well beyond student life.

7. Use student discounts

Most companies offer students exclusive discounts and coupons to encourage purchasing on a smaller budget. From everyday expenses like transport, mobile plans, and food to nonessential entertainment costs like streaming subscriptions and outdoor events, you can use a student discount for pretty much everything.

Find student discounts and coupons by either searching on the website you’re planning on purchasing from, or through third-party platforms that offer different kinds of discount bundles to registered students. These sites allow you to download coupons and discount codes that you can later use during checkout with certain partnered brands. Student discounts will help you save money in the long run and might even introduce you to some budget-friendly brands for your everyday shopping.

Find out how to prepare for university from school or as an international student about to start tertiary studies in Australia  and get tips for OWeek.

Want to get more productive? Check out our articles on productivity apps and best tech for uni students.

Get into student life with some campus themed movies like Legally Blonde on Prime Video via Optus SubHub.

If you’re coming to Australia to study Optus has you covered with our great range of mobile and internet services.

Check out our student hub for super student savings on selected SIM plans and 4G Home internet, available to tertiary students with a valid student ID. The phones and tablets on our month-to-month plans (excluding Prepaid) are also available for you to pay off over time, helping to ease the cost of new technology. T&Cs apply.