University S.W.A.G. (Save While Attaining Goals)

Ballin’ on a Budget

Yes, the title was stolen from here. In my previous blog, I explained how one can survive a semester in university and achieve great grades. Today, we’ll explore how one can survive on the generally frugal, tight, menial, limited budget of a university student.

No tax + coupons = Super Savings!!

1. Do you need this? That is the first step to spending money. Is the item something you need? If so, you should make an effort to get it. (This does not include the latest fashion, cell phone, tattoo or shoes).
2. Budget. It’s that simple. Draw up a plan and include all sources of income. List monthly needs first (bills, groceries, school supplies) and make that a permanent item on your budget. Pay your bills on time to avoid interest and late payment fees. This money is not to be touched for any other purpose. Then add your miscellaneous items and save the rest for a rainy day.
3. Coupons. If you have access to coupons, use them. In Atlantic Canada we have [some] tax-free weekends (Fri & Sat) and 10% Tuesdays (with student ID). I give these people a run for their buck when I pop in on a weekend with my coupons. This also helps you to stock up, so you don’t run out of much needed items every month. I’ve saved as much as

   

   Coupons help a great deal!!

   
   

   $63 on groceries before in one trip. This works!!
4. Sale days. You have clothes. You don’t need to shop every weekend. Wait for days that they have sales; hunt online for coupons of some of the stores and use the coupons on the sale days. Trust me, it’s worth it!!
5. Partying. Are you a party-goer? Sure you are! Include parties in your budget. That way, you won’t overspend and end up broke Monday morning.
6. Prepare lunches for school (learn to cook, too!). I know. It sounds tedious… inconvenient even. But picture this: A meal cost on average 7-10 bucks. If you’re at school all day, you may need to eat twice. That’s 20 bucks. You could purchase bread, some deli meat, chicken, pasta and some orange juice with that $20. You could make at least 3 days’ meal with the items listed (you gotta get creative)!

   

   Stock up for that rainy day!!

   
   

7. Purchase course materials online. Books are cheaper online. It’s as simple as that. Do you need a new book (only to get that “new book” smell)? Consider purchasing a used book from a large distributer or your local online book store. It works out cheaper in my case and I’m able to resell the material at a matched price (WIN!!!).

For my readers in Jamaica who do not benefit from coupons or sale days, I would recommend using the wholesales. Same items; less money. Shop around. Find different stores and compare prices. Oftentimes, brand name stores cost more than the local grocer.

I have saved a lot in the past school year, and with these simple tips, I’m sure you can too!

Have a great, successful (and frugal) school year JGIC fans!!

“Having money when needed is a balm to the mind.” ~JGIC

 

Jodi-Ann is an Environmental Studies major in Nova Scotia, Canada.