Smart Student Living: 5 Ways to Save Money While in University

This is a practical guide for a student on a Budget

So, you are finally in university or aspiring of going there! maybe you are already there. This blog helps anyone in these categories to manage money most importantly save it.

Saving money does not necessarily mean you hide it, look away, and lock it away, but it is a guide on how to aid you in keeping your money safe and reducing costs, economize.

“If you’re saving, you’re succeeding.” – Steve Burkholder

University is an entirely distinct experience, a transformative one for that matter. This is the most critical phase because it shapes the adult you will become, as well as the small habits that will manifest when you are older. Handling money properly is one of those habits that need to be developed at this stage because now you will be having a student bank card, which will be up to you on how you oversee the money.

It may be challenging to start saving due to the lifestyles we have chosen to indulge in, and with no consequences, we are here to help you every step of the way.

1. Master Budgeting

Making well-calculated decisions goes a long way; I am sure you don’t want to find yourself in a situation where you are desperate. To avoid unnecessary mistakes, you and I need to learn how to create a budget that suits your income as a university student.

Budgeting has always been seen as that word that limits you from spending and having the best things in life. No, that should not be the mindset on this amazing way of handling your finances; think of it more as a way of directing your money once it comes, so that in the end you do not panic due to reckless spending. 

Out of every section in your budget plan, savings are the most important. Before drawing up your expenses, the first thing to do is put a certain amount of money into a savings account, savings pocket, or a fixed account; then and only then can you go ahead. Remember, money here is not to be touched. 

A budget helps to have a great balance between how you spend and save/ invest. Hence it is important to learn the basics of an income statement, cashflow statement as well has known the terminologies. 

Budget sample

3. Cut Costs on Textbooks and Supplies

As a student granted sponsorship by the government of Botswana, you know you get a book allowance. Yes, it is intended for you to buy physical books, but times have evolved. 

The internet has made things much simpler for all of us, access to a vast range of eBooks, past papers, and notes on the course you are studying. The icing on top is that you can find free versions of what you are looking for; now, isn’t that a fantastic way of saving money?

Textbooks can be notoriously expensive, but there are ways to avoid paying full price. Consider alternatives to buying from students taking the same course, only when they aren’t available online.

Sometimes, the best place to go is to your school library, as they have materials relevant to the course you will be taking. 

Also, could you check if your professor has placed required readings on reserve in the library, or if open-source alternatives are available? Little savings here and there add up over the course of your degree, and it is a win-win situation. 

Never hesitate to reach out to seniors who are taking the same course as you for advice; they often know the best sources for affordable course materials or may even lend you their old books.

3. Embrace Affordable Living 

Moving away from your parents to sometimes living by yourself means you must make massive changes in how you do things. If given the opportunity to live on campus, then go ahead, it is the most inexpensive way of living, not so much when it comes to groceries.

In unfortunate circumstances where you aren’t offered on-campus living, then it is best for you. 

• Share an apartment or house with roommates to split rent and utilities. 
• Keep an eye out for student housing, which offers reduced rent. 

It does not just come with living arrangements, but also a lifestyle. Keep in mind that you are a student and not a working individual. So, tone down on expensive ways of living, like becoming impulsive buyers just because you can. 

Be mindful, it is better to save money than use it on meaningless items. 

When searching for a place to live, don’t just think about the monthly rent. Factor in utilities, internet, transportation costs, and proximity to campus. 

4. Find Discounts and Student Deals Everywhere

One of the beauties of being a student is using student discounts to your advantage; it may be a slight reduction from the original price, but a small penny is a worthwhile investment in your future.

As a university student, you’re eligible for an array of discounts. Be sure to use them! Your student card is the golden key to reduced rates. 

Make sure to always ask about student pricing when shopping or dining- it may not be written or displayed for you to see. In every store you enter, look for opportunities to spend less and get more. 

Even if it is not a student discount, any kind of discount should be your best friend. 

Keep a digital or physical folder of your student IDs for easy access when shopping.

5. Cut Unnecessary Spending

Evaluate your spending habits and learn how to prioritize according to needs. Take your monthly budget and see between needs and wants which one takes more of your money. 

Do not be an attention seeker just because you have capital it does not mean unbudgeted money is spent just to impress friends or draw attention. 

Small Changes, Big Results

Saving money as a university student requires vigilance, flexibility, and a willingness to explore creative solutions. The habits you build now will serve you well for years to come, both financially and personally. Whether it’s budgeting carefully, scoring deals on textbooks, every little effort helps you move closer to achieving your goals.

Remember, living well on a student budget isn’t about deprivation—it’s about making smart choices and maximizing the resources at your disposal. Face the challenge, celebrate small victories, and enjoy the journey. Your future self will thank you! 

Frequently Asked Questions

Do I need to budget? My income isn’t much.

Yes, it is an essential part of you. The money may not be much, but at the end of the month, it can all be accounted for, and with the thought that you are on limited money, your priorities enable you to live happily. 

Is it better to live on campus or off campus?

Well, situations differ from person to person, but the best option out there is living on campus, so you're paying both rent and utilities for P380, which is a great deal. Please always make sure you apply for accommodation. 

Is it possible to have friends and spend less?

Finding activities of low cost can always be a solution, and equally contribute with your friends to the activity. It is also imperative to note that going out should not be something that occurs regularly.