Pro Tips For Saving While At Uni So You’re Not Struggletown’s Newest Resident

You learn a lot during uni, it’s kind of the whole point. Much of what young adults learn during this time is based around money, or a lack thereof. PEDESTRIAN.TV has partnered with CommBank because they’re helping students be a little more free financially with their exclusive discounts called Student Options. It gives students a helping hand to save a bit of money while your nose is in the books. CommBank’s also giving away $10,000 just for being on Student Options. For more info, head to CommBank’s website HERE.

The funny thing about being a student is that you don’t have much time to work a job, but you’re provided with plenty of opportunities to spend money. If you’re not careful, you can be dropping money left, right and centre as soon as you step foot on campus – limiting your odds of saving for your next trip or a new car. Don’t fret though, there’s plenty of ways to become a better saver and make your long-term goals a reality. 

Here’s a few tips we’ve compiled to aid in setting aside some cash effectively. 
Look at savings in the same way you’d look at your rent or phone bill. Viewing the money you’re setting aside as an expense can help you perceive it as a mandatory deduction from your income, making it easier to part ways with it in the moment. 
Paying bills and rent when it’s due will:
a) Let you keep track of how much money you have for the week/fortnight/month.
b) Help you avoid late payment charges.
c) Build a healthy credit rating.
Making a budget – and more importantly, sticking to it – is incremental to becoming a solid saver. Without one, you can find yourself confused as to where your money is going.
After reviewing your statements and paying your bills on time, you’re now in an informed position to be realistic about your expenses. Knowing how much you’ll be left with per month will dictate how much, and how frequently, you add to your savings kitty. Be honest, guys – don’t kid yourself into thinking you’ll cut $50 of your food budget when you’re not going to be able resist your Friday night pizza ritual. To get a taste of what a budget planner looks like, head HERE.
You’d be surprised how many restaurants, bars, banks and on-campus establishments offer discounts to students. There’s a common misconception that when saving as a student, you’re going to have to sacrifice your social life. However, review your guild’s calendar for upcoming events and you’ll find plenty of offerings for free or next-to-nothing. 
Places like cinemas provide discounts for students as well, so do your research and start channeling the money you’re saving into your account. 
There’s a lot of elements in our lives which we’d be a lot happier without, including unnecessary costs. To funnel more money into your savings, here’s a few costs that you can axe: 
Lunch & Snacks
A sandwich made with a bit of TLC can be just as appetising as freshly prepared sushi – don’t fork out on lunch when you can bring a cheaper option from home. 
Avoid the costs of parking and fuel by opting to take public transport instead. It can also be a great way of meeting new people. 
New Text Books 
Chances are you’ll only be using your text book for that semester, so why fork out for a new one? Ask older students for their copies or visit the secondhand bookstore on campus. Make sure to check with your unit coordinator or lecturer that there’s no massive changes in older versions. If you do need to purchase a new copy, have a hunt around online – there’s usually a provider offering a much more affordable option than the campus store. 
CommBank’s Student Options will provide you with exclusive discounts that’ll help you save money while studying. If you’re keen on having a chance at winning $10,000 from CommBank then make sure you have an Everyday Account on Student Options by 11.59pm (AEST) on 8/04/16. To learn more about how Student Options can help your finances for the better, head to CommBank’s website HERE.