If you’re in grad school then it’s likely that’s your living for each pay-cheque that you receive. If this is the case, then perhaps it’s time to think about how you spend your money and better ways to save money whilst in grad school. Therefore, below we will provide you with 19 tips and ideas on the best ways to save money whilst in grad school.
1. House share
Although you may be in your 20s, it is worth reducing the amount you pay on rent by sharing a house with other grad students. However, don’t feel that you need to move in with undergraduates, stick to grad students so that you can continue to live the lifestyle that you are now accustomed to.
2. Reduce your meat intake
Don’t think that you need to eat meat every day because your body doesn’t actually require it. Instead, consider making pasta with a homemade sauce or a vegetable and rice meal. By not eating meat every day, you will soon see the money that you can save.
3. Supermarket sales
Each week it’s worth heading online to have a look at what sales are on in your local supermarket that week. By doing this you may find that you can save up to 10% on your usual purchases by planning your meals ahead and using those products that will be on sale.
4. DIY beauty care
If you can avoid visiting a professional for your beauty care then try and do things for you at home. For example, if you need to dye your hair then do it yourself at home and the money you save you could then use to treat yourself to a facial or to find cheap essays for sale if you’re falling behind or need some extra custom writing help with your papers.
5. Prepare meals in advance
Avoid buying meals on campus to save money and prepare your meals the night before instead. You’ll also find that this way you can control what you eat, which will be a healthier option for you too.
6. Bulk buying
When you buy in bulk you will save money as quite often there are deals such as buy 2 and get 2 free. When it comes to food such as vegetables, if you buy these in bulk you can store what you won’t use in the freezer, as vegetables will last up to six months in a freezer.
8. Take your bike to campus
If you live fairly close to campus then consider riding your bike to campus and avoid paying for transport costs. Not only will this save you money it will also help you to keep healthy and kick-start your brain into being ready to learn.
9. Consider living at home
This may only be an option if you are studying near to home. Although it may seem difficult to move back home with your parents if you’ve been away for a while, it is without a doubt one of the best ways of saving money whilst you are in grad school. Just think of the money that you will save on rent and also the fact that you’re likely to get your meals cooked for you.
10. Quality is important
If you’re going to buy a pair of shoes then buys a good quality pair that will last and also a pair that suits every season. The same goes for an electric appliance or device, buy something that will last and not die after a few uses.
11. Use second-hand shops
If you need new furniture or clothes then consider using a second-hand shop. Not only will you save money, but you will also be doing something for the environment too.
12. Always ask yourself if you need it
Before you purchase anything, always stop for a moment and ask yourself do you actually need the item that you are about to buy. If you do not need it, then, don’t purchase it as it will be just a waste of money.
13. Present buying online only
If you need to buy a present then make sure you look online and head to stores where you may find personalized products at a good price compared to the high street.
14. Be careful with loans
If you find yourself in a situation where you have to take a loan out then make sure you take the absolute minimum that you need. If you decide to take a loan to fund your lifestyle or socialization desires, you’ll soon come to regret this when it comes to interest charges and paying it back.
15. Don’t go out as much
If you love to socialize then you will know the amount it costs you. Therefore, you need to reduce the amount that you go out. Although it’s important to make no new friends and socialize whilst at grad school, you need to remember to be sensible at the same time. When possible, stay and socialize at home with friends as this will help you save money.
16. Buy a water filter
Don’t buy bottled water as it’s not only a waste of money, it’s also bad for the environment. Instead, it’s worth getting a water filter and filling up a reusable water bottle.
17. Have specific spending days
Allocate a particular day or days when you are free to spend, for example, Wednesdays for groceries and Sundays for a top-up shop.
18. Avoid using dryers
To save money on your electricity bill don’t use a dryer to dry your clothes. Use a clothesline or if the weather is poor, purchase a drying rack which you can use indoors.
19. Work as well as study
Try and find a job that you can fit around your studies and you may even find a job to suit your studies, particularly if you’re studying for a PhD. If you can’t find a role to suit your studies, then look at jobs in a local supermarket or restaurant.
