How to survive on a student budget

Here are 5 money-saving tips for savvy spending so you can make the most of your time at university.

1. Take advantage of student offers and discounts

One of the best things about having student status is that there are plenty of student offers and opportunities that come with it. Even on a budget, your student card helps you unlock savings on everything from travel to food, fashion, and fun. Use these discounts to do more, for less and make your rands stretch further.

Make the most of your student status with discounts and special offers on the Varsity Vibe app.

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2. Choose the right account for your needs

You want to have the freedom and flexibility to take care of your everyday needs without paying high fees that will eat into your savings. Effective money management starts with choosing the right financial tool, e.g. a MyMo Account lets you enjoy all the perks of a traditional account but only pay for transactions you make. A PureSave Account can help you put money away to afford that new piece of tech or those fancy sneakers.

Open a MyMo

Open a PureSave

3. Pack your own lunch, drinks, and coffee

Buying refreshments and meals on campus works out to be very expensive and doing it regularly will eat into your money quickly. Bringing your own is cheaper and will save you money because these everyday expenses, even if they are small, can add up to be quite expensive and significantly impact your budget.

4. Re-evaluate your list of essentials

If ‘adding to cart’ is taking away from your ability to pay for your studies or enjoy student life, then it might be best to stay off shopping apps and websites. Also, don’t try to keep up with influencers: chances are their swag is sponsored, so they aren’t spending their hard-earned cash on it.

Rather opt for a few good-quality, timeless staples (which don’t have to be expensive) that will serve your style for years.

5. Gear yourself up for the future

Having a structured approach to staying within your means or earning extra money empowers you to be in control of your financial journey. We’re talking budgeting and hustling. While not always exciting or easy, they are effective in keeping you financially on track.

More importantly, they teach you self-discipline, how to be resourceful, and how to stay focused on what you want to achieve instead of just what you want right now.

Use the Budget Manager add-on feature on our Banking App to stay on top of your money movements.

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The good news is everyone’s been there, and there are plenty of tools to help you control your money and spending, and lots of opportunities online and on campus to work part-time and earn money.

University life is full of opportunities, and managing your money should never hold you back. By following these money-saving tips and taking advantage of student offers, you can make the most of your university experience without breaking the bank.

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_{Disclaimer: This article is solely intended for information. It does not constitute financial, tax or investment advice or recommendation. Please speak to a financial advisor or registered financial professional before making any financial decision(s).}

_{Standard Bank, its subsidiaries or holding company, or any subsidiary of the holding company and all of its subsidiaries make no warranties or representations (implied or otherwise) as to the accuracy, completeness or fitness for purpose of the information provided in this article or that it is free from errors or omissions.}