Money Saving Tips: How Students Can Save Money To Help Their Parents

 

Parents try hard to provide their children with the best stuff. From education to clothes, these are basic needs of every person and you don’t know how your parents struggle to provide you top notch qualities. Some even work extra hours so that survival is not difficult.

As you know how expensive education is now and most parents have educating their kids as first priority. It is the most important thing in life with your future depending on it. With so much happening around today, you should avoid wasting your parent’s hard-earned money and use it sensibly. Moreover, you should try to save money to support your parents and reduce the burden from their shoulders. We have thought of some money saving tips for students that will help reducing burden on parents.

Buying Or Renting Used Books And Selling Them After The Course Ends

Books are very expensive now, if you calculate the total price of books being used; it will be very close to your tuition fee of one semester. It is actually an extra cost that parents have to pay, but we have found an easy way out. Rather than purchasing new books, you should go for used ones. You will find online and physical stores that provide students with used books and cost less than new. Moreover, renting is also an option for students who cannot purchase books. Once the semester is over, you can also earn from them by selling them to fresher at half the price. You can save and earn by applying this method and help your parents.

Smoking And Drinking Are Very Expensive And Should Be Cut Out

While you are away from home and legal to smoke and drink, you should still prefer not to. Smoking and drinking take a major part of the money. If you have a habit of smoking and drinking too often, you should try reducing the consumption and quit them later. It is not just wasting your money, but both these habits are dangerous for your health. The diseases that happen due to these things are deadly and have expensive treatments. If you suffer from a serious illness, your parents have to use all their money including their savings to treat the illness. Try to quit consuming them, if not than reduce the consumption and save your parent’s money.

Paying Bills On Time And Avoiding Late Fees

You should always try to pay your bills on time and save yourself from late fees charges. Most institutes have strict laws regarding late payment of bills and huge penalties are charged which can hurt your financial plan. There is a reason behind institutes charging penalties on overdue. They do it for your benefit and to make you punctual, charging more will be a lesson for you and the next time you will pay your bills on time. Not just educational institutes, but almost every company has this policy and if you have ever noticed your electricity bills, there is a section stating amount to be paid after the due date. Paying your bills on time can save a lot of money that will be charged as penalties by institutes. Your parents have other expenses to deal with as well, being a little punctual will reduce burden on them.

Use The Cheapest Mode Of Transportation To Commute

The mode of transportation you choose to commute covers an important ratio of expenses. Using a car to commute can be the most expensive mode of transportation. It is not just about the fuel, cars can lead you to bigger troubles. While you are using a car to travel, it is obvious that you have to keep it maintained so that it functions properly. It is an extra expense, which can be reduced by using other modes of transportation like using public transport or bikes. Moreover, you should try walking for short distances as walking is good for health and you can save a lot of money as well.

Split Rents And Utilities

If you are an international student, you can save a lot of money on accommodation. There might be other international students as well, you can share your room with them and split bills and rent equally. It will definitely help you save money.

These are some tips students can follow to save money and reduce pressure and burden on their parents. Many students even work part time to earn and spend for themselves, which is really helpful. Try to save as much as you can.