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Saving money as a student can be challenging. But, finding a place that's close to campus and where you will be provided with all types amenities that can help reduce your living expenses will be of benefit.
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You need to be saving money if you’re going to pay for your education and survive — but the last thing you want is to miss out on activities happening at your university. By saving money, you can have enough available for when something fun is going on.
Stick to a Budget Draw up a budget that covers your housing, utilities, food, and other essentials. It may take you a couple weeks to figure out just how much you need for each. Subtract this amount from your monthly income, along with a backup amount for emergencies. Then, figure out how much you can afford for non-essential pleasures. The trick is to never exceed that amount.
Cook Your Meals Meal plans are expensive, as is eating out. You can save money by preparing as many meals as possible at home. This includes brewing your own coffee instead of grabbing a latte on the way to class. Cooking meals is much easier for students living off campus than for those in a McMaster residence, but it is possible to an extent whatever your living situation.
Save on Accommodation Talking about living off campus: you’ll also spend less on accommodation if you rent a student apartment. Even when you factor in utility bills, living off campus tends to be far less expensive — and usually more comfortable.
Collect Coupons Often, you can reduce how much you spend by taking advantage of coupons. Make sure that you just collect coupons that offer a good deal and for products and services you actually want. Then, you can plan your meals and activities around the coupons you find — you may even be able to find good restaurant deals. Remember, you can find both physical coupons as well as online discounts.
Find Things to Do for Free Research what free events are happening on campus and in your area. Look for outdoor music concerts, meet-ups, and events at your local library. All these are also great ways to meet new people.
You’ll save the most money and sacrifice the least if you live in all-inclusive McMaster accommodation. At West Village Suites, for instance, you receive far more than just a room.
Included in the cost are amenities like electricity, water, gas, a fitness centre, and Wi-Fi. Plus, you’ll receive a full-sized kitchen for cooking meals and you can opt for a furnished apartment to reduce the expense of purchasing living essentials.
