9 Ways to Save $$$ While at University
Posted by Gail | Filed under Money Management
Have you seen what it costs for tuition and books these days? University students don’t have to come out of school buried in debt. Accept that you’re “poor” students and live accordingly. Here are some ways to save while you’re at school:
1. Sign up for a free chequing account. Savings accounts don’t cost anything, but chequing accounts can be expensive. Look for a bank that gives students a break: no fees. Then make sure you stick to the rules: no using someone else’s ATM. No NSFs. No overdraft.
2. Skip buying coffee. Yes, it’s nice to meet friends for a coffee and a gab. And you may even need a cuppa to get your motor running so you can make sense of your 8:30 calculus class. Make your coffee at home, put it in a travel mug and save. Two cups of regular take-out coffee, or one fancy coffee at $4 a pop, will run you to almost year’s worth of tuition. $4 a day x 7 days a week x a 4-year undergrad = $5,824. Make it at home and cut your costs by 80-90%.
3. Don’t buy bottled water. Make a habit of filling a large bottle 1/3 full and freezing at night. Fill it up in the morning, pop it in a plastic bag and stick it in your backpack.
4. Don’t grocery shop when you’re hungry. Everything looks delicious when you’re starving. You could find yourself spending up to 50% more on impulse purchases. Eat before you grocery shop.
5. Look for free events on campus and in your local community. Hey, I know all work and no play makes Jack a dull boy. But if you’re spending gobs of money on entertainment then you may not be dull, but you’ll be broke. Check local newspaper free concerts, festivals, and theatre. Go to movies on cheap nights or in the afternoon when tickets are less expensive. Eat before you go and don’t buy all the junk food. Hit the library for a movie and watch at home with a couple bags of microwave popcorn and some pals.
6. Cut the cable. You don’t have time to watch TV. You’ve got studying to do and interesting people to hang out with. If you’re paying for cable, you’re wasting your money… and your life.
7. Get Skype. You can use it to call home when you’re missing mom and dad. You can use it to coo at your boy- or girlfriend. You can keep up with your best friend who’s at the other end of the country. All for FREE.
8. Take advantage of special offers for students. Hey, you can travel the bus system for less. You can buy stuff for less. Put on your poor student face and ask for a discount.
9. Get another roommate. If you can find a way to squeeze one more body into your house, you can come up with enough money to pay the utilities. That’s a cost you won’t have to shell out for. Speaking of which, turn down the heat at night. Unplug your electronics when you’re not using them. And turn off the frickin’ lights when you leave a room.
August 23, 2012 at 8:48 am
As an older student (26 year old graduate student) here are a few other tips to know about in regards to special offers for students.
- Our grocery stores (Atlantic Sobey’s and Superstore) here offer 10% off on Tuesday’s. All you have to do is show a valid post-secondary ID card. Bonus is (at least at Sobey’s) they calculate the 10% before coupons even if they swipe the student ID after.
- My bank (BMO) gives anyone with a student account a free Student Price Card (SPC) which is good for a year (http://www.spccard.ca/). There are so many places that take this card from clothing stores to sporting goods stores to restaurants. Even if I didn’t get it for free it’s only $9, and trust me I’ve saved easily over $250 in a year without too much effort. Again you will need to be prepared to show your Student ID with the SPC card, but honestly it’s not too too often I get asked for it. Though I do sometimes because they expect students to be closer to 18-20 and I’m getting closer to 30 now.
- Buy used books if the class is still using the same edition, and NOT from the university book store. Check out your school’s classified sections and you’ll be guaranteed to get a sweet deal. Also try online sites like Amazon/Chapters and you might also get a large discount.
- Make use of the on campus gym! I have friends who work all day on campus and then go past the campus gym on the way home to ANOTHER gym (GoodLife) that costs $25-50/month! The campus gym is decent, just ours doesn’t have 20 elliptical/treadmills in a row. It does have an indoor track though so who needs a treadmill?!
August 23, 2012 at 8:56 am
The university campus where I work has replaced all the water fountains with water fountain/bottle refilling stations. It’s really nice (can refill my bottle with COLD water!), and the refillable water bottle seems to have become standard equipment everyone has shoved somewhere in their backpack!
August 23, 2012 at 9:06 am
Just a note about textbooks:
watch when you buy used books. These days most science/math classes need acess codes and other add-ons. Used books do not have these and buying the codes separately is more expensive than buying them new with the text package. Be VERY cautious when buying used books from other students. They just want to get the $$$ and do not care if you have the correct book/edition/etc. I work at a University Book Store that is non profit. We pass on a 20% savings on the books to the students. The place to watch your spending is on the ’swag’. Buying a shirt/hoodie /notebook with the university logo will raise the cost astronomically. I a talking 300% markup! Buy you shirts at the local thift store and your stationery supplies at the dollar store. Same product…better price.
August 23, 2012 at 9:15 am
It wasn’t that long ago that I was a student – but what I think gets a lot of students (apart from tuition and books, obviously) is the drinking & eating out.
I don’t think university students have trouble with the “free entertainment” part – BYOB house parties & hooking up are way better than going out anyway, and free.
For students looking to save cash on textbooks, a friend told me about http://www.bookfly.ca which lets students rent textbooks. Never tried it so can’t vouch for how well it works, but it’s there.
August 23, 2012 at 10:04 am
Another way to save, pack your lunch and snacks instead of buying them at school. Also, rent a room instead of an apartment. I payed less than $350 a month and that included all utilities except my cell phone. (I rent for 975 now that I’m out of school just to give you a comparison…not including utilities). Make use of any free activities your school offers. I use to go to all the free lectures, movie nights and met quite a few people. Also, if you work, try to find employement where you get freebies – like a video store. Nothing beats free movies.
August 23, 2012 at 10:12 am
Live at home if you can!
Take advantage of student bus passes which are free at some universities.
Wait on buying text books for certain classes. I found with my history and classics classes everything I needed to know I learned in the lectures and I rarely read any textbooks for those classes. Wait for a few lectures to see if you really need them and what the instructor is using them for.
Go to class! You’re paying for it, take advantage of it.
August 23, 2012 at 10:29 am
Take advantage of what your university has to offer, ex. free counseling sessions, free tutoring, join an organization(s) it’s a great way to meet people. Talk to your professors know their office hours they are welling to help. If possible live at home, or close to the university, and walk to class. Talk to your peers, organize a study group, and talk to older students in your major. Buy used textbooks on-line or share a textbook with a peer. Get free coupons for students. Bring your lunch if it’s difficult to get home between classes. Use library computers, or get free Wi-Fi from your university.
August 23, 2012 at 11:39 am
A warning on your last point – before adding another roommate, make sure your landlord clears it and the house is zoned for that many people. There is a huge problem in many University cities with landlords renting out homes that are not zoned for the number of people living in them (and if you’re caught, it means you’re removed from the home and have to find a new place to live ASAP, not worth the risk).
Also, many University students pay a rental price “per room” rather than “per house” meaning you don’t have the right to rent out additional space without the landlords permission, since you really only pay for your specific room.
In doubt about any of this? Check with your University housing office, many of them have someone who provides advice on off-campus housing who can give you a better understanding of the rules and regulations around rentals.
August 23, 2012 at 11:45 am
Reading all blogs and Gail’s, I miss school. I have been out of school for many years, I sure enjoyed the post secondary school I attended. I enjoy it even better when my younger sister returns to school. So far she has on her own found a system to save money while attending University.
Bringing coffee from home, I strongly recommend. Sure is easy to purchase other items with your coffee.
Good luck in school and please enjoy yourself
August 23, 2012 at 12:39 pm
If at all possible, go through co-op, a paying job every second term can offset your costs for the next term.
borrow your textbooks from the local libraries if you can. While this may not work for science/math, its fabulous for lit/social/humanities/history courses. i took a children’s lit course and borrowed all 10 of my books from the local library, and from a school teacher i knew who had access to the books from her school. my mom did her degree part-time while i was in high school and borrowed nearly every single book from our local library. if you can’t, share books with fellow students, and make arrangements to split the cost of books.
August 23, 2012 at 12:51 pm
I also recommend living at home if it is a possibility. I realize that it can be isolating from the rest of the university population but I was lucky as most of my friends from highschool opted to stay local as well.
On the flip side I had another friend at school who ended up living in a three bedroom house with six other people. The constant activity and chaos of her house had a serious impact on her academics, so I do think there is a point where the body count gets too high for it to be worthwhile.
August 23, 2012 at 2:33 pm
Excellent advice, as always, Gail!
Save, save, save for your future and for future fun – that’s the message I’ve tried for years to drill into my now 18 year old son’s head, but I may have drilled too hard, because it would seem that his head is now so full of holes that all of my good and sound advice falls right out of his brain bucket!
But, I am a “hope springs eternal mother” so I am ever hopeful though that he’ll heed my advice and NOT end up with massive student (or other debt). I went to college/university when he was young, funded by OSAP and paid back, by me, at an stupid rapid rate because 1) I hate debt, 2) I hate paying interest and 3) I wanted to OWN my education and paycheques!
Good luck to everyone heading off to college and university over the next few weeks – have a ball, learn lots and walk the frugal line to allow you the freedom to walk the wilder one when you’re done!
August 23, 2012 at 3:30 pm
For students shopping for used textbooks, I would add – shop as early as possible. For large classes, used books can sell out extremely quickly. If you find you’re not using it, you should be able to re-sell it before the next term.
August 23, 2012 at 4:36 pm
All excellent advice – thank you
It’s just 2 yrs before my daughter heads off, I think I will print this and start a binder full of money saving and other “good ideas” for her.
August 23, 2012 at 4:38 pm
@ Alicia- great tips! I think Bulk Barn also has a 10% off on Tuesdays deal for students! Students love Bulk Barn! Lots of snack/study foods there
I like the tip about not paying for cable…it really is a time-waster. Also, you can watch almost ANYTHING on the internet now! For FREE! That way you can still keep up with your favourite shows but not be distracted by channel surfing.
One point about textbooks: I know people who used to actually buy one copy of the book and split the price, and photocopy it so they would each have a copy. It actually doesn’t take as long as you would think to photocopy a book with a couple hundred pages lol. Grab a cup of coffee (in a travel mug which you brought from home, of course!
) and read while you are at it. Hey, you might actually learn something 
Plus it gives you time to gossip! Slight disclaimer… it might be against copyright laws so maybe be careful with this one!
Also, if you bring coffee from home, many coffee shops offer a bit of a discount to refill a travel mug as opposed to using one of their paper cups. It saves them money and the environment. So if you need that second cup, bring use your own cup
August 24, 2012 at 4:15 pm
These are all good tips. For students cooking for themselves, I would also recommend eating less meat – I probably only cooked meat once a week all through school and it showed in my bank balance! Another thing to remember is that you can get books through interlibrary loan, so even if all the copies are borrowed from your local library you can still get a copy. (why yes, I AM a librarian!). I think it also good to get in the habit of inviting friends over for dinner or for drinks rather than eating out all the time. Or, if you do want to go out with friends, suggest that you will all go out for dessert and eat a good dinner at home beforehand.
August 24, 2012 at 9:43 pm
If you do make use of the free entertainment of house parties and hooking up, please stop by either your campus health centre or the women’s centre and get yourself some free condoms. Being thrifty is no excuse for not being safe. (And besides, a baby is much more expensive in the long run.)
August 24, 2012 at 10:43 pm
@Andie – Bulk Barn has 10% off regular prices on Wednesdays for students and Seniors.
August 27, 2012 at 1:54 pm
I would add “learn to cook”. I didn’t know how to cook during my undergrad and spent way more on prepared foods and junk because of it. When I got to grad school and my budget got even tighter for various reasons, I taught myself a few simple meals and saved myself a bundle!
Oh, and if you’re busy volunteering or doing extracurriculars, your entertainment is taken care of for little or no money. I was too busy doing neat things to spend a fortune drinking at the bars like some of my residence floormates.
August 27, 2012 at 6:22 pm
abebooks.com is also a great place for textbooks! I learned after my first year that if you watch the edition number there is no reason to go to the bookstore at all. I think I spent more on textbooks in my first year than the next three combined. I was a History/English major though, science is a bit of a problem for that.
The partying is the biggest cash killer I saw, but you shouldn’t really have more than a couple of drinks in a night anyway – it’s better for your health and your budget!
I lived in a city with high rental prices – one university, 2 colleges and a transient mining population meant landlords could charge crazy prices. On campus was well priced, but as a married student past my first year so I couldn’t take advantage. It’s something to keep in mind while choosing a University, the rental markets around different schools are drastically different and many students move to off-campus after first year.
August 30, 2012 at 1:11 pm
If you have a university in your home town…
- Study nearby and live at home
Living at home will save tons of money (parents often do not charge rent – those that do are usually more generous than a landlord – and may even let you borrow their car every now & then) and possibly help you focus on your studies.
- Commute on foot or on public transit
Do not buy a car at all until you absolutely positively need it. Too far to walk? Get an ugly used bicycle with fenders (for rain/slush) and a helmet. Still too far? If you can get there in <1 hour on the bus, get a bus pass.
If you MUST buy a car, avoid purchasing a new car. Instead, buy an economical 3-6-year old car instead. (Google "Negative Equity"). Any older and you're stuck in repair-land (I've had both too old and then too new – I'm still carrying debt from expensive repairs (old car) and now have negative equity(new car))
- Get a part-time job! A part-time job will help offset tuition and living expenses, and will quickly teach one the value of (a) an education (I don't want to be flipping hamburgers all my life!) and (b) money (If I earn $11/hour, then I have to slave away over 10 hours to pay for that $110 item).
This approach enabled me to get through 2/3 of my education entirely debt-free (and with ~$5000 in savings to boot!)
The wheels fell off once I moved out and in with my now-fiancée
Before moving out, ensure you:
- Live at home as long as possible
- Prepare a budget before moving out.
- Do not move out before completing studies
- ***Track your spending.*** Everything from groceries & bills to that Tim Horton's coffee.
- Use your credit card sparingly (some responsible use helps build credit rating) and pay it off in full every pay. If you can't pay the entire balance in any given month, stop and review your spending and your budget immediately.
- Watch "Till Debt Do Us Part" every week