Although you could be excused for spending time buried in your books, now is the time to take a moment to examine how you’re managing your budget. Are you on an established budget? Or do you find yourself spending on the going?

University can be expensive, and there is no end to the opportunities to spend your hard-earned dollars or student loans. If you can make small changes today, you can save yourself a lot of money in the long run.

Budgeting

Making a monthly budget is the first step towards keeping track of your finances. Budgeting will give you a complete analysis of your spending, so you can make informed savings and spending decisions. It can also help decrease the amount of debt you have upon graduation, since, trust me, you don’t want to enter the working world with debts of $30K.

1. CONCRETE A BUDGET

Create a spreadsheet , and compare your expenses and your income for the following year. Are you in the green (income higher than expenses)? Great! Make sure you’re saving every month.

If your account is in the black (expenses more than income) You’ll need to contemplate ways to decrease your spending or boost the amount you’re making every month.

You can visit the UBC’s Financial Planning page to access useful budgeting resources including a budgeting basics worksheet and a budget planner. Additionally, there’s an cost calculator online that available for you to use.

2.read about it chiangraitimes.com from Our Articles Track your spending

Write down every purchase you make or use a budgeting tool like Mint, Wally, Mvelopes, or Goodbudget. Simply tracking what you spend can help you identify patterns, help you become more aware of the places your money is going and can help you determine if you need to make changes.

3. DIFFERENTIATE “NEEDS” and “WANTS’

Although it may seem like an obvious distinction that you will be amazed at our ability to rationalize some of our spending decisions. Affording only what you actually need can give you more flexibility in your budget over the long term.

4. STICK TO YOUR BUDGET

Making a budget is the most straightforward part. Following that, you have to take it to action. But keep in mind that a financial plan isn’t a fixed thing. The contrary, it is intended to be dynamic. It is therefore important to update it whenever circumstances happen.

School

College is expensive, and the charges can quickly add up, especially in September and January, when tuition is due , and you’ll have to purchase books for your class. By making the right choices and investing a bit of effort, you’ll reduce the impact of these huge expense on your budget.

5. Get your hands on some free cash!

We all know money isn’t a tree (#SAD! ), there are a surprising number of places to get it for free.

Consider applying for scholarships, awards, and bursaries. Many scholarships don’t see many applications. Therefore, it’s worth the effort in the beginning and working hard.

6. Be aware of how you Pay for your school’s fees.

Beware of paying your expenses for housing or tuition using a credit card, as there’s a 1.75 percent charge is added to the total. If you have a tuition cost of $3,000, you’ll lose more than $30.

You can also use a different payment method, for payment, such as a transfer to a bank or a credit card. Go to the Paying Tuition Page to find out more about the payment options available to you.

7. DO NOT USE UP YOUR MEAL PLANS DOLLARS

If you’re in residence and have an eating plan, the ideal option is to use your meal plan’s basic funds to go to the in-residence dining halls. In this way, you’ll receive a discount of 25% on your purchase.

You also can receive 5 percent off when you use your flex dollars for purchases at UBC Food Services locations.

8. SAVE MONEY ON TEXTBOOKS

Buy books used from students who have sold them on Craigslist, Kijiji, or Facebook groups such as UBC Used Textbooks.

There is a UBC Bookstore even has a rental program that can be used for some books. Also, don’t forget check Amazon for bargains.

9. SELL your Textbooks

When you’re done with a textbook, give it back at the UBC Bookstore or Discount Textbooks Try to find someone else who might need the book.

Food/Grocery

Apart from rent, your largest monthly expense is probably food. While eating out frequently is the simplest option, it’s also one of the most expensive. Making a decision to do it yourself with food consumption is an effective method to save money as well as improve your cooking skills.

10. COOK HOME – COOK

Limiting the number of occasions you dine out in a month can save huge amounts of money. Prepare big meals and put the rest in Tupperware containers. You can take the leftovers to school and heat them up for savings on meals.

There are microwaves all on campus, so really you have no excuse. Check out this handy map to be a good starting point for finding the closest microwave to you.

11. BUY IN BULK

When you buy in bulk, you get the most value of every purchase. Spend time shopping with families and friends, and then purchase family packs. Separate food into plastic bags , and then put extra food items in the freezer to be used later.

12. Plan your meals

When you’ve planned your meals to prepare for the week, what you will need to purchase. Write down your shopping list and make your shopping list strategically. Be sure to only buy what you’ll need. This will also help reduce the amount of food that is left over at the end the week.

13. Make YOUR OWN COFFEE

If you decide to buy a cup of coffee per day at the price of $3 per cup you will cost you $600 over the school year. That’s right, $600.

Instead, purchase coffee beans in bulk and prepare the coffee yourself. Purchase a travel mug and bring it with you to your school to keep your coffee warm.

14. COUPONS, COUPONS, COUPONS

Get your hands on all coupons you can. Use coupons to cut back on your grocery bill.

Shopping

In the culture of consumption the world we live in, it’s extremely tempting to desire–in the Arcade Fire’s words: “Everything Now. Being able to resist the urge to shop on impulse is the ideal way to save money.

However there’s no way to stay away from buying specific things. So , if you’re in the position to make a purchase, consider taking steps that will reduce the amount you’re paying for.

15. REFUSE STOP IMPULSE BUYS

This is a good reminder to differentiate between the items you need and things you want. If you do want to spend money on something you ‘want then check your budget first and see if you can afford it.

Don’t make purchasing decisions quickly without thinking about the consequences.

16. SHOP AT DISCOUNT STORES

This store must always be the first stop to shop to buy household goods, school supplies, and so on. Thrift stores are excellent for secondhand clothes, and Vancouver’s got an entire collection of them.

If you’re looking to start, explore the Salvation Army in Kits, F As In Frank on Main Street, Community Thrift and Vintage in Gastown as well as you can visit the Wildlife Thrift Store on Granville Street.

17. Purchase generic products, AVOID NAME BRANDS

This is pretty straightforward. No matter what it is, whether it’s food or medicine and toiletries or household items, go with the less expensive generic option as opposed to the high-end name brands.

At the local grocery store, make sure you buy household brand items. A dollar or two you save will add up over time.

18. ASK about discounts for students

Many stores offer discounts to students, the discounts aren’t always advertised. Don’t be afraid of asking questions from a store worker. You should have your student account ready. Make a request and (sometimes) you shall receive.

Entertainment

Extracurricular activities and a social life are vital to making your university experience enjoyable. The hard part is figuring out how to make it enjoyable without breaking the cost of the.

19. AFFECT ACTIVITIES IN SOCIAL LIFE THAT DO NOT SELL MONEY

You can go hiking, cycling or sightseeing, or go for to the park for a stroll. Things that take advantage of Vancouver’s nature-friendly surroundings are ideal. Here’s a list 25 things you can do for free in Vancouver.

20. Take advantage of UBC CAMPUS ATTRACTIONS

As as a UBC student, you can enjoy no cost access or discounts on admission to a range of UBC institutions, such as for instance the UBC Aquatic Centre and the ARC and the Birdcoop Fitness Centres, the Museum of Anthropology, the Nitobe Memorial Garden, and the Morris and Helen Belkin Art Gallery.

21. SUBSCRIBE TO A CLUB

University clubs are amazing ways you can get involved and get to know fellow students. There are literally hundreds of club options at UBC and they’re always hosting social events.

Visit the AMS website to see a complete list of available clubs.

Don’t be afraid to reach out to get help

It is common for students to avoid reaching out to people who can assist them until it’s late and they’re already in financial trouble. Beware of this. If you’re strapped for money, reach out to those nearby for help. Inform your family. Inquire your parents to transfer money to you or to take out a loan.

You can also talk to any Enrolment Services Advisor for guidance regarding what you can do. ES Advisors can help you to create a budget or a effective plan to alleviate your financial burdens.