How to save money as a student

As a student, you will most likely need to be careful with how you use your money. We’ve put together our top student tips for making your money go further.

This first step to saving money is to start a budget. Having a budget is essential for students, but it’s important for all stages of life. It’s a great habit to get into and can set you up for managing your finances for years to come.

Tips for how to budget

If you’re looking to save up for an upcoming holidays, events or university-related costs, you can best do this by learning to budget (opens external site). Here are our top 5 tips for a student budget:

• Put your money in the bank
  Avoid taking out large sums of cash. Keep your money for the week in an everyday account and set limits so you can stay disciplined.
• Open a student account
  Student accounts are usually fee-free and offer much more attractive interest rates than regular accounts.
• Track your spending
  Use a spend tracker app from your bank or download one from the app store … it will help keep you honest and disciplined.
• Ditch the credit card
  Credit cards charge fees and interest that you don’t need as a student.
• Use a budget planner
  Get a clear idea of your income and expenses and evaluate how you can better manage what’s coming in and going out.

If your budget shows you are on the road to debt, you should discuss your options immediately. You can always come and speak to us at UTS Financial Assistance Service.

How to save money in Sydney as a student

One of the challenges you face when you start studying is being able to save money as a student. The costs of university and living away from home quickly add up, and the bustling social scene can put a drain on your bank account. Here are our 23 hottest tips for saving money in the big smoke.

Cutting food costs

Food and grocery expenses are a lunch chunk of every budget—and an extremely important one. It’s important to eat healthily to avoid unexpected medical bills when you get sick, so being wise with your food and grocery spending is essential.

• Eat at home as much as possible
  You can save heaps AND impress your friends with your culinary skills.
• Only buy fruit and veggies that are in season—cheap and fresh!
• Stick to no-label groceries
  Half the time they’re just as good. You might also buy in bulk if you know you will eventually use something that's on special.
• Pack a lunch when you’re leaving the house
  When you’re heading to uni, take a sandwich from home. Having a packed lunch with you will save you from dropping unnecessary cash on expensive take-away meals.
• Make your own coffee
  Invest in a flask and take your own coffee when you go out. It will stay hot and you can save up to $10 every day if you’re a regular coffee fiend.
• Check out the Student Association
  The Student Association runs free breakfast programs and coordinates an organic Food Cooperative. For more information, visit their offices on Level 3, Tower Building.

Cutting student costs

• Download software from UTS
  The UTS Systems website offers free programs (like Microsoft Office) for students.
• Take advantage of the UTS wireless
  Connect your laptop to the UTS wireless internet connection when at uni.
• Use the library
  Don’t pay for books if you don’t have to. The UTS library has an extensive collection and you get free access.
• Make the most of uni discounts
  Keep an eye on Activate UTS webpage for free or heavily discounted events.
• Join a club
  Many clubs and societies at UTS can be joined for a very small fee and provide numerous benefits throughout the year.
• Apply for scholarships
  There are plenty of student scholarships available from UTS as well as external sponsors, like Westpac Scholars Program.

Save money on leisure activities

• Take advantage of happy hour
  If you’re meeting some friends for a drink, head to the pub at happy hour, it’s half price! (Drink responsibly … it’s not an excuse to have ten drinks.)
• Use the UTS Gym
  The UTS gym is really cheap compared to other gyms and has exclusive student prices.
• Shop second-hand
  Sometimes the coolest things you can only find second-hand. Check out op shops for fashion and second-hand bookshops for hidden gems.
• Use your student discounts
  There are plenty of student concessions for things like movies, theatre, and activities. Make sure you ask if there are student discounts before paying full price.
• Have a night in
  Okay, this probably isn’t the one you wanted to hear, but it can be a really fun time to stay in, relax and read a book.

Free things to do in Sydney

• Picnic in the park
  Sydney is famous for its parks and there are few better places to have a picnic in the summer. The Royal Botanic Gardens has gorgeous harbour views and plenty of native bird-life to spot while you enjoy a snack.
• The Art Gallery of NSW
  This stunning art gallery in the city is nestled right next to the Royal Botanic Gardens and has plenty of free exhibitions from local and international artists.
• Centennial Park
  Go rollerblading or skating through Centennial Park—totally free and totally fun.
• Bondi to Coogee Walk
  The Bondi to Coogee walk is a six-kilometre walk through the eastern suburbs over magnificent cliffs and through cosy coves.
• The Rocks Discovery Museum
  This museum is housed within restored 19th-century sandstone warehouses and tells the story of European settlement in the area.
• Live music
  Sydney has a bustling live music scene, and there are free bands at the pub all the time! Some of our favourites include Frankie’s Pizza, Corridor and The Beach Road Hotel.