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If you are a student, then there will definitely be times when you feel the need for some money saving tips. It could be because you need to get something nice for yourself but you have used up all your allowance for that week or month. If you are an older student, you might try to balance your studies, extracurricular activities with a part-time job to earn more money but you might find that it is still not enough. This is when you need someone to give you some money saving tips so that you can accumulate some wealth.

It is vital that you do not view learning about money saving tips as something unimportant until the day when you need cash urgently. When that happens, it will be too late to carry out any advice of money saving tips that you might have learnt, so do start now. Below are 5 simple to carry out money saving tips that you can apply in your daily life. You might just find yourself to be a wealthy student soon.

1. Plan beforehand

This step should be applied in everything that you do, especially if you are a college student. This is one of the money saving tips that can prevent you from overspending even before you move into your dorm.

Do a detail check on whether you qualify for any scholarships or special student grants before you put your signature to that student loan form.

Next, map out your cash flow chart. Consider where the source of your 'income' is. Apart from getting money from your parents, student loans, can you get yourself a part-time job to substantiate your monthly 'income'?

Since planning is the first step of your money saving tips, you should now set aside your budget for your fix monthly expenditure. Allocate your money for your food, books, etc and make sure you stick to your plan! Self-discipline is very important here. You might learn all the money saving tips in the world but if you do not stick to them, you will not succeed.

It is also very important that you set aside a sum of money for emergency purposes. As such, it is vital that you stick to the money saving tips that you have learnt to use. You want to have that sum in the bank when you need it most.

2. Save on expensive food

Having set aside a sum of money for your food means you have to find a cheaper way to get the food. This could be a point that you did not realize when you were still staying with your parents. However, now you should stop eating at fast food outlets as you will definitely find that you have exceeded your budget very soon. Try bringing your own lunch to school instead. It is more nutritious and less expensive. This is another of the numerous money saving tips that you can apply to accumulate more wealth.

3. Take full advantage of student discounts

Check out the outlets that offer special student discounts when you display your student ID. One of the money saving tips tells you to find ways to spend less money for the same quality products, i.e. looking for discounts!

Alternatively, you might want to patronize a certain establishment regularly and before long, you are bound to get bonus cards for being a loyal customer. Ask them for one if they did not offer after a few weeks of constant patronize.

4. Pay with cash only

Any money saving tips guide will tell you to stop using credit cards, debit cards and checks. This is an essential point because you do not wan to overspend. So, always pay with cash only, unless in emergencies. This will also help you to track your cash flow more easily.

5. Stay occupied

Avoid idling as this will lead you to spend money on snacks, game rentals or movie tickets. Keep yourself occupied so that you will not give in to your own temptations of spending on stuff not on your budget list. Stick to the budgeting that you have learnt in saving money tips. One way is to join clubs at school. Find anything that might interest you and take part in their activities. In this way, you will not get bored.

Follow through with the steps listed in the above money saving tips and you will be pleasantly surprised at the amount of money accumulated at the end of a year. Since you do not really need the luxury items, stick to your set budget plan and you will have money in the bank for an emergency. So who says students are not capable of accumulating wealth by applying some money saving tips?

Stella Mak is a qualified school teacher with over 18 years of teaching experience and a mother of a pair of twins. Did you find the above information useful? You can learn a lot more at http://www.eduknowledgeworld.com Hurry! Grab the two ebooks that she is giving away FREE now before they are all gone!

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