Living on a Student Budget? Here’s How to Make Your Money Last 💸

Let’s face it, student life isn’t cheap! Between monthly rent, food, and all those “necessary” coffee breaks, your bank account can get empty really fast. But don’t stress, we’ve got some helpful budgeting tips that’ll make your money work harder (and last longer). Plus, with NSFAS bursary allowances, you already have a solid start. Let’s make every rand count!

1. Know Your Money Situation 💰

First things first, what are you working with? If you’re on an NSFAS bursary, here’s the deal:

– Accommodation: R24,000/year in urban areas, R18,900 for semi-urban, R15,750 for rural.

– Transport: R7,350/year to get you to and from campus.

– Living Expenses: R10,000 for bursary holders, R15,000 if you’re on a loan.

– Books & Supplies: R5,200/year (loan holders only).

– Personal Care: R2,900/year (yes, this covers deodorant AND toothpaste!).

Break it down monthly so you know exactly what’s available. It’s like setting up your game plan and knowing your power-ups!

2. Track Your Spending Like a Detective 🕵️‍♀️

Use an app (Vault22 formerly 22seven) to track every cent. You’ll be surprised where your cash sneaks off to! (Check out this handy blog featuring the best budgeting apps to keep your finances on track!) Was it that extra takeaway or the spontaneous online shopping spree? Get a grip on your spending habits, and you’ll be the budgeting master in no time.

3. Set Small Money Goals 🏆

Want to save for a concert? Or maybe a mini vacation with friends? Set small, fun goals and keep a bit aside each month. When you’re working towards something exciting, budgeting feels less like a chore and more like a challenge!

4. Grab Those Student Discounts 🎉

As a student, you get major perks! From transport discounts to cheaper eats, find out where you can flash that student card. Here are some food heroes helping students out:

– Food & Connect (UCT and UWC): Affordable, healthy options!

– Tiger Brands (University of Pretoria):Fighting food insecurity.

– Unilever Health: Affordable, healthy meals.

– CSG Group & Chartwells: University catering champs.

Keep an eye out—these discounts are out there, waiting to make life easier!

5. Cut Back (Just a Little) on the Extras 🍕👠

We get it, FOMO is real. But eating out, Ubering everywhere, and impulse shopping can drain your cash fast. Try limiting these to once a month and watch your savings grow. Who needs takeaways when you can learn to cook ramen with flair?

6. Create a Backup Fund 💸

Life happens, sudden expenses, tech that decides to die, you name it. Set aside a tiny amount each month for emergencies. Even R50 makes a difference, and it’s a lifesaver when you’re in a pickle.

Budgeting as a student doesn’t mean giving up fun; it just means being smart with your money. With these tips, you’ll stretch every rand and make the most of your NSFAS allowance.

Got any money-saving hacks you swear by? Drop them in the comments! We’d love to hear how you stay on top of your budget!

And hey, there’s absolutely nothing wrong with finding a side hustle! Just make sure it’s positive, ethical, and that you do your research. 😉

Shequila Adams | Digital Marketer