Financial tips for students
Ways to survive this cost-of-living crisis.
Earlier this year, everywhere I went it seemed like I was hearing more and more about this 鈥渞ecession鈥 and 鈥渋nflation鈥. It had become a conversation starter or, at least, it will wedge itself into the conversation sooner or later. No one was interested in the weather anymore; everyone was interested in the price of eggs.
But it didn鈥檛 really hit me until I walked to Sushi Hub one day after class to find that its $3.80 rolls are now $4. That increment of 20 cents is significant for a student like me.聽
After that I just couldn鈥檛 help but notice inflation at every turn. It鈥檚 been challenging but there are things that I鈥檝e taken advantage of to help myself stay afloat in this cost-of-living crisis.聽
Student discounts
One of the more exciting things about being a student 鈥 besides satisfying one鈥檚 thirst for knowledge, of course 鈥 are the discounts.聽
You can get them through apps like Student Edge and UNiDAYS which offer discounts on a wide range of stores like Chatime (very crucial for a boba fiend like me), Dominos, Sephora, The Iconic, DiDi, etc. I find that UNiDAYS have bigger and more familiar names, but you can apply for both anyway, so make the most out of it while you can!聽
You can also try your luck by asking stores if they offer student discounts before making your purchase. Sometimes they do but it鈥檚 just not advertised very well. When shopping online, special offers and discount codes are often linked at the bottom of the page or somewhere in the menu.聽
And if you鈥檙e thinking about joining some of the university鈥檚 clubs and associations, inquire into their membership perks. I鈥檓 aware that some of them offer student discounts when you purchase their membership cards like when I was a member of the Malaysian Students Association (AUMSA), they offered some really good member benefits, especially on Malaysian-owned businesses. I recall the AULSS and similarly, YouX, have their own sets of perks too.
Finally, many cultural experiences like the theatre, musical performances, and art exhibitions offer concession and Under 30s prices, making it more accessible to people like you and me!
So, make sure you keep your eyes peeled for these special discounts because you鈥檒l only be able to indulge in them while you鈥檙e a student. It鈥檚 compensation for all the times spent crying and panicking over assignments and exams.
Central Market hack聽
Did you know that about an hour or two before the market closes on Saturday, the producers slap on crazy discounts over their produce? (For reference, they close at 3pm, so prices start to drop around 1pm-2pm). I believe it鈥檚 because the market won鈥檛 be trading again until Tuesday, so to avoid wasting their produce, they sell it off at a much cheaper price.聽
But be prepared to push and shove your way through the market 鈥 and be pushed and shoved by others 鈥 because heaps of other people will want to take advantage of this price drop too. I鈥檝e been in those trenches a couple of times and it takes getting used to but hey, anything for $0.70 avocados, right?聽
Turn points into products
Groceries are a necessity and no matter how expensive things have gotten we will have to keep getting them, but that shouldn鈥檛 be the end of it. Major grocers like Coles and Woolies, even Foodland, have loyalty programs that reward you for shopping with them. Perhaps the phrase, 鈥淚f you have a Flybuys card, please scan at any time鈥 might ring a bell?
The way it works, basically, is that you get a point for every dollar you spend and once you鈥檝e accumulated enough points, you can convert them into credits to pay for your groceries. Oh, and the program is not limited to grocers by the way. With Flybuys, for example, you can collect points from Kmart, Target, Officeworks, and more.聽
Do you know of any money saving tips?聽