Students in India are least bother about Savings and Earnings money. They believe the Savings and Earnings money is not at this stage but at earning stage. But, every student should remember that studying at college is an expensive proposition now a days, but getting a degree is a ladder to your good career and comfortable life. College life will create you many opportunities to build your career. However, achieving you goals pertaining to your career may be expensive and full of challenges. When you know how to manage your money, you will be better prepared to pursue your goals and have enough money can make them a reality.

In this article, I am aiming to college students in India, giving top saving tips on how to reduce your expenses and earning money techniques.



 

 

Reducing Expenses:

Choosing Used Books:

Choosing Used books would save you a lot of money. However, some students like new books only. They can purchase the new books on Leasing basis from the shops. Some shoppers leasing the books to students and after returning the books, they will charge some percentage (20% - 25%) of the book value, and return back the remaining amount.

 

Free eBooks / Courses from Internet: 

Almost 80% of any books are available for free / nominal costs on Internet. You can download them on Laptop / Desktop / Mobile and can use whenever you need. While searching for free books online, you use the this tip. Search on Google with File:PDF "Book/Topic Name". This will give you free eBooks in PDF format. You can change the format and can search. You can also search websites like Udemy , CouponLair etc for free training courses on almost every thing.

 

Expenses on Clothes / Accessories / Mobile / Furniture:

I suggest don't follow the trends / fashions. This would dent your pocket heavily. Search for discounts / sale. Generally students feel shy to bargain. But, you should scout for bargains at any shop. If possible try for 2 - 3 shops. You will definitely get best price. You can also check the websites like OLX.in / Quikr.com, where you can get used items (some times you get new items also) at discounted price. You even bargain here with out any hesitation.

 

Debit / Credit card usage:

Some private banks are issuing Debit / Credit cards to students. But, I strongly suggest don't use your plastic card for paying off at shops. Instead, you pay from your pocket. Paying through money will reduce un-necessary purchasing. Prudent usage of Plastic card would increase your Credit score and this will help to get Education Loan easily.

 

Entertainment Expenses:

Entertainment expenses includes movies at iMax theaters, Visiting Pizza / Burger outlets, Parties etc. I am not saying you should avoid all these entertainment. But, I suggest you can easily reduce all these expenses by choosing right platforms. You can watch movies at normal theaters. Reduce parties or make it Dutch parties.

Can use Internet as well for entertainment at absolutely no cost / reduced cost.

 

Focusing on Earnings / Savings & Investments:

Earnings: 

Many jobs are available for students. Jobs like Tutor, Part-time counselling, Article writing, Hobbies converting to Money making, Company start-up implementations at Campuses, Online jobs, Money earnings using Blogs, SEO techniques etc. are some of the jobs that any student can try.

 

Savings & Investment: 

Students can look for investing their monthly surplus into Mutual funds. Using SIP approach, they should make a habit of investing into a good Mutual funds. You can refer Choosing my First Mutual fund for Mutual fund selection. They can also choose Bank RDs / Postal savings for safe investments.

  

Conclusion:      

Saving a Rupee equals to earning a Rupee. Every student should make a habit of reducing their expenses and focus on Savings and Earning. This would definitely helps in achieving their career goals.

 

Wish you all the Best!