A penny saved is a penny made - Public holiday gift

By Asiwaju Michael A.

 

The school campus goes empty as students of PHPOLY go on public holiday as a result of lack of hostel. Even though Business Administration students were on campus to receive lecture on a major course.
While on holiday, we bring to you practical ways to save money which illustrates 10 expensive habits you have to quit as a student:

Using public transport 

For some students, public transport can be a necessity, but for a lot of us, if we're being totally honest, it’s just an opportunity to stay in bed an extra half an hour instead of walking to lectures.
If you're serious about saving the pennies, this tip is a must. Public transport is expensive, so even just reducing your use of it (only taking transport in the mornings but walking back in the evenings, for example) will have a positive affect on your financial situation.
If walking to school would be a serious trek for you, why not buy a bike second-hand.
Estimated saving: N1000/week

Typing and Printing @ N100

You have to reduce cost of typing and printing of your assignments, projects and presentation by typing yourself if you have a system and print in a business center or print in your home if you have a printer. You may also type from your course mates whose source of income is through the job. They type and print at cheaper rate of about #80 to #70. You can contact any of these two numbers to type at affordable price of #70 (08175334815, 09055707805). You can save #30 on each page of 10 pages assignment which is about #300.
Estimated saving: N3000(from 10 courses)/semester (depending on the number of courses you offer)

Impulse buying

Similarly, impulse buying is another major cash-killer – even if it is just a few quid here and there.
A good way to cure the habit is to try to avoid carrying around too much loose change. It’s likely you won’t be as keen to buy something if you have to break into a crisp tenner or use your bank card, than it would be if you're aware of a few 100 naira notes floating around in your pocket.
The solution? Find an old jar and store your spare change in there instead. Take it to the bank once it’s full, and there's your emergency survival money to get you your textbooks.
Estimated saving: N1000/week

Smoking

I know we said we wouldn't lecture you on this one – and we're not! But think of the cash you could be saving…
We all know smokes don't come cheap, yet often they're the hardest expense to kick. If the idea of quitting cold turkey makes you want to run to the hills, you could try e-cigarettes or limiting when you smoke to nights out and social occasions – as long as those nights out aren’t every day of the week (remember the money-saving goal here).
Estimated saving: N1000+/week (depending how much you dabble)

Drinking regularly

We're under no illusions here – we all know drinking is an inevitable (and let's face it, pretty good fun) part of uni life, but if you make too much of a frequent habit of it, the financial drain will creep up on you (and your liver!).

One option would be to stick to drinking only at weekends (or if you're a mid-week party person, your two days of choice per week). You might find this gives your grades a bump too!
Another option would be that instead of drinking at the pub or going clubbing, buy your own drinks at a local shop and have friends over instead.
Estimated saving: N1500/week

Paying for stuff you can get for free

Please don't tell us you're one of these people who spends money on bottled water… if so, no wonder you're skint!
Investing in a reusable water bottle to take to uni will save you a crazy amount of cash – it comes free from the tap, so use it. Similarly, you can get food for free (legally) if you're really smart about it.
 Estimated saving: N300/week

Clothes shopping for the sake of it

 Try to get into the habit of only buying clothes when you actually need them, as opposed to wandering down the high street and spending frivolously.
If you've got a real passion for fashion, try getting into charity shopping instead, and keep your eye on online swap shops too.
Estimated saving:N2000+/month (depending on you)

Buying food on campus

 Campus meals are mighty tempting – what’s not to like about rolling out of a lecture to the alluring smell of the nearby canteen?
Whilst it might not seem like much to grab a meal and a drink there twice a week between classes, the cost can soon add up. Instead, do a bit of forward planning and prepare your lunch and snacks the day before.
Estimated saving: N500+/week

Foodstuff shopping without a list

Remember that supermarkets are out to make money and will do anything to get you to spend that little bit extra – so much so that they employ these tricks to get you spending more.
Make a rough meal plan for the week, write down what you’ll need, and stick to it!
Need more help with saving on your food shopping? We've got a whole guide to help you with that too.
 Estimated saving: N1000+

Buying branded goods

Think twice before you buy your favourite trusted brands – there’s often little or no difference between them and the cheaper, lesser-known brands and basics.
This goes for food and drink, but also things like medicine and cleaning products too (you could save a mint by going for these alternatives instead). E.g buy big cola instead of coca cola, buy zobo instead of coke, etc
 Estimated saving: N1000+/week


You might think they are little cash but adding all together you can save about 10000+ in a month and about 30000 in a semester. It can go a long way in buying your textbooks, typing of assignments, presentation and maybe to pay next session fees.