Alcander Seow
Environmental Engineer Minor in Business at Nanyang Technological University
Ways to reduce spending amount / save more money in the short/long term in Uni
Hi,
I'm a Uni freshman, in the mid of my 1st Semester. Based on 7 weeks of studies, I realized that my old poly budget is outdated for me to utilise. As such, I trying to find new ways to reduce my spending amount and save more funds for any potential situation.
As I don't have a hostel in Uni and stay on the other side of SG, my study dates (MON - FRI) usually end at 6 pm +-, using public transport (the 1.5-hour trip back home). I usually reach home by 8 p.m. However, I utilise Grab, and Gojek most of the time to reach home faster to have time to eat with my family and complete my assignments. Usually, I used Grab Share Beta to get the lowest price available. (Ave cost per trip, $25. per week is between $100 ~ $185.
For food-wise, as my classes are quite packed, I usually eat at the main campus areas instead of the Hostel Canteen, and from my experience, the ave cost is $8 >. My Ave cost per meal is $10, which I would like to cut down. Was thinking of bringing a couple of slices of bread and peanut butter spread, just for lunch. Dinner usually I will be consuming with my family back home.
As for classmate gatherings, sadly to say for myself, I don't usually get invited to attend, as I will head home immediately after classes. For external events (clubbing, drinking, etc), I don't attend as I abstain from them to focus on my studies.
Other than these things, what other things can I cut down, or didn't consider as a cost? Any advice do you have that can help me with my particular situation?
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To cut down on expenses, see if u can meal prep as it's usually cheaper. Transport wise, find the cheapest route home. Take public transport if you have to, u will be surprised you can get some reading done on the train home. Try and pack your days so that you only have to go to campus thrice a week instead of 5x.
You can also consider growing your cash. Any spare funds can go towards low risk investment, give tuition on your free days.
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Appears that much of the cost is on transport. As some have mentioned, you could consider one of the concession pass or a hostel stay to help you save on travel costs.
Food wise, if you wish, you can prepare your meals in advance and then eat on site. There should be ways to prepare fresh meals that should not require a microwave. Alternatively, you can buy non-perishables from the hostel canteen and pack them into your bag. With proper containers, you can eat fresh for a fraction of the cost.
Moving forward, if you have an option to select your classes, consider balloting for classes in an arrangement such that you won't have to make as many trips to school. Each day you don't need to be in university is a day of expenses and time saved. I rather you have one to three packed days and then two free days to recover a bit and consolidate your studies or pursue that part time job.
If you are ok to do whatever it takes, you can try to read your materials while on public transport if you don't need to move a lot, it does help to cut on prep time, unless you need to study in a particular way to focus.
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Hey Alcander, you can consider making time for part-time work to help cover your expenses. I know you mentioned bringing bread and peanut butter for lunch, but having nutritionally balanced meals is important to help you study better. Anyway, you can browse through this article to see if any side hustles are do-able for you! Good luck!
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Personally, I would get the concession pass for MRT or Bus, I think that would help to cut down a bu...
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