Smart Tips on Managing Expenses as a Student 

Smart Tips on Managing Expenses as a Student 

If we’re being real, we know that being a student is awesome. Some of the best years of your life, no doubt. But managing expenses is one of the not-so-fun parts that comes with it. Between paying for classes, rent, textbooks and groceries, your bank balance can disappear quickly. The stress that comes with it? Very real. But with a clear plan and careful spending, managing expenses becomes much more doable—and helps you avoid unnecessary debt.

Managing expenses starts with building a budget you can actually stick to. And to build a budget, you need to know what you’re working with. That means starting with income.

LIST YOUR INCOME

Before you can budget properly, you need to know exactly what money is coming in—and from where. Be realistic. Don’t overestimate or assume cash that hasn’t landed yet. If it’s not guaranteed, it doesn’t count. Write down only the income you can rely on month-to-month. This approach keeps your budget grounded and helps in managing expenses more accurately.

  • Allowance from your parents or guardians

  • Bursary or scholarship funds

  • Part-time job

  • Stipends from internships or learnerships

Add all of this up to figure out how much money you have to work with.

LIST YOUR EXPENSES

 

Smart Tips on Managing Expenses as a Student 

Managing expenses properly depends on how honest you are with this step. List everything—not just the big stuff like rent or transport. If money is leaving your account, include it. Small daily expenses add up fast and often get ignored. This is how budgets fall apart.

  • Fees that you must pay

  • Rent and utilities

  • Textbooks and stationery

  • Transport costs

  • Groceries

  • Toiletries and personal care items

  • Data and airtime

  • Fun money (movies, nights out, drinks etc.)

  • Emergency fund

Once you have all these listed, you can create a budget. Using a budgeting app is the easiest way to do this. YNAB (You Need A Budget), Good Budget, 22seven and Pocket Guard are all good options, and some banking apps have built in budgeting tools that you can also make use of.

Explore the options and pick what works best for you. If the apps aren’t working for you, you can try and create a spreadsheet on excel and set it up in a way that makes sense to you.  

Creating a budget is the easy part. The difficult part is sticking to it. This is where you need to be clever with how, when and where you spend your money. Here are some practical tips on how to manage your expenses.  

CONTROL YOUR DAILY SPENDING

 

Smart Tips on Managing Expenses as a Student 

Managing expenses on a daily basis requires self-discipline. Instead of buying lunch every day or ordering UberEATS, cook at home. If cooking every day is too time-consuming pick one day a week to meal prep so you have  quick meals always available to you.  

Use student discounts. Student discounts are available in a lot of places, so make sure that you ask (also make sure that you always have your student card on you). If you can get a discount the absolutely take advantage of that.  

Cut out impulse buying. If you see something you were not planning on buying but find yourself tempted to swipe for it, give yourself 72 hours. If you wake up 3 days later and you still want that item, then get it. Just make sure that you give yourself time to think through the purchases you are making. 

SAVE ON TEXTBOOKS

Buy used or digital textbooks. Used textbooks are significantly cheaper than brand-new ones and digital textbooks are marginally cheaper than printed ones. Save where you can. If the required textbook is not something that you are going to need frequently during the semester, then go check if they have a copy in the library that you can use instead. There are also platforms like Amazon, that you can use to rent a textbook which will work out cheaper than buying one.  

 Use the free academic resources that you have available to you. Google Scholar is always a good place to start. Also check if you institution is registered with online libraries like PubMed, Elsevier and JSTOR and make use of those resources. This is especially important if your degree requires that you read a lot of journals for research purposes.  

Finally make some money back. At the end of the year or the end of the semester, if you know that you are to going to need your textbooks anymore, then you should sell them to people who are going to need them or check if the university bookstore is willing to buy them back from you. Managing expenses extends to academic materials too. 

BE SMART WITH YOUR TRANSPORT

When possible, opt to walk or cycle instead of driving or getting an Uber.  If you and a couple of other students, you know live in the same area and have similar schedules then you can carpool and take turns driving to save on petrol. If you find yourself in a situation where you must uber, see if you can go with a friend so that you can split the bill.

Also see if you can use these rideshare services during off-peak hours so that the fare isn’t super expensive. Use the campus shuttle to get to places when you can. Even if it only takes you one way at least you don’t have to pay for an uber twice. Finally, never underestimate how much public transport will save you.  

MANAGE YOUR SUBSCRIPTIONS

Managing expenses also means eliminating silent drains on your budget. Subscriptions are very sneaky; they eat up a decent amount of your money without you even realising it. So, watch them carefully and see what you can go without. Some things you must have like cloud storage to back up your devices. However, some things you can work around.  

Many apps have student discounts so make sure to take advantage of those (Apple Music, Spotify, Adobe, Microsoft Office etc.). My favourite tip though is sharing subscriptions. In your friend group have each person sign up for one thing, Netflix, YouTube Premium, Disney+, Amazon Prime, etc. and then share account details between yourselves so you’ll being paying for one subscription but have access to all the platforms. 

SAVE SOME FOR A RAINY DAY

Managing expenses includes preparing for the unexpected. Having an emergency fund is non-negotiable. Life is unpredictable and something unexpected and expensive might come up. If that happens you need to have something to fall back on. 

Make sure that you put some money away for emergencies every month and don’t touch that money unless it is an actual emergency. It doesn’t have to be a lot even if you can only save R50 a month for the emergency fund it is better than having nothing. The goal is not to have R50000 saved but rather to have something to fall back on when an emergency comes up. 

EARN SOME MONEY ON THE SIDE

Managing expenses becomes less stressful when you have more to work with. We already spoke about selling your textbooks when you no longer need them. You can also sell your study notes if you think they will be useful to someone else.

For a more consistent line of income then you should try and look for a part time job or a paid internship. Not only will this earn you some extra cash in your pocket, but it will also add to your work experience on your CV for when you start applying for jobs once you’ve graduated.  

Freelance gigs are also a great way to make a little extra money whilst also allowing you to be more flexible with your hours. You can take advantage of whatever skillset you have you can be a writer for blog, or a proofreader. You can also offer services. If you are good at nail art, then advertise that to your classmates and to people around campus and then charge a fee to do their nails for them. Wash cars over the weekend the options are endless. 

Tutoring is also a solid job for university students so check online for opportunities in that space. If not ask around campus if they have jobs in the library or somewhere in an admin role. If you look for them, you will find opportunities in abundance.  

Read More: A Student’s Guide to Cost of Living

PLAN YOUR GROCERIES

Managing expenses at the grocery store starts with discipline. The most important thing when grocery shopping is to NEVER go grocery shopping while you are hungry. You will get distracted and buy thing that you are craving instead of things that you need.

Secondly, always go grocery shopping with a list. Stick to the list and do not deviate.  Go to affordable grocery stores. Avoid the likes of Woolworths and Spar, go to Pick n Pay, Checkers and Shoprite. Where you can buy things like non-perishables and toiletries in bulk and make sure to keep an eye out for savings deals. 

LIVE WITHIN YOUR MEANS

Finally, the most important thing is to live within your means. Managing expenses means being honest with yourself. Having Gucci sunglasses is all good and well for clout, but clout won’t buy groceries. Do not spend more than what you have.

Make sure to avoid taking credit or loans unless it is necessary. Even in that case make sure that you understand the interest rates and repayment terms. And in your job search be very careful not to get pulled into an MLM. 

FINAL THOUGHTS ON MANAGING EXPENSES

Managing expenses as a student isn’t about living a joyless life—it’s about making conscious, informed decisions. When you budget, track, and cut unnecessary costs, you build a habit that will serve you long after you graduate. It’s about financial survival now and financial stability later.

And when it comes to one of the biggest costs—accommodation—where you live matters. With KCI Management Properties, you’re not just renting a bed. You’re joining a safe, connected student environment built around support and convenience. It’s more than just a stay. It’s a real community.

Managing expenses shouldn’t mean compromising your safety or quality of life. Visit KCI Management Properties today and see what smart student living actually looks like.

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