Tips to help tighten your belt during this economic recession.

Ramaphoria has brought us higher VAT,the petrol prices have soared to sky high records. Young people are not exempt from feeling the pinch. Here are a few tips and tricks on how you can save more and stretch your rand further.

Plan your budget.

As a student saving money is important and one of the ways I do is through the use of a budgeting app, and learning not to spend frivelily,” says final year LLB student Londeka Thabethe.

Planning your budget can save you money. If you plan ahead, and stick to it, there will be no room for further spending. Writing out your budget every month to ensure that there are no nasty debit order and payment surprises. With a well crafted budget, you will probably think twice about spending money.

Get a job.

In South Africa it is proving difficult to get a professional job but companies and restaurants are sometimes looking for students to work part time. Working as a student is a great way to make extra money and ensuring that you have some work experience which is good for your CV. Websites such as www.errandworld.co.za and www.dialastudent.co.za helps students find part-time employment that is suited to your needs.

Share textbooks and buy second hand

Buying second- hand textbooks is not new to students. It is a cost effective way of ensuring that you have all learning materials without breaking your budget. Sharing textbooks however is something new that students are doing.

“I share text books with my friends because it is cheap. You find that one text book costs R700 and we all don’t have the money so we chip in to buy one then we share it. Around test time we study together which makes it easy to use textbooks,” says first year Logistical Studies student Naledi Radebe.

Don’t buy all your food at Retail stores

Staying healthy is important, which is why it is wise to rethink the way we shop for our food. Instead of buying food at retail stores, find cheaper options. Final year LLB student Jabulani Malamola says buying from the butchery means he saves a lot of money.

“What I try to do is I buy meat at a butchery and they have proven to be quite cheaper than retail.” Being smart about where one buys their vegetables is good. Jabulani says that buying fruits and vegetables from street vendors is just as safe and cost effective as buying from a retail store.

Limit your nightlife.

 The lifestyle of constantly going to where the party is might be the number one reason why your budget is in the red. Alcohol, entrance fees and transport costs add up and can make a dent in your budget. Limiting your nightlife will save you money and time as well. If the need does arise for one to let off some steam, then finding events around the city that are free or discounted for students is always a good idea.

If you follow at least one of these tips your money can stretch further in this economy. Try one of these tips and let us know how the experience was on Twitter.