How To Save Money as a Student

One of the biggest problems students are facing today is how to manage their meager allowance. Although everyone has the right to learn, it costs a lot of money to study at a prestigious school and receive quality education. Students have many expenses already: daily transportation, tuition fees, food, expenses for books and other learning materials, and more.

I receive a little more than $1 as allowance every day from my mom. That money should cover transportation, snacks and lunch, plus expenses for photocopied handouts and other expenses at school.

If you ever wondered how to save money as a student, let me show you how I save $50 a month from an average $1.5 daily allowance.


1. I don’t take transportation

School isn’t very far from home, so I always walk, or take a ride in our family car with my brother. I don’t hang out at far places after school as well. Daily transportation can eat up a huge part of your allowance, especially if done everyday. If school isn’t that far, I recommend waking up a bit earlier and walking instead of commuting. By doing so, you are not only saving money but also exercising your body and promoting a cleaner and greener lifestyle.

2. I eat lunch at home

I don’t know if this is common in other countries, but Filipinos sometimes go home during lunchtime (if home isn’t very far) and eat lunch there, then come back before afternoon classes start. That’s what I do so I don’t have to spend money on lunch. I walk home every afternoon and eat lunch at home then come back before classes start. Here’s another tip: you can also pack your breakfast into a lunchbox and eat it for lunch so you don’t have to buy lunch, or at least pay only for add-ons. I have some yummy Filipino recipes you can try.

3. I use coins and extra change to buy my snacks

Our school sells cheap but yummy snacks every recess, and ten pesos ($0.20) is enough to keep you full before lunch. I only use coins to buy my snacks and save my bills for bigger expenses but most of the time, these bills go to my savings wallet. I feel less urged to count my coins in my savings wallet so I use them instead to spend on my snacks and other school materials. It saves money and keeps my bills intact, and also helps me minimize the urge to overspend on unnecessary items.

4. I sell art and help out for some extra money

I use my talents to earn some extra money. After school and every Saturday, I take on extra tasks like helping out at shops and more. I am a hobby artist, and I sell prints of some of my artworks. I also take on custom commissions from clients. Not everyone is an artist, but there are so many options. To give you some ideas, I wrote a blog post about How To Earn Money as a Teen.

5. I only go on shopping sprees every two or three months, when there is a sale

I’m a thrifty person, so I rarely go on shopping sprees when my parents aren’t willing to sponsor. I make sure there is a good sale at  the mall, and have a planned budget. Usually, that budget isn’t more than $45 (mostly $20-$30). In fact, some of My Everyday Beauty Products that I use are cheap but high quality! Not only do I save money but I also get to use the products with great quality.

6. Birthday money and Christmas money go straight to my savings

Whenever we visit family members during the holidays, they reward my good grades with a  hefty sum of money, same as with my birthday. I get up to $90 a year from my birthday and Christmas alone, and these go straight to my savings as well.

7. I work during the summer

I make the most of my two-month summer. I don’t work full-time, but there are some activities that I do to earn extra cash to help me prepare for the upcoming school year. I use it to spend on back-to-school sales for school supplies and also as extra allowance. I save up to $80 in these two months, sometimes reaching $100. For job ideas, check out my blog post How To Earn Money as a Teen

8. Scholarship Program

I pay $2 every school year as tuition because I signed up for a prestigious scholarship program at our public high school. I spend a few extra cash as well throughout the year, but my expenses are minimized. The only downside is that I feel pressured because this programmed is very advanced in terms of academics, but somehow I managed to maintain my place at the top of the class. I shared one of my experiences on my blog post Writing a THESIS at age 14.  


This is all. By minimizing my expenses and maximizing my meager allowance, I save up to $570 a year without a permanent job and despite having a meager allowance. I hope you  make it one of your resolutions this year to save more money!

Love, 

Athena x

32 thoughts on “How To Save Money as a Student

  1. This is amazing, especially considering the amount you start off with! Where I went to school, in the UK, it wasn’t really known for people to go home at lunchtime although it would have saved a lot of money! Thanks for sharing Athena 🙂

    Liked by 1 person

  2. Wow, you are brilliant at maximising your savings and your income, these are wonderful tips. I think it’s hard for teens to find jobs that pay a decent rate but if you’re talented enough to sell your own work then that’s great. It’s also good for your CV as it shows your entrepreneurial spirit. Congrats, and I hope you continue to save! Lisa

    Liked by 1 person

  3. This is great Athena! Love this! In Sweden where I live, the food in school is free (and taste pretty good) . Which is great! And I also try to work at summer breaks to get some money to my savings! Great advice and good luck with your savings!! :))
    Xx Tuva

    Liked by 1 person

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