The Simplest Way For Students to Save Money

Hey guys, cards on the table. I’m no longer a student. But I was a student for five years, and I can tell you now some of the things that I’m glad I did and some that I wish I’d done.

 These are some of the hidden costs of school, but they’re also the ones you can save on the most.

I wish that I’d known more about how to save and manage money. On top of things like tuition, rent and textbooks, it was the everyday purchases that really began to add up; coffee, groceries, household items, new clothes, more coffee (the cruise I took in 2010 didn’t exactly help either… it wasn’t even that fun). These are some of the hidden costs of school, but they’re also the ones you can save on the most.

The hack here is to find bundles, loyalty programs and student discounts to make your everyday spending work in your favour.

Your best bet is to put a BMO SPC®AIR MILES® MasterCard® in your wallet.

Yes, the name is a mouthful, so I’ve just taken to calling the card the triple threat. It’s a credit card, SPC card and AIR MILES card all in one. Which means you’ll be saving 10-15 per cent at hundreds of stores and restaurants, while building much needed credit and while getting Miles.

So one card allows you to save and earn on the same purchase.

If you’re not familiar with the SPC program, it’s a card available to students that offers a 10% to 15% discount at dozens of major fashion retailers, restaurants and even Apple computers.

Everyone wants to travel, but when you’re a student, it isn’t the best time to save for your dream vacation. AIR MILES actually has a variety of ways to save you money outside of travel.

How much you earn and save will of course be based on your shopping frequency, but when it comes to necessities like groceries, this the simplest way to put money back in your pocket.

AIR MILES Cash allows you to instantly use the Miles in your Cash Account on everyday purchases such as gas, groceries and so much more. 95 Cash Miles equals $10, and you’ll earn more when you shop at the 200+ AIR MILES Partners (online or in-store).

How much you earn and save will of course be based on your shopping frequency, but when it comes to necessities like groceries, this the simplest way to put money back in your pocket.

You might be reluctant about getting a credit card. But the truth? A credit card is a necessary part of ’adulting.’ If you ever want to rent a car, travel or really make online purchases of any kind, you need one.

And sure, ‘adulting’ might seem far off because right now, you’re “studenting” pretty hard. But if your student loans only took care of tuition and residence, you might want to think about a card with low interest rates and annual fees to help you make it through school.

Using the card sparingly and with a payment plan in mind can work to your benefit. You can build up good credit and learn how to be a disciplined adult if you’re able to make your minimum payments and keep under your limit.  Just do me a solid and don’t go on a cruise.

 

Michelle Whittemore

Michelle Whittemore

Michelle is a freelance-writer in Vancouver, BC. She is beautiful, talented and modest.

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