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Money Saving Tips for Postgraduate Students

1 April 2017 No Comment

In most cases, you will need to have graduated from college with your bachelor’s degree before studying on a master’s program such as an MSN administration. Because of this, many master’s students are already in a lot of student debt and wanting to do whatever they can to keep the cost of their further education down. Studying at the master’s level is certainly an investment that can pay off for your career. So, here are our top tips for getting your master’s degree and saving money at the same time.

Study Online

As a college graduate, taking your master’s degree is often more about improving your employability and knowledge rather than making sure that you get the student experience. As a master’s student, you may even be working alongside your studies, so you’ll want to find the most flexible option possible to fit in with this. Online programs such as an ADN to MSN online are perfect for graduates who’ve already got their foot on the career ladder and want to expand their qualifications further. Since colleges pay less to offer online degree programs to students, they can usually be obtained for around one-third cheaper than standard degree tuition.

Reduce Your Carbon Footprint

Studying as a postgraduate student often means that you’re no longer living in student dorms, but in your own house, perhaps shared with friends. So, you will have more control over the amount of energy that you use, determining the amount that you pay for your utility bills. Conducting an energy audit on your home, using water-saving devices, and making more of an effort to do things such as switch off electronics and unplug your laptop as soon as it’s charged will all keep your utility bills as low as possible.

Prepare at Home

Even if you’re studying online, you may find yourself in situations where you’re tempted to spend money, such as when you go to study in a coffee shop. Preparing snacks, meals, and even drinks at home that you can take out with you when you go to the library, your class, or to meet with your study group, will help you to resist the temptation to spend, and if you’re studying on-campus, don’t waste money in the café – instead, prepare healthy, cheap packed lunches at home and watch your savings grow.

Cut Costs

Lots of us are paying for more than we realize. Take the time to go through your banking statements and make sure that you’re aware of what each payment is for. For example, you might find payments for an old insurance policy or a gym membership that you no longer use. Additionally, it’s a good idea to regularly check whether you can get any cheaper deals on the services that you already use. For example, switching to a SIM-only smartphone contract or reducing the amount of Paid TV channels that you use.

Studying for your master’s degree can lead to a higher income later, but many postgrad students live on a tight budget. Share your top money saving tips for master’s students in the comments.

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